The Future of Travel and Tourism in Turkey to 2016 by Timetric

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									The Future of Travel and Tourism in
Turkey to 2016

Reference code: TT0061MR

Published: October 2012

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        Turkey is the sixth-most attractive tourist destination in the world in terms of tourist volume. As the
        cradle of an ancient civilization, Turkey has been a long-standing popular destination for tourists with
        historical interests. Due to the sustained growth in the country’s economy, there has been a surge in
        international and domestic tourist activity. The tourism category has become an important driver for
        Turkey’s economic development, comprising 10.9% of the country’s GDP and 9.2% of its total
        employment rate in 2011. Following Brazil, Russia, India and China (BRIC) countries, Turkey is
        considered a promising emerging economy, alongside Colombia, Indonesia, Vietnam, Egypt and
        South Africa.

        International tourism will continue to be the growth driver over the forecast period

        With a surge in interest from both European and Arab tourists, the inflow of international tourist visits
        to Turkey increased from 22.8 million in 2007 to 29.7 million in 2011, registering a CAGR of 6.82%.
        This growth can be attributed to a variety of macroeconomic factors such as rapid GDP growth,
        higher levels of disposable income, closer integration with the EU and a weakened currency. Growing
        international trade with the EU and other G8 countries has attracted in business tourists, while the
        development of low-cost international-quality destinations and resorts has attracted leisure visitors.
        Notably, during the crisis year of 2008, international tourist visits posted a CAGR of 13.1%.

        Government initiatives and macroeconomic drivers to support the domestic tourism category

        Although domestic tourism is a small part of the Turkey’s overall tourism category, it makes a
        significant contribution to its revenues. The rapid growth in the country’s GDP and disposable income
        levels has supported a rise in domestic tourist volumes. The expansion of the country’s transport
        infrastructure, alongside the growth of low-cost airlines, also encouraged domestic tourists to travel.
        Another key growth driver is the country’s stable political environment, generally thought to be due to
        the re-election of Prime Minister Recep Tayyip Erdoğan for a third consecutive term in 2011. The
        Turkish government is channeling resources into its program Tourism Strategy for 2023, which is the
        centenary year of the Turkish republic. Is
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