Turkey Travel and Tourism Market Anticipated to be Dominated by the International Tourist Segment Through 2027
The increasing
initiatives along with the introduction of favorable policies by the Turkey government
to boost the tourism industry in the country is primarily driving the growth of
the Turkey travel and tourism market.
According
to TechSci Research report on, “Turkey Travel & Tourism Market -By Region, Competition Forecast & Opportunities, 2027”, the Turkey travel and tourism market is
anticipated to witness robust CAGR over the forecast period 2023-2027. The
market growth can be attributed to the inflating disposable income of the
consumers along with their growing spending power on leisure and recreational
activities. Tourism in Turkey is largely focused on a variety of seaside
resorts such as Mediterranean and Aegean Sea and historical sites. The country is
also a popular destination for culture, spas, and healthcare. As a result,
Turkey comes among one of the top 10 destinations across the globe for tourism.
Moreover, the tourism sector directly affects the economy of Turkey, accounting
for 7.7 percent of the total employment, equivalent to 2.2 million people.
Therefore, the government of Turkey is taking initiatives to promote the travel
and tourism industry. The new “healthy tourism certificate” program has been
implemented to earn the confidence of tourists that Turkey is a safe
destination with rigorous checks on airlines, local transport, and hotels. Apart
from this, the growing medical tourism in the country is also adding to the
growth of the market. Turkey is one of the world’s leading healthcare
destinations due to the availability of high-quality health facilities.
Moreover, medical tourists have access to healthcare programs and thermal spas
who take five-star hotel accommodation in their package. All these aforementioned
factors are anticipated to propel the Turkey tourism and travel market over the
coming years.
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The Turkey travel & tourism market is
segmented by service offering, destination, the purpose of visit, competitive
landscape, and regional distribution. Based on the service offering, the market
is differentiated between ticket reservation, hotel booking, holiday/tour
packages, travel insurance, foreign exchange, visa services, conference/trade
fair services, and others. Among these, the holiday/tour packages segment is
anticipated to hold a prominent market share. Holiday/tour packages assist in
overall traveling, from booking flight tickets and hotels to easy visa
application. Moreover, the emergence of holiday/tour packages service providers
over online platforms has resulted in an increased number of travelers from all
over the world. In addition, the increasing internet and smartphone penetration
are also adding to the growth of this segment as it is convenient for the
traveler to book everything online via holiday/tour packages service providers.
By destination, the market is divided between
domestic tourists and international tourists. Among these, the international
tourist segment is expected to hold a significant share of the market due to
the several initiatives taken by the Turkey government to strengthen the
international tourism as it yields more revenue to the country. Tourism is
among one of the largest and fastest-growing industries and is an essential
source of employment in Turkey. Therefore, strategic marketing initiatives are
taken by the top market players and the government, such as less hustle in visa
offering to promote tourism adding to the growth of the international tourist
segment. Furthermore, after the Covid-19, with Turkey relaxing all the covid-related
restrictions for, several nations have received a high number of travelers in
the recent quarter. The country also made it easy for anyone to access their
visa if they had a valid UK or US visa.
Based on the purpose of the visit, the market
is segmented into business, leisure & recreation, education, medical,
social activity, and others. The leisure and recreation segment is anticipated
to hold a considerable market share in the coming years due to the inflating
disposable income of the consumers, and their growing preference for
personalized travel is creating a huge potential for luxury travel. However,
medical tourism is also anticipated to propel at a rapid pace in the country as
Turkey is one of the leading health tourism destinations across the world due
to the availability of high-quality healthcare facilities.
A list of major
market players of the Turkey travel and tourism market includes:
- G Adventures
- Exodus Travels
Limited
- Explore Worldwide
Ltd
- Europamundo
Vacation
- MWM Consultancy
(Scotland) Ltd.
- Cosmos Tours Ltd
- Topdeck Travel
Limited
- Insight Vacations
(Canada) Ltd.
- MacBackpackers
Limited
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“Turkey
stands as the 6th most popular tourist destination in the world. Turkey
represents vast employment opportunities in both established and newly
developing subsectors of the tourism industry. With its favorable location,
mega projects, and ambitious targets set for 2023, the tourism sector is anticipated
to grow at a rapid pace. Turkey’s regions like Eastern and Southeastern
Anatolia both have untapped potential for new investments. The Turkish
government is also supporting the investors by introducing policies such as
reduced utility prices and taxes along with formulating policies that are aimed
at eliminating any bureaucratic barriers that may hinder the growth in the
tourism sector.” said Mr. Karan Chechi, Research Director, TechSci Research, a
research based global management consulting firm.
“Turkey Travel & Tourism Market By Service
Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel
Insurance, Foreign Exchange, Visa Services, Conference/Trade Fair Services and
Others), By Destination (Domestic Tourist Vs International Tourist), By Purpose
of Visit (Business, Leisure & Recreation, Education, Medical, Social
Activity and Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of global
Turkey travel and tourism market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in global Turkey
travel and tourism market.
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