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This paper aims to, by having a marketing perspective, assess the potential of Manisa for religious tourism and shed some light on the ways of increasing that potential and to add to the religious tourism literature and practice in general.

A number of depth interviews were conducted with the experts of culture, tourism, religion and religious assets in Manisa. People and institutions regarding religious tourism were called, visited and asked for the names of right interviewees. As a result, a total of 14 interviews were arranged and successfully accomplished. In addition to depth interviews, top 15 most popular travel Web sites (www.ebizmba.com/articles/travel-websites) are examined for tourist and guide opinions toward Manisa’s religious sites and its surroundings.

The findings indicate that Manisa has highly important religious monuments belonging to three major religions, including three of the seven churches mentioned in the Apocalypse section of the Bible. Many suggestions have been made regarding possible changes in products, referring to religious monuments and sites in this study, and other marketing mix elements like possible ways of promoting the product.

The findings are based on a qualitative study, which limit their generalizability. Yet, the sample of interviewees is fairly large and utmost attention is given to the selection of them. In the future, more stakeholders can be involved in the data collection process. Also, the views of general public on the topic can be investigated through surveys to determine the details of religious tourism activities.

Preparations for selling souvenirs (like miniatures of religious monuments) and other religious and cultural goods near the sites of attraction can be made. In addition to selling souvenirs (e.g. miniatures, postcards), local food (i.e. Mesir paste, Mesir delight) and local drinks (i.e. Mesir tea, Sübye) can be offered at gift shops or stores to be opened next to religious monuments.

With the rising popularity of experiential and event marketing, tourists coming to Manisa to see religious monuments will be better off experiencing the atmosphere of these monuments. A specific team of experts from each related organization can be formed and an action plan be prepared to determine the steps to be taken regarding religious tourism. A wise planning and an effective implementation of religious tourism efforts require an intense coordination.

Policy makers and managers who want to promote religious tourism need to determine the tourism products and services which appeal to a diverse types of tourists visiting any religious destination. Religious tourism products and services in other destinations can be offered in combination with such activities as camping, hiking and sightseeing or such other types of tourism as social and group tourism and adventure. Standard marketing strategies may not work for religious tourism because spiritual travel will take different forms and have different meanings. Promotional activities are utilized to make potential customers aware of products, induce demand and provide incentives to purchase.

Hospitality companies can increasetheir market share and growth rates by increasing their brand loyal customers. This is a more profitable approach than other marketing activities, such as price cuts or promotional programs. As a mature industry, the hospitality business must pursue market‐share gains, rather than market‐growth gains. Acquiring new customers is expensive becauseof advertising, promotion, and start‐up operating expenses. Besides, it is cheaper to serve current customers. This paper brings together the factors that contribute to brand loyalty in marketing literature and provides strategies to hospitality managers for increasing brand loyal customers.

Stock markets are highly sensitive to foreign and domestic events. Stock exchange markets react promptly to news and are known as an indicator of good and bad trading conditions. Terrorist attacks leave adverse effects on the economy and cause stock price volatility and, consequently, stock return volatility. Therefore, this paper aims to analyze the spatial effects of terrorism on stock market returns in the Middle East from 2008 to 2019.

This paper uses analytical research design and estimates spatial model. Before estimating the spatial model, the spillover effects were confirmed for the spatial autoregressive model using Moran’s diagnostic test for spatial dependence, Geary’s C test and Akaike statistic.

The results of this study on spatial panel data and based on spatial autoregressive estimator indicated that terrorism and associated neighborhood effects had a negative impact on stock returns in Middle East countries. Also, the corruption index and oil price negatively affected stock market return in these countries, while the democracy index had a positive effect on stock market returns. According to the results, to achieve a high and stable stock market return, it is recommended that high-level consultation is pursued with leaders of involved countries to reduce the devastating effects of terrorist activities, increase political and economic stability, attract stockholders to stock markets and spend corresponding incomes developing the infrastructures in this sector in countries of this region.

Most of the studies have investigated the impact of terrorism on the stock market returns at the national or provincial level. However, the effect of terrorism on the stock market index in the tense region of the Middle East, which is the center of terrorist attacks in the world, has not been dealt with by considering the spatial econometric effects. Thus, to the best of the authors’ knowledge, this research is a first attempt to study the impact of terrorism on the stock market returns in Middle East countries using the spatial econometric approach.