The holiday, which everyone, whether working or not, looks forward to, is an important period not only for individuals, but also for businesses and therefore our economy. In this content, we will approach the holiday from a different perspective and examine the impact of this 9-day holiday on our economy.
As we know, the Eid al-Fitr holiday is divided into days in between. to 9 days extended. So, do you think the only reason for extending this holiday period, which we have been waiting for months, is to think about our enjoyment? Otherwise, when this decision is made different factors Is it also taken into consideration?
When it comes to economics, any factor big or small has the power to make an impact It can happen. Of course, this also applies to holidays. A one and a half day holiday, which seems very small and perhaps “meaningless” to us, is quite important when it comes to the country’s economy. can create big impacts.
Long holidays have a huge impact on the economy.
Individuals who make up the workforce in the economy should not spend their time working during the holiday. from both economic and social dimensions It causes various outputs.
For example, in these periods, on the one hand increase in spending On the other hand, it is seen decrease in production is seen.
During a 9-day holiday period, some work will slow down or, if possible, stop, operational inefficiency can create.
On the other hand, if we look at the increase in expenditures, economically advantageous It creates a situation.
The biggest impact of the 9-day holiday on the economy is the increase in consumption expenditures!
As the holiday period gets longer, there is an increase in domestic and international travel. This situation affects especially the tourism and service sectors. With the revival of various sectors results.
In addition, long holiday periods will increase people’s tendency to shop and spend time outside. local trade will revive and local businesses will see an increase in sales.
In fact, this situation is in line with the Keynesian school of economics!
Keynesian economics According to, the increase in consumption expenditures is one of the main driving forces of economic growth.
In economies that adopt this approach, spending is generally encouraged for economic vitality. For example, in 2009 “Buy and give life to the economy.” campaign also to stimulate the economy had been carried out.
For this reason, people take holidays etc. during long holidays. because their expenses will increase an increase in consumption will be seen.
As we mentioned before, during the holiday period, people generally tend to shop, travel and spend on entertainment, which will increase their overall consumption expenditures. to stimulate the economy it causes.
The increase in total demand and spending during long holiday periods also causes the economy to revive.
Long public holidays will cause an increase in demand in sectors such as tourism, accommodation, entertainment and local trade. demand for labor can also be seen to increase.
According to Keynesian economics, increases in consumption and total demand lead to investment for growth may increase the tendency to do so. For this reason, especially in the tourism sector, long holidays may cause businesses to invest.
As we mentioned before, there will be an increase in demand increase in prices visible.
As a result, long holiday periods, such as public holidays, often increase economic vitality. People may tend to spend more during the holiday season, which stimulating trade and thus economic growth can contribute.
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