Travel and Tourism in Turkey to 2020

Mar 08, 2016, 16:24 ET from Reportlinker

NEW YORK, March 8, 2016 /PRNewswire/ -- Summary
Turkey's inbound tourism contracted in 2015 due to the sanction of Russia on Turkey due to the latter downing the former's warplane. In addition, security concerns in the country are expected to adversely impact international arrivals. Inbound trips are projected to grow at a CAGR of 5.7% over the forecast period (2015-2020). The growing economy will continue to drive domestic and outbound tourism over the coming years.

Key Findings
- Domestic and outbound tourism recorded strong growth in 2015 while inbound tourism declined. Inbound trips totaled 34.9 million in 2015, down by - 0.5%, which can be largely attributed to Russia's economic problems, diplomatic issues between Turkey and Russia, rising security concerns after the Arab spring, and the ongoing crisis in Syria. The alleged IS group attack in Istanbul on January 12, 2016 killed 10 German tourists and injured nine. It was the worst attack on German tourists abroad over the past 13 years. Such incidents are expected to keep tourists away from Turkey. Domestic trips were up by 4.5% in 2015, standing at 74.1 million, while outbound trips grew by 11.9% totaling 9.4 million. Growth in the domestic and outbound tourism segments was largely driven by increasing disposable incomes. VFR is the main purpose for domestic travel while leisure is the key reason for inbound and outbound travel. Over the forecast period (2016-2020), inbound trips, domestic trips, and outbound trips are projected to grow at a CAGR of 5.7%, 3.3%, and 9.1% respectively

- Turkey's state-owned carrier Turkish Airlines is helping the government boost medical tourism. In December 2015, the airline announced a 50% discount to medical tourists on flight tickets. The airline needs proof that the trip is for healthcare or medical purposes, a passport, electronic copy of the ticket, and registration of entry details at the clinic or hospital where they are being treated. Consequently, the rebate is retrospective and available only after the passenger has paid for their ticket. In recent years, Turkey has gained popularity for medical and spa tourism, supported by the government's promotion and investment

- Antalya in Turkey already had 600,000-bed capacity and the Mediterranean resort town is facing oversupply of rooms with 35,000 beds added each year. In 2015, as arrivals from Russia declined sharply, hoteliers slashed prices to increase occupancy rate. This has resulted in affordability and encouraged more domestic travelers to stay in hotels

Canadean's report - Travel and Tourism in Turkey to 2020 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

- Historic and forecast tourist volumes covering the entire Turkish Travel and Tourism sector

- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics

- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers

Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Turkey's Travel and Tourism sector

- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

- Direct the promotional efforts on the most promising markets by identifying the key source and destination countries
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