Turkey Financial News

Posted by meb at August 28th, 2008

Volkan Şimşek, president of the Turkish Professional Hotel Managers’ Assembly, has said the number of tourists visiting Turkey increased 23 percent this year, but that travelers stayed for less time on average compared to last year.

According to the Anatolia news agency, this year tourists stayed in Turkey for only nine days on average, down from 11 in 2007. Şimşek underlined that hotels in Antalya have had a hard time maintaining full occupancy. “By the end of this year the number of the tourists visiting Turkey will be 9 million, which means a 1.4 million increase compared to last year. However, the average overnight stay rate, which was 83 million, will decrease to 81 million,” Şimşek noted. Signifying that the hotels are not as crowded as they were last year, Şimşek asserted that even in the busiest period, generally in August, there are not enough tourists showing up at hotels. (more…)

Posted by meb at August 21st, 2008

The rising exchange value of the lira is seriously undermining the profitability of investments in the Turkish tourism industry despite a recent rise in activity, representatives of the sector claim.

Pointing out that the lira is still hovering around the same level as six years ago despite inflation, Turkish Hoteliers Federation (TÜROFED) President Ahmet Barut said entrepreneurs in the tourism business are suffering significant losses from the overvalued lira. He explained that 90 percent of foreign visitors use their own currencies during their holidays in Turkey, while hoteliers have to use the lira to pay for their expenses. Exporters and industrialists have also been complaining for the same reason, primarily blaming the central bank’s monetary policies. (more…)

Posted by meb at August 7th, 2008

Russian visitors to Turkey’s biggest tourism center, Antalya, have surpassed the number of tourists visiting the city from Germany for the first time since the beginning of the year.

Antalya received over 5 million foreign tourists in the first seven months of 2008, 1.27 million of them from Russia. This is a 27.64 percent increase over the same period last year. The number of German tourists increased by only 5.74 percent, for a total 1.21 million. (more…)

Posted by meb at July 28th, 2008

Turkey’s position on the edge of the Eurozone is paying dividends for the country’s tourism industry. With the euro continuing to rise and fuel prices pushing up the cost of long-haul flights, Turkey stands to gain as a mid-haul destination for British, Russian and Commonwealth of Independent States (CIS) tourists.

Data from the Turkish Tourism Ministry showed that 3.31 million total tourists visited Turkey in June, a 19 percent increase on the previous year’s figure. One of the most striking aspects of the data was the growing appeal of Turkey among British visitors. (more…)

Posted by meb at July 24th, 2008

After gaining prominence not only in Turkey but also across Europe and Russia, Turkish luxury hotel brand Rixos has entered the Southeast Asian market with a resort hotel in Thailand’s coastal town of Khao Lak.

The five-star Rixos Premium Khao Lak Hotel will start taking reservations this August, and the first guests will be welcomed in November 2008. The hotel has 300 rooms and suites, with a number of dining options designed to cater to a wide variety of tastes. Along with the accommodation, Rixos Premium Khao Lak Hotel will offer a wellness center aimed at reflecting the peaceful atmosphere of the area, while offering unique treks and relaxation. (more…)

Posted by meb at June 28th, 2008

Culture and Tourism Minister Ertuğrul Günay has stated that Turkey hosted 23.3 million tourists in 2007 and will this year aim to reach this figure by the end of August.

Participating in the Antalya Heading for 10 Millionth Tourist gala, which was organized by the Mediterranean Tourist Hoteliers Association (AKTOB) in Antalya on Thursday, Günay said: “Today one of our cities, Antalya, has made hosting 10 million tourists annually an easy target to achieve. This shows what a bright, successful and beautiful future Turkey will have.” (more…)

Posted by meb at June 24th, 2008

Foreign visitor attraction to Turkey’s tourism center of Antalya continues to grow, leading to full hotel occupancy even at the beginning of the summer season, Mediterranean Tourism Hotels Union (AKTOB) Chairman Sururi Çorabatır has said.

Tourism growth has seen a remarkable acceleration in the last five months, and this growth continued in June, Çorabatır said, adding: “Antalya hotel occupancy rates are at the highest levels. Even finding a single room is difficult. We expect high occupancy to continue until mid-October.” The chairman underlined that seasonal occupancy rate peaks had already been reached: “Antalya has entered high-occupancy season. Not only five-star hotels, but other accommodation facilities are also expected to reach 100 percent occupancy soon.” (more…)

Posted by meb at June 13th, 2008

Turkey has ranked fifth among 19 European countries and the US in terms of the cost of rental cars for UK holidaymakers in a new report by the UK Post Office’s travel services department.

The US came first, followed by Spain, Portugal and Netherlands.

Turkey is one of Europe’s cheapest destinations for UK tourists. It rated as the cheapest in car rental fees on the continent. High fuel costs, however, made it generally more expensive than the Eurozone trio of Spain, Portugal and the Netherlands.

In its’ “Motoring on the Continent” report, the UK Post Office revealed that Switzerland is now the only major motoring holiday destination where unleaded fuel costs less than 1 pound per liter. However, the report places Spain as the best value in Europe for both diesel fuel and motoring in a rental car. At 1 pound per liter, it is also cheapest in the Eurozone for unleaded petrol. Prices are around 30 percent lower than in either Belgium or the Netherlands, which are popular motoring holiday choices for UK tourists.

The cost of unleaded petrol rose substantially in all of the countries surveyed over the past 12 months. Increases ranged from 20 percent in Italy and the UK to 32 percent in France. But although these figures make the much-debated rise in UK petrol prices look comparatively modest, the falling value of the pound masks the true position in Europe.

Florida is the most popular US summer destination for UK tourists, with its competitive three-day rental rates and low fuel costs. The cost of motoring puts Florida way ahead of its continental rivals — 40 percent cheaper than the lowest-priced European country for unleaded and 36 percent less for diesel fuel. Spain proved to be the cheapest in Europe, with petrol prices half of those in Greece, the most expensive country surveyed.

source: Today’s Zaman