Tourism sector in Turkey: recovery or decline?

In early 2022, the tourism industry in Turkey was expected to help rebuild the country's economy. Despite this, state officials noted that sharp increases in wages and prices for utilities and food would limit profits. 

The vice-chairman of the Turkish Hoteliers Federation noted that according to preliminary data, the flow of tourists from the UK who booked holidays has already exceeded the figures for 2019. At the same time, higher demand is expected from other European countries, Russia and Central Asia. 

A tourism revenue target of $34.5 billion has also been set for 2022. However, according to Finance Minister Nureddin Nebati, it will be especially important to take into account the cost aspect – with greater electricity consumption and gas costs, more funds will have to be spent on supporting the tourism sector.

Some representatives of the hotel business have already had to raise prices to maintain the ability to operate. Ulkay Atmaca, general manager of the Innvista Hotel Belek in Antalya, said he had to raise prices by 42% this season but was still unable to make up for the rising costs.