Business

Hotel business looks bright in Turkiye

Due to the catastrophic earthquakes in Turkiye’s southern border with Syria, Turkiye’s tourism boom of late could bring some optimism for the country toward its path to recovery.

As per data from the Ministry of Culture and Tourism in Turkiye, last year, the country greeted more than 51.4 million tourists, which is 99% of the prior to the pandemic records of 2019.

Among these travelers,44.6 million were overseas tourists, marking an increase of 80.3% from 2021.

Of all global arrivals in 2022, Germans topped the list with almost 5.7 million. Russians came thereafter with 5.2 million.

Travellers from the UK, Bulgaria and Iran also made their presence among the top five.

Considering the current numbers, Turkiye has emerged as the third largest tourism market in the world.
This is indeed good news for promising hotel developers and brands who are banking on Turkiye.

Already listed in the high end of the market are around 35 projects, including 5,648 keys.

A minimum of US$973 million of top-notch hotels funding is geared toward the large country which straddles the European and Middle Eastern boundaries.

The tourist center of Istanbul is becoming a huge attraction for hotel advancement as well, topping the city chart with around 10 projects going on at the moment.

Source
travelandtourworld

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