Recently published research from Business Monitor International, "Turkey Tourism Report Q2 2013", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 07/10/2013 --This quarter BMI has revised and restructured its tourism reports, incorporating a greater range of data and focusing on the hotel industry, the value of the tourism industry itself, and the impact of macroeconomic factors.

We believe that Turkey offers a great deal of investment potential to large tourist industries - particularly global hotel groups - as they seek to maximise the growth opportunities being offered by the local market at the present time.

In 2012, a total of 31,782,832 tourists visited Turkey, representing growth of 1.04%, according to BMI estimates. Looking forward, we remain very positive about the outlook for Turkish tourism between 2013 and 2017, although there is always a risk that sentiment towards the local tourist industry could be dented by potential terrorist attacks or other domestic security issues.

View Full Report Details and Table of Contents

For 2013, BMI is predicting an increase of 3.5% in total tourist arrivals. The outlook for foreign visitors over the forecast period will remain strongly influenced by real GDP growth in the eurozone - one of the key source regions for tourists. At the present time, BMI is forecasting flat growth for the eurozone in 2013, rising to 1.2% in 2014. Limited economic growth in two major source markets, the UK and Germany, is also expected to constrain inbound tourism over the short term.

However, Turkey also receives a significant amount of inbound tourism from the faster-growing CEE region and, in particular, Russia. Much of the CEE region is currently booming and various tourist industries, particularly the large global hotel chains, are looking towards the CEE region now as they see it as a potentially lucrative market. A large part of this growth will be seen in intra-CEE tourism, and Turkey's future tourism arrivals will reflect this. Higher disposable incomes from Russia and other former states of the Soviet Union should also lead to increased outbound tourism demand for CEE countries such as Turkey over the medium term.

Encouragingly for the longer-term development of the local tourism industry, there is a good deal of diversification in the Top 10 source markets for inbound tourism to Turkey. Four of the Top 10 countries are from Western Europe (Germany, UK. Netherlands and France); three are from Eastern Europe (Russia, Bulgaria and Georgia); two are from the Middle East (Syria and Iran) and one from North America (the USA).

Over the forecast period to 2017, BMI is forecasting that some 600 hotels and other accommodation establishments will open in Turkey, reflecting the higher visitor numbers that we expect over the coming years. This will equate to some 16,180 extra rooms. The country is currently perceived as offering extremely attractive investment opportunities for hotel groups and other tourist-related industries, largely due to rising domestic tourism and regional tourism, supported by an increase in higher disposable incomes.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Consumer Goods research reports at Fast Market Research

You may also be interested in these related reports:

- Croatia Tourism Report Q3 2013
- Caribbean Tourism Report Q2 2013
- Czech Republic Tourism Report Q3 2013
- Kenya Tourism Report Q3 2013
- Japan Tourism Report Q3 2013
- Oman Tourism Report Q3 2013
- United Kingdom Tourism Report Q3 2013
- Vietnam Tourism Report Q2 2013
- India Tourism Report Q3 2013
- Romania Tourism Report Q3 2013