The Turkey GDP is predicted to increase at an average rate of 5.5 percent

Wednesday, May 18, 2022

Annually, the GDP of Turkey tourism in the next decade is predicted to increase at an average rate of 5.5 percent, over twice the 2.5 percent growth rate of the economy of the country in general. This has been forecasted in the recent Economic Impact Report of the World Travel & Tourism Council.

By 2032, the forecast says that the contribution of tourism to the GDP has a possibility to reach 1.04 trillion Turkish Liras ($117 billion), which could represent 11 percent of the total economy.

Also, in the next decade, the sector is hoped to generate over 716,000 new job opportunities, as per the estimates of the WTTC.

The sector’s contribution to GDP by the end of 2022 is hoped to rise to 15.5 percent to almost 607 billion liras, amounting to 8.3 percent of the economy of Turkey. Employment in the sector is also expected to rise by 4 percent and reach over 2.5 million jobs.

The recent information as per flight bookings from WTTC’s ForwardKeys shows that during the summers 2022, in Europe, the country is prepared to be the fourth most popular hot spots amongst sun lovers who love places like Istanbul, Antalya, Bodrum, and Dalaman beaches.

According to the report, the data by now has started pinpointing the fact that flight bookings are surpassing pre-pandemic levels, with bookings from the U.K. up 101 percent.

Also, other source markets are performing better that 2019, with bookings from the U.S., Ireland and Canada up 57 percent, 28 percent and 18 percent respectively.

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