İş Bankası to Increase Credit Allocation for the Tourism Sector

The International Resort Tourism Congress, organized for the 13th time by the Mediterranean Hoteliers and Operators Association (AKTOB), has commenced at the Nest Congress Center in the Belek Tourism Region of Antalya.

Hakan Aran mentioned at the congress that they have embarked on a journey to identify certain sectors that will contribute to the country's economy as strategic priorities. He highlighted the significance of the tourism sector, noting its high multiplier effect, emphasizing that everyone benefits from tourism, from local handicrafts to restaurants, souvenir vendors to farmers.

Aran pointed out that Turkey's first century was marked by agriculture and industry, and he stated, "In the digital age, we believe that the contribution of tourism to the national economy in Turkey will increase, and the share of the national economy it receives will grow. We also expect that the loans provided by the banking sector to tourism will significantly increase."

He announced plans to transform the corporate branch in Antalya into a "Tourism Specialized Branch" and stated that they will open "Tourism Specialized Branches" in other cities that contribute the most to tourism income in the country, such as Muğla, Istanbul, and Izmir. These branches will exclusively offer products and services for the tourism sector, employing staff who understand the needs of the sector and speak the same language as sector representatives.

Aran noted that banking is a highly competitive sector. Highlighting the strength of public, non-governmental organizations, and relevant associations in the tourism sector, he mentioned that in Turkey, tourism is an area where everyone shares the same will, and he believes that tourism will be a significant milestone in Turkey's second-century story.

"We aim to increase the credit volume in the sector to $2 billion."

Hakan Aran stated that İş Bankası has consistently supported the tourism sector. He mentioned that they will make moves to at least double the amount of credit given to the sector so far, expressing, "We have a credit balance of $1 billion for the tourism sector. We aim to increase this $1 billion credit volume to $2 billion in the next two years. We will allocate an additional $1 billion in funds in a wide range of areas, from renovation loans to energy efficiency, waste management to green transformation, financing pre-season preparations to new facility investments, under the most favorable conditions. We believe that 2024-2025 could be investment years for the sector. Opportunities need to be thoroughly evaluated. If the next two years are spent on investments, 2026 will be an explosive year."

He stated that they would establish a "Tourism Banking Department" within the bank and, after the establishment of specialized branches in the strategically important sector, initially, they would support the sector through credit.

Aran also mentioned the implementation of a "Tourism Card" for the sector, stating that the payment periods of the cards would be adjusted according to the revenue structure of tourism, and they would create financial products tailored to the lifecycle of tourism professionals.