The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals Turkey’s travel and tourism’s GDP is forecast to grow at an average rate of 5.5% annually over the next decade, more than twice the 2.5% growth rate of country’s overall economy.
The forecast from the World Travel & Tourism Council (WTTC) shows by 2032, the sector’s contribution to the nations GDP could reach nearly TRY 1,036 billion (US$117 billion), representing 11% of the total economy. The sector is also expected to create more than 716,000 new jobs over the next decade.
By the end of this year, the sector’s contribution to GDP is expected to grow 15.5% to nearly TRY 607 billion (US$68.5 billion), amounting to 8.3% of the nation’s economy, while employment in the sector is set to grow by 4% to reach more than 2.5 million jobs.
Latest flight booking data shows that over the key summer period this year, Turkey is set to be the fourth most popular European hot spots amongst sun-seeking travellers, who will be heading to city destinations such as Istanbul, and the beaches of Antalya, Bodrum, and Dalaman.