Tourism revenues of countries play a key role in the economic growth of countries, with important effects such as providing foreign currency inflows to countries, creating employment in various sectors, balancing the foreign trade deficit and contributing to regional development. Turkey is at the forefront as a tourist destination worldwide with its historical and cultural riches, natural beauties and special geographical location..

While the Covid-19 pandemic announced in March 2020 negatively affected all sectors, the health-based crisis and restrictions caused the most severe impact on the tourism sector. In this context, the impact of the Covid-19 pandemic on tourism enterprises, which are of great importance for the Turkish economy, has been analyzed. In this analysis, the effect of the Covid-19 pandemic on the return on assets of 9 enterprises in the Borsa Istanbul Tourism index was analyzed by panel data analysis method. In the analysis, while the net profit/total asset ratio was used as the dependent variable in the analysis, the current ratio, leverage ratio, receivables turnover rate and economic profitability were used as independent variables. As a result of the analysis, it was concluded that the relationship between the variables was statistically significant, that the leverage ratio and economic profitability were negatively related, and that the current ratio and receivables turnover rate were positively related. The chapter concludes with the interpretation of these relationships and recommendations.