BUSINESS MONITOR INTERNATIONAL REVEALS FUTURE IS BRIGHT FOR TURKEY
According to Business Monitor International (BMI) last year saw a total of 31,782,832 tourists visit Turkey, signifying a steady growth of 1.04 percent.
The outlook for Turkish tourism also looks positive for 2013 to 2017 with BMI predicting an increase of 3.5 percent in total tourist arrivals.
The outcome of foreign visitor-flow over the forecast period will be swayed by real Gross Domestic Product (GDP) growth in the Eurozone. This is one of the key source regions for tourists. Currently a BMI forecast indicates a flat growth for the Eurozone in 2013, predicting a rise of 1.2 percent by 2014.
The BMI report on Turkey’s tourism confirms that the country offers plenty of investment opportunity to large tourist industries, in particular those groups wishing to maximise the growth prospects offered by the local market. BMI provide data and intelligence on the value of the tourism industry itself, and the impact of macroeconomic factors.
Turkey also receives a significant amount of inbound tourism from the faster-growing Central and Eastern Europe (CEE) region. Most of the CEE region is currently thriving and a variety of tourist industries are looking towards the CEE area as it is viewed as a potentially lucrative-market. A large part of this growth will be seen in intra-CEE tourism and Turkey’s future tourism arrivals will reflect this.
With Istanbul noted as a contender to host the 2020 Olympic Games and other major sporting events, we predict a reinforced confidence in real estate investment in Turkey. It’s comforting for our investors to see Turkey retaining a strong position, even in these challenging economic times.
Source: www.gov.uk and www.businessmonitor.com