Turkey and Egypt shows signs of tourism recovery

Published on : Wednesday, March 29, 2017

Turkey and EgyptFor Europeans, foreign holidays remain a top priority, despite worries about economy and security. Thomas Cook, renowned tour operator has said that there is a 40% increase on bookings for Greece and signs for recovery in travel for Turkey and Egypt. According to Thomas Cook CEO Peter Fankhauser, “Customers’ appetite to go abroad on holiday this summer is good across all our markets.” He added, “After a slow start to the season and a tough year in 2016, we’re seeing early signs that customers are beginning to go back to Turkey and Egypt.”

 
Thomas Cook is expected to report full-year operating profit of around $412 million this year, saying that summer bookings are up by 10% this year compared to a weak period last year. Last summer tourists had turned their backs on popular resorts in Turkey and other Eastern Mediterranean spots, due to concerns over security.

 

Thomas Cook said that it has expanded its capacity in Greece this season, and smaller destinations like Cyprus, Bulgaria and Croatia are also proving popular. Due to security threats and diplomatic row with Russia in 2015, Turkey’s tourism industry was hit badly.

 

But now, the ties seem to have been normalized. Tourism adds more than $20 billion to Turkey’s economy, and its restoration is important for thousands of people working at hotels, restaurants and travel agencies. In 2014, when Turkey had better times, the country attracted a record 37 million foreign visitors.

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