Market Research Reports, Inc. has announced the addition of “Travel and Tourism in Turkey to 2019” research report to their website http://www.MarketResearchReports.com
Lewes, DE -- (SBWIRE) -- 01/20/2015 -- 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.
- 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.
- The growth in outbound tourism can partially be attributed to the tourism promotion activities of other countries, conducted in Turkey. For example, on October 30 2013, Tourism Malaysia re-opened its office in Istanbul. On the same day, a Visit Malaysia Year 2014 Evening was organized, to raise awareness about Malaysian tourism offerings among Turkish tour operators and the media.
- Turkey's steady rise as an economic power is reflected in the growth of its aviation market. Steps to liberalize the market since 2002 resulted in the growth of both domestic and international traffic, the opening of new routes, and a reduction in average air fares. Total revenue registered a double-digit historic period CAGR of 21.96%.
- The financial downturn in Europe and the political crises in North African and the Middle East countries favorably affected the Turkish hotel market, as the country acted as a substitute to many of its neighboring countries such as Greece, Egypt, and Syria.
- The car rental market value increased at a robust CAGR of 16.26%, rising from TRY220.2 million (US$146.5 million) in 2010 to TRY402.2 million (US$199.3 million) in 2014.
Turkey's travel intermediaries' industry value increased at a CAGR of 9.26%, from TRY9.4 billion (US$6.2 billion) in 2010 to TRY13.3 billion (US$6.6 billion) in 2014. This growth has been driven by increases in leisure and business travel, and a rise in online bookings.
The report provides detailed market analysis, information and insights, including:
- Historic and forecast tourist volumes covering the entire Turkey's travel and tourism sector
- Detailed analysis of tourist spending patterns in Turkey for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
- Detailed market classification across each category, with analysis using similar metrics
- Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
Reasons to Buy:
- Take strategic business decisions using historic and forecast market data related to the travel and tourism sector in Turkey.
- Understand the demand-side dynamics within Turkey's travel and tourism sector, along with key market trends and growth opportunities.
Spanning over 143 pages, 134 Tables and 80 Figures "Travel and Tourism in Turkey to 2019" report Covering Executive Summary, Travel and Tourism Sector In Context, Country Fact Sheet, Tourism Flows, Airlines, Hotels, Car Rental, Travel Intermediaries, Tourism Board Profile, Airport Profiles, Company Profiles, Market Data Analysis, Appendix. This report Covered These Companies - Turk HavaYollari AO, Onur Air, Pegasus Airlines Inc., GunesEkspressHavacilik A.S., AtlasjetHavac?l?k AS, Wyndham Hotels Turkey, Anemon Hotels, Hilton Hotels Turkey, Best Western International Turkey, InterContinental Hotels Turkey, Avis Turkey, Car Rent Istanbul, Proper Car Rental, Europcar Turkey Car Rental, Intercity Rent a Car, TUI Turkey, Thomas Cook Turkey, Budget Tours Turkey, Mercan Tourism, Diana Travel.
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