Turkey’s buoyant economy ripe for inward investment • Arab‐Turkey trade quadrupled to US$29b since 2002 • CEE Hospitality sector set for growth • CATHIC conference gathers global hospitality investors and developers “Turkey’s GDP is expected to reach $932.2 billion by the end of 2010, making it the 16th largest economic power in the world….” ISTANBUL – December 2010 Turkey has emerged as a powerhouse of economic activity and is ripe for inward investment, according to organisers of the upcoming Central Asia and Turkey Hotel Investment Conference (CATHIC February 7‐9 2011). Jonathan Worsley, Chairman, Bench Events and CATHIC’s co‐organiser said that Turkey is set to be the world’s 16th largest economy as growth is poised to hit six per cent at the close of Q3. GDP is tipped to reach US$932.2 billion by the end of the year. “Turkey is ready to reclaim its position as one of the front runners in economic growth,” he said. “Prior to the global crisis, Turkey was earmarked as one to watch alongside Russia. Today, we are returning to this earlier scenario with most companies stating that Russia and Turkey are their two strategic growth markets up to 2014.” Worsley said that 55 per cent of Turkey’s businesses look to achieve high single‐digit growth in the next 12 months, and that almost one third of local business owners are predicting double‐digit growth in the same period. Turkey‐Arab trade buoyant Citing the fifth Turkish‐Arab Economic Forum report, Worsley said that trade between the Arab countries and Turkey alone increased fourfold from 2002 to 2009, to $29 billion. “The Arab region is eyeing Turkey as a major trading hub and a launch pad into the Central Eastern European (CEE) markets,” he said. The sentiments were echoed by Nenad Pacek, Founder and President, Global Success Advisors GmbH and Co‐Founder, CEEMEA Business Group. Pacek is tabled as a keynote speaker at the upcoming conference. Hospitality sector ripe for growth “Turkey will continue to attract inbound investment. This is not surprising considering that it is pegged to be one of the fastest growing markets over the next decade,” Pacek said. He advised that Turkey was recently under the travel spotlight, named as the number one destination in 2010 by Condé Nast Traveller. Istanbul was named the year’s top European Capital of Culture. “Turkey is also on the radar of leading players in the global hospitality sector as both inter‐ city and in‐bound business travel and tourism are set for sizable growth in line with the increased economic activity,” he stated. CATHIC a stepping stone to CEE region According to Worsley, Kazakhstan is another market with significant growth potential. “Kazakhstan has the ability to lead the growth stakes in the CEE region. Indeed, the country’s hospitality sector is already attracting sizable investment dollars.” Pacek agreed: “Kazakhstan’s economy will do well as long as commodity prices are strong and the present consensus is that they will remain robust.” Meanwhile, Worsley suggested that the CEE region is likely to attract attention from players who are looking for territories with little competition. He was speaking ahead of the Central Asia and Turkey Hotel Investment Conference (CATHIC) scheduled from February 7‐9 2011 in Istanbul. The three‐day event is endorsed by the Turkish Tourism Investment Association and will focus the attention of local, regional and global hotel investors and developers on Turkey and the CEE geographies. “CATHIC is poised to bring the leading hotel investors, operators and developers together in Istanbul to discuss opportunities, challenges ‐ and to make deals. “The conference agenda includes discussions and presentations on regional and international hotel development, finance, hotel branding and operations,” Worsley concluded. ‐Ends‐ Sources: Global Success Advisors GmbH www.GlobalSuccessAdvisors.eu http://www.todayszaman.com/tz‐web/news‐213639‐arab‐academics‐turks‐return‐to‐ middle‐east‐anticipated‐development.html http://gulfnews.com/business/general/turkish‐arab‐forum‐aims‐for‐closer‐economic‐ security‐ties‐1.639647?localLinksEnabled=false Media Contact: Strategic Solutions, Susan Furness +97150 6556126, email@example.com firstname.lastname@example.org NOTE TO EDITORS: Central Asia and Turkey Hotel Investment Conference (CATHIC) ‐ February 7 ‐ 9 2011, InterContinental Hotel, Istanbul. To register to attend this event, and for details of the conference programme, please visit www.cathic.com CATHIC Sponsors include: BDO Hospitality Consulting, Best Western International, Corinthia Hotels, Dedeman Hotels & Resorts, Hilton Worldwide, Hyatt International, IHG, Jones Lang LaSalle Hotels, The Marmara Hotels & Residencies, Jumeirah Group, Orient‐Express Hotels, Rixos Hotels, Servotel Corporation, Starwood Hotels & Resorts, Strategic Solutions, The Rezidor Hotel Group, WATG and Wyndham Hotel Group. CATHIC is co‐organised by Bench Events and Questex Media, who also organise the Russia and CIS Hotel Investment Conference, Arabian Hotel Investment Conference, International Hotel Investment Forum Asia Pacific and the International Hotel Investment Forum Berlin. About the Turkish Tourism Investors Association (Türkiye Turizm Yatırımcıları Dernegi ‐TYD) Established in 1988, TYD is a private, non‐governmental association comprising the principal tourism investors in Turkey. TYD members represent two thirds of all private investment in tourism in Turkey. The organisation’s objectives include increasing Turkey’s share of the global tourism industry, bringing together entrepreneurs who wish to invest in the tourism sector, and promoting the importance of the tourism sector to the Turkish economy to a wide audience. TYD members represent two thirds of private investment in tourism in Turkey and the organisation works with government and non‐governmental organisations in furthering its objectives. For further information, please visit www.ttyd.org.tr About Bench Events Bench Events has a long track record in co‐hosting the premier hotel investment events in Europe and the Middle East. Bench Events’ Chairman, Jonathan Worsley, is one of the organisers and founders of the highly successful International Hotel Investment Forum now in its fourteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai (www.arabianconference.com); in 2008 launched the Russia & CIS Hotel Investment Conference (www.russia‐cisconference.com). In 2011 Bench Events will co‐host the Central Asia and Turkey Hotel Investment Conference (www.cathic.com) , International Hotel Investment Forum, Asia Pacific (www.ihif‐ asiapacific.com) and launch Hotel Investment Conference Africa, in Morocco (www.africa‐ conference.com). Bench Events’ sister company, JW Bench, is a benchmarking company that has successfully launched the Conference Bench and the Productivity Bench. An industry first, the Conference Bench, measures performance data for conference and banqueting space in 10 cities throughout Europe and the Middle East. www.benchevents.com About HotelWorld Network – Questex Media Group LLC The HotelWorld Network encompasses a series of publications and live events that provide news and networking to the largest group of hospitality professionals in the industry. HotelWorld Network delivers hotel industry news through its print publications Hotel & Motel Management and Hotel Design magazines in addition to its innovative breaking‐news portal www.hotelworldnetwork.com. The HotelWorld Network also offers cutting‐edge educational content and valuable networking opportunities via its International Hotel Investment Forum (IHIF) Berlin, IHIF Asia Pacific, Russia & CIS Hotel Investment Conference, Distressed Hotels Summit, Central Asia & Turkey Hotel Investment Forum, HotelWorld Asia, and transform: design differently.