13% INCREASE IN TOURISM REVENUES IN TURKEY

William Law - Nov 2, 2023
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According to the Turkish Statistical Institute data, Turkey's tourism revenues surged by 13.1% to reach $20.23 billion in the third quarter of this year (July to September). This sector has been instrumental in filling the current account deficit and continues to display a strong trend.

In the previous year, revenues had reached a record high of $46.28 billion, reflecting a 53.4% increase from the prior year. This was due to the fading of the repercussions of the pandemic and an increase in the number of Russian tourists following the beginning of the Ukrainian war.

Earlier, the Turkish Ministry of Culture and Tourism announced last month that the country had welcomed 36.754 million tourists during the first eight months of this year, marking a 14% increase compared to the previous year.

According to the statement, German tourists came in second with 4.082 million visitors after Russian tourists, who topped the list with 4.351 million visitors. In third place were the British, with 2.652 million visitors.

The Turkish Ministry of Treasury and Finance aims to welcome 60 million foreign tourists by 2023, with tourism revenues expected to reach $56 billion this year. The country aims to attract 90 million tourists by 2028, raising tourism revenues to $100 billion. The Turkish government places great importance on the tourism sector and is committed to its continuous development. This sector is one of the most crucial economic sectors and is an essential source of national income. It boasts a robust infrastructure, top-notch tourism facilities, and services that have earned it a global reputation.

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