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Tourists, Foreign Buyers Flock to Turkey in High Numbers - 27 September 2010

Turkey’s tourism numbers have increased year-on-year an impressive seven percent, according to recent research. In the first seven months of this year alone, the country has already seen more than 16 million visitors.

The Eurasian country has poured a great deal of money into its tourism sector and expects that annual tourist numbers will reach 32 million by 2012. Other projections suggest a further tourism jump of 12.1 percent by 2013.

Turkey’s affordability, accessibility, natural beauty and well-planned infrastructure have been major contributors to its rising popularity. The Eurasian country also has a strong economy, low cost of living, low inflation low interest rates and low property prices, which foreign buyers have taken notice of.

Since 2008, the number of foreign property owners in Turkey has increased from 73,000 to the current 104,000. More 32,000 Britons now own property in Turkey, making them the largest group of foreign buyers there.

The country is one the fastest emerging markets in the world and seems unstoppable, according to experts. GDP has grown 11 percent in the first six months of this year, un-rivaling any of its European neighbors.

Much of the recent talk about Turkey has been over its possible EU accession. If the country does become part of the union, property purchased in these pre-accession years is expected to rise in value. But even without joining, the country will most likely continue to have great ties and increased trade with European countries and visa accessibility is already a non-issue. Experts have even argued that accession with an economically unsteady Europe could hinder Turkey’s fiscal stability.

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