Turkey’s tourism industry suffers setback

Published on : Monday, January 23, 2017

turkish-tourismTurkish tourism business internationally has suffered badly due to political troubles. The unrest and civil war in neighboring countries including Iraq and Syria have had a spillover effect on Turkey, which is, at present, considered as unsafe by tourists from many countries. The recent terror attacks have resulted in a loss of millions of tourists with approximately $15 billion of annual revenue for Turkey.

 
However, all hopes aren’t lost and there are still rays of optimism. Number of Russian tourists has risen considerably over the last year due to improved relations between Turkey and Russia. But Turkey still needs to address its security concerns for boosting tourist economy. International tourism on a global scale is growing at approximately 3.5% per year, and the UNWTO expects 1.8 billion international tourists by the year 2030.

 

Turkey has plans of bringing in 100 million tourists and $100 billion in revenue by 2023. For reaching this target, Turkey must continue to address the security threats and regional conflicts and provide necessary investment in tourist infrastructure. Infrastructure in terms of hotels, transport, shopping malls, market places and hospitals need to be built.

 

These will require a huge cost. The government is yet to allocate sufficient funds for infrastructure. Also, unlike the developed tourist areas such as Antalya and Dalaman, where projects were successfully carried out by the Development Bank of Turkey, no similar management authorities have yet been set up in the new tourist regions. Hence, Turkey needs to manage things properly to support its developing projects.

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