Turkish tourism significantly affected by Russian sanctions
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Turkish tourism industry is shaking due to Russian sanctions and concerns about country security
Turkish hoteliers were left on the brink of bankruptcy, as more than 1.300 Mediterranean coast Turkish hotels have been listed for sale for a total of 38.8 billion Turkish liras ($13.1 billion).
This comes after Russia imposed sanctions over Turkey following the airplane incident last year, when a Russian warplane was shot down over Syrian territory by a fighter jet belonging to Turkey, leaving 2 Russian pilots dead.
Abdurrahman Karamanlıoglu, managing director at the Denizli Colossae Thermal Hotel explains:
“We talk the realities but officials put a ‘brave face’ on the issue. We have been heavily affected from the jet crisis. Especially the hotels in Antalya, being closed for the last four months, most of those are on the verge of bankruptcy.”
Sanctions from Moscow came in addition of an already stagnant Turkish tourism industry. Russia choose to introduce new visa regulations, issue travel warnings for Russian tourists and put a stop in the two countries' tourism relationships. Kremlin decided that no holiday packages to Turkey will be sold by Russian travel agencies.
As a consequence, Turkey's tourism revenue decreased by 8.3 per cent in 2015, as it accounts for 11 per cent of the country's GDP. According to experts, Turkey will lose 4.5 million Russian tourists in 2016, which translates into a $7 billion tourism income loss.
Turkish hoteliers were left on the brink of bankruptcy, as more than 1.300 Mediterranean coast Turkish hotels have been listed for sale for a total of 38.8 billion Turkish liras ($13.1 billion).
This comes after Russia imposed sanctions over Turkey following the airplane incident last year, when a Russian warplane was shot down over Syrian territory by a fighter jet belonging to Turkey, leaving 2 Russian pilots dead.
Abdurrahman Karamanlıoglu, managing director at the Denizli Colossae Thermal Hotel explains:
“We talk the realities but officials put a ‘brave face’ on the issue. We have been heavily affected from the jet crisis. Especially the hotels in Antalya, being closed for the last four months, most of those are on the verge of bankruptcy.”
Sanctions from Moscow came in addition of an already stagnant Turkish tourism industry. Russia choose to introduce new visa regulations, issue travel warnings for Russian tourists and put a stop in the two countries' tourism relationships. Kremlin decided that no holiday packages to Turkey will be sold by Russian travel agencies.
As a consequence, Turkey's tourism revenue decreased by 8.3 per cent in 2015, as it accounts for 11 per cent of the country's GDP. According to experts, Turkey will lose 4.5 million Russian tourists in 2016, which translates into a $7 billion tourism income loss.
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