In this chapter, the reflections of the recent global crisis on the tourism sector have been studied. In the first part of the chapter, the effects of the global crisis on the tourism sector in the world and Turkey are examined. The latter parts of the research constitute of the evaluations regarding the effects of the global crisis on the Fairy Chimneys Area in the Cappadocia Tourism Region, and the hotels, motels, and souvenir shops there. Cappadocia was chosen as the research area since it is an important tourism attraction at both national and international level. Therefore, a survey has been conducted at the work places in Avanos, Urgup, Goreme, and Nevsehir City Center in Cappadocia Tourism Region. The data obtained through the survey has been analized by SPSS 17 programs. At the end of the research, it was determined that the effects causing concern in the tourism sector started to be seen on the tourism region as well, although the economic crisis started in the USA and the European Countries.