Growing Turkish Tourism and Its Affects

Travel and tourism are significant economic activities in most countries around the world. Next to its direct economic affects, the industry has important impacts.

In recent years it was observed that Turkey's popularity among international tourists rises and making it one of the world's most traveled destinations. Turkey's tourism sector is growing with increasing visits by foreigners in the country, and the rising revenues bring good news for the economy. In the first half of 2018, the number of tourists visiting Turkey increased 30 percent.

The scale in which Turkey's tourism to famous cities rises. It is evident now by the sheer volume of international hotels that have derived; particularly in the country's largest city of Istanbul. Istanbul is home to about 1500 hotels and more than 32 million tourists entered Turkey in 2017. Beside the diversity of investments in Turkey's tourist infrastructure and hotel development coming from the country's own building companies, more and more foreign investors are ready to commit their capital.

Turkey's wealthy classes have expanded in recent years resulting in steady growth in its main residential real estate markets. Istanbul's suburbs have seen important growth in the local rental markets, attracting domestic investment with high return potential. These points are the dynamics that should be noted by foreign investors.

With Turkey's economy continuing to develop into secondary cities like Adana, where the powerful textile and leather industry attracts an important amount of international business travel, have presented perfect opportunities for operators to capture the corporate customer. For other cities like Malatya, the expansion of the Turkish middle class has meant a rising need for mid-range accommodation.

As Turkey's international branded hotels steam up the country preparing themselves to ride the upward profit curve. Fresh opportunities for investments are quickly sprouting across Turkey. Residential real estate prices remain heavily discounted, creating many opportunities for profitable margin play.

Turkey, no doubt, is one of the most charming markets around the world for international property investors and well worth a closer inspection.

Last Updated: 8.1.2019 10:54:44