Turkey relies on tourism to deliver $44 billion for growing economy

Friday, November 11, 2022

Turkey has revised its yearly tourism objectives upward, relying on the industry to deliver $44 billion in incomes to help the economy growing.

The uptick came taking into consideration better-than-expected results in tourist arrivals, said the Turkish Minister of Culture and Tourism Mehmet Ersoy. He added that tourism activity was strong in October.

Ersoy estimated that by the end of this year, the annual tourist numbers will touch the pre-pandemic standards of 2019 when Turkey received 51.7 million foreign visitors.

As per official statistics, foreign tourist arrivals in the January-September period increased 98 per cent year-on-year to 40.25 million.

Tourism revenue in the third quarter increased 27 per cent, as per figures released by the Turkish Statistical Institute. In July, Ersoy had declared that the yearly targets would be increased from 42 million to 47 million in tourist numbers, and revenue from $34 billion to $37 billion.

Hard currency fetched by the tourism industry is vital for the Turkish economy to find the way through 85 per cent yearly price rises and high foreign debt repayments.

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