Turkey: Emerging as a Value-based Destination Amidst Economic Slowdown

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"2009 promises to be a year of heavy tourism promotion for Turkey despite the global economic crisis. A massive new tourism promotion campaign in 80 countries starting in January will work to attract more visitors and strengthen Turkey as a global brand."¹

- Guven Tasbasi, director general for promotion in the Ministry of Culture and Tourism, in 2009.

"The Turkish tourism sector will ultimately be positively affected by the [economic] crisis. People will continue going on holiday, but now, instead of going to Italy or Spain and paying a lot more for worse service, people will choose to come to Turkey."²

Hacer Aydin, Director, Eastern Mediterranean Tourism Fair³ (EMITT), in 2009.

Turkey - 'Queen of the Mediterranean'

In 2008, despite the global economic recession4, tourist arrivals in Turkey increased by around 12.5% to 26.2 million from 23.3 million in 2007.5 The heavy inflow of tourists during this period was mainly attributed to the affordability factor as cost conscious tourists considered Turkey a good value destination compared to the traditionally expensive options. According to analysts, the tourism sector in Turkey was one of those showing the greatest progress in the world and the key to the continued attraction that the country held for visitors was the careful coordination between marketing and planning of the rich tourism resources of the country.

Turkey: Emerging as a Value-based Destination Amidst Economic Slowdown - Next Page>>

1] "UAE Agency Wins Turkey Tourism Contract," www.tradearabia.com, February 9, 2009.
2] "Turkish Tourism Sector Emerging from Crisis Stronger," www.traveldailynews.com, February 2, 2009.
3] The 13th annual International Eastern Mediterranean Tourism Fair was held between February 12 and 15, 2009, in Istanbul. Considered the most important travel and tourism fair in the Eastern Mediterranean region, it featured exhibitors from more than 55 countries.
4] The global economic crisis began in July 2007 due to a loss in the value of securitized mortgages in the US resulted in a liquidity crisis. The reasons attributed for the downfall of the economy were collapse of the US mortgage market that led to the bursting of the housing bubble in the US, soaring commodity prices, and stock market volatility. In September 2008, the crisis deepened, as stock markets crashed worldwide, large financial institutions collapsed, and several mortgage lenders and insurance companies went bankrupt.
5] "Promotional Campaigns Boosting Tourists Flow in Turkey," www.rncos.com, March 27, 2009.

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