Tourism Economy of Turkey

1. NEAR EAST UNIVERSITY
SCHOOL OF TOURISM AND HOTEL
MANAGENENT
THM 315 – TOURISM ECONOMY
Student: Musa NACAFOV / 20102228
Instructor: Derviş YÜKSEL
Project:
Tourism Economy of Turkey

2. Tourism in Turkey
The economy of Turkey is defined as
an emerging market economy by
the IMF. Turkey is among the
world's developed countries according to
the CIA World Factbook. Turkey is also
defined by economists and political scientists
as one of the world's newly industrialized
countries. The country is among the world's
leading producers of agricultural products;
textiles; motor vehicles, ships and other
transportation equipment; construction
materials; consumer electronics and home
appliances. In recent years, Turkey had a
rapidly growing private sector, yet the state
still plays a major role
in industry, banking, transport,

3. Turkey has had an impressive decade of expansion that saw
GDP rise from $196bn in 2001 to $787bn in 2012, or about
$10,400 per capita. Since 2001, real growth has averaged
more than 5% per year, an extraordinary rate for a middle-
income country that imports most of its raw materials. A young
and mobile population provides a natural tailwind to growth,
while a high level of diversification in terms of products and
markets has helped the Turkish economy bounce back
strongly from recent global and regional crises. Despite a
decline in growth in 2012, Turkey’s performance was regarded
as impressive, given that much of emerging Europe fell into
recession. However, it needs to be wary of falling into the
“middle-income trap”, although there is no good evidence that
countries in its income bracket are especially prone to severe
slowdowns. Turkey’s open economic model might miss some
short-term gains by eschewing such tactics as export
subsidies and import restrictions, but that restraint has also
made it into one of the more competitive emerging markets,
demonstrated by its high average growth rates and relatively
high incomes. This chapter contains interviews with Nicole
Bricq, French Minister for Foreign Trade; Ahmet Aksu,
President, Turkish Privatisation Administration; Ali Sabancı,
Chairman, Pegasus Airlines; and Mark Lewis, Senior Resident
Representative in Turkey, IMF.

4. Tourism Economy of Turkey
Tourist Arrivals in Turkey decreased to 3439554 in October of
2014 from 4352429 in September of 2014. Tourist Arrivals in
Turkey averaged 1530376.61 from 1993 until 2014, reaching
an all time high of 5296323 in August of 2014 and a record
low of 213998 in January of 1993. Tourist Arrivals in Turkey is
reported by the Turkish Statistical Institute.

5. Turkish Lira Hits New Record Low
 The US Dollar increased to 2.32 Turkish Lira Hits New
Record Low in December from 2.21 in November of 2014.
The Turkish Lira Hits New Record Low averaged 1.09 from
1981 until 2014, reaching an all time high of 2.36 in
December of 2014 and a record low of 0 in March of 1981.

6. Turkey GDP
 The Gross Domestic Product (GDP) in Turkey was worth
820.21 billion US dollars in 2013. The GDP value of Turkey
represents 1.32 percent of the world economy. GDP in Turkey
averaged 197.27 USD Billion from 1960 until 2013, reaching
an all time high of 820.21 USD Billion in 2013 and a record
low of 8 USD Billion in 1961. GDP in Turkey is reported by
the World Bank Group.

7. Turkey Industrial Production
 Industrial Production in Turkey increased 2.40 percent in
October of 2014 over the same month in the previous year.
Industrial Production in Turkey averaged 4.58 percent from
1986 until 2014, reaching an all time high of 25.20 percent in
December of 2009 and a record low of -23.70 percent in
February of 2009. Industrial Production in Turkey is reported
by the Turkish Statistical Institute.

8. Turkey - International tourism
International tourism, number of arrivals
 The value for International tourism, number of arrivals in
Turkey was 34,038,000 as of 2011. As the graph below
shows, over the past 16 years this indicator reached a
maximum value of 34,038,000 in 2011 and a minimum value
of 6,893,000 in 1999.

9. International tourism, number of
departures
 The value for International tourism, number of departures in
Turkey was 6,282,000 as of 2011. As the graph below shows,
over the past 16 years this indicator reached a maximum
value of 8,275,000 in 2006 and a minimum value of
3,981,000 in 1995.

10. Turkey Tourism SWOT
 Strengths:ƒTurkey has among the highest international tourism receipts in
the world.
There is a strong tradition of beach-based mass tourism.
 Weaknesses: ƒBomb attacks in tourism destinations remain a threat.
Controversy surrounding the pope’s comments on Islam in 2006 showed
how
sensitive the global geopolitical climate is for secular states with large
Muslim
populations.
 Opportunities:ƒGolf tourism is expected to pick up in the coming years.
Development of health tourism, attracting visitors from Europe and the
Middle East.
Conference tourism.
Promoting cultural tourism.
ƒAttracting higher value visitors.
 Threats: ƒTurkey continues to struggle with domestic political violence, with
high-profile terrorist
attacks and abductions of foreign tourists taking place in recent years.
Periodic major earthquakes.

11. The economic contribution of
Travel & Tourism: Real 2013 prices

13. Direct Contribution of Travel &
Tourism to GDP

14. Visitor Exports And International
Tourist Arrivals

15. The global travel & tourism industry is expected
to show strong growth over the coming years
driven by strong demand

17. Turkey’s travel & tourism revenues rose from 2007
- 2012 despite a shaky global economy

18. A quick look at the value chain: both
for inbound and outbound tourism

19. References
 http://en.wikipedia.org/wiki/Economy_of_Turkey
 http://www.tradingeconomics.com/turkey/industrial-
production
 https://www.google.com.cy/url?sa=t&rct=j&q=&esrc=s&
source=web&cd=2&cad=rja&uact=8&ved=0CCQQFjAB
&url=http%3A%2F%2Fwww.wttc.org%2Fmedia%2Ffiles
%2Freports%2Feconomic%2520impact%2520research
%2Fcountry%2520reports%2Fturkey2014.pdf&ei=bZal
VIbyAaGE7gbfi4DQDg&usg=AFQjCNGcXdOHV9Ne9L
ObKgcAK3TO2Esxyw&bvm=bv.82001339,d.d2s
 http://www.invest.gov.tr/pt-
PT/infocenter/publications/Documents/TOURISM-
INDUSTRY.pdf
 http://www.indexmundi.com/facts/turkey/international-
tourism