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Tourism Revenue Increases in Turkey, but Visitor Numbers Are Slightly down

Posted on Aug 03 2012 by spotblue

During the second quarter of the year the revenue from tourism in Turkey increased slightly compared to last year to reach a total of $3.2 billion or TL 5.5 billion, and the revenue for April to June was up by 3.8% year on year. However tourism earnings were around 10% lower at TL 2.8 billion during the first quarter compared to the same period in 2011.

The latest statistics from the Turkish Statistics Institute show Turkey’s tourism industry brought in TL 8.3 billion during the first half of the year, and more than 13.5 million people visited the country. These figures from the Institute were around 6% higher than those recently announced by the Ministry of Tourism and Culture who recently stated there were around 800,000 fewer foreign visitors to Turkey during the first half of the year.

One reason there were fewer visitors is that the number of Iranian tourists visiting the country has fallen significantly due to tense relations between the two countries.

Revenue from tourism is extremely important as the Turkish economy currently produces a large current-account deficit due to its dependence on foreign energy and materials. The strong economic growth during the last decade has exacerbated this situation.

Turkey is currently focusing much of its attention on finding alternative energy resources and this has required extensive research and development investment so the revenue from tourism is one of the most important ways of fighting the current-account deficit. During the first six months of the year Turkish residents travelling overseas spent around TL 1.9 billion outside the country making the net tourism planning is TL 6.4 billion for this period.

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