It can be said that the tourism sector is a driving force for the macro economy worldwide. In this respect, it can be stated that this driving force in the tourism sector has an impact on economic growth and development; moreover, an increase in tourism revenues creates a significant increase in the economic growth of countries. The tourism sector, which has such a strong place in the economy, is also affected by many economic indicators. One of these indicators is undoubtedly the level of financial development of countries. It is thought that when financial development increases in countries, tourism-oriented investments will increase and therefore tourism-oriented financial sectors will be supported and tourism revenues will increase. In this context, it is of great importance to investigate the interaction of the tourism sector, which is so important for national economies, with other indicators.

The aim of this study is to investigate the impact of financial development on tourism revenues in the fragile five countries by considering the data for the years 1995-2020. In this direction, Panel Regression Analysis was conducted. According to the findings, the effect of financial development on tourism revenues is positive and statistically significant. In other words, increases in financial development positively affect tourism revenues.