Turkish Tourism Revenues Surge

According to the latest data from Turkish Statistical Institution (TÜIK) tourism revenues in the first quarter hit almost $5 billion, an increase of 38.6% compared to the same period in 2012. According to the report the increase is attributed mainly to the 18.7% increase in visitor numbers, surpassing 5 million in total in three months, although revenues per tourist also increased to an average $982 per person.

The report also showed that while 72.5 percent of the income for the period was obtained from foreign visitors, 27.5 percent was obtained from Turkish citizens residing abroad. Meanwhile Turkish citizens resident in Turkey who travel abroad spent more also, with revenues up 38.5 percent compared to the same quarter of the previous year, at around the same level as the surge in income.

Turkish tourists spent $1.2 billion abroad in three months. In terms of the number of visitors, the number of Turkish tourists soared by 31.4 percent, reaching 1.6 million. Turkey’s tourism revenues were $23.4 billion in 2012.

In Turkey, like most overseas property hotspots, the property market and tourism industry are married in partnership. Tourists become property buyers, and increasing tourism increases the investment potential of Turkish holiday homes. Locations like Fethiye, Dalaman, Alanya and Bodrum are all particular favourites in this segment of the market.

In recent years Turkey has grown in appeal to pure investment buyers, who increasingly eye residential investments in cities like Istanbul and Ankarra, but at the last measure tourists and holiday home buyers are still at least equally responsible for foreign purchases of property in Turkey, if not still dominant.

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