New market study, "Travel and Tourism in Turkey to 2019", has been published

The Turkish travel and tourism sector performed well during the historic period (2010-2014), with growth recorded in both domestic and international tourist volumes. The Travel and Tourism intelligence center expects growth to continue over the forecast period (2015-2019), driven by government initiatives to promote Turkish tourism offerings in key European source markets and emerging markets such as India, growth in business-related tourism and an increase in air traffic.

Key Findings

* Total domestic tourist expenditure posted a CAGR of 11.47%, increasing from TRY16.6 billion (US$11.1 billion) in 2010 to TRY25.7 billion (US$12.7 billion) in 2014. The growth is driven by the increase in mean household income and the depreciation of the Turkish lira.
* International arrivals increased at a CAGR of 6.7%, from 27 million in 2010 to 35 million in 2014. Inbound tourist expenditure increased at a CAGR of 17.17%, from TRY37.5 billion (US$24.9 billion) in 2010 to TRY70.6 billion (US$35 billion) in 2014. Growth in international arrivals and expenditure can be attributed to the government's tourism promotion efforts and the rise of business-related tourism.
* Turkish residents' preference for taking domestic holidays is reflected in the low number of outbound trips made; 9.0 million in 2014, compared to 72.6 million domestic trips. Outbound tourism from Turkey increased from 6.9 million in 2010 to 9.0 million in 2014, at a CAGR of 6.89%. Outbound tourist expenditure increased at a CAGR of 6.76%, from TRY8.8 billion (US$5.9 billion) in 2010 to TRY11.5 billion (US$5.7 billion) in 2014.
* Turkey is making continuous efforts to promote itself as a leading medical tourism destination. According to the Turkish Ministry of Health, the country received 270,000 medical tourists in 2012. The country's medical tourism offerings include dentistry, optometry, orthopedics, plastic surgery, spa, and healthcare services.
* The Turkish lira depreciated against the US dollar during the historic period, with declines recorded at rates of -10.3%, -6.7%, -5.0%, and -6.3% in 2011, 2012, 2013, and 2014 respectively. Overall, the lira depreciated at a CAGR of -7.1% during the historic period, primarily due to a fall in confidence in the region following the ongoing Syrian conflict.
* Hosting international events not only helps to increase inbound tourism, but also presents the country's tourism offerings on an international platform. In 2014, the number of attendees reached 136,730, of which 63,230 were trade visitors and 73,500 were public visitors.

Full Report Details at
- http://www.fastmr.com/prod/955687_travel_and_tourism_in_turkey_to_2019.aspx?afid=301

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