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US dominates global travel and tourism market

The 2024 Economic Impact Trends Report launched by the World Travel & Tourism Council (WTTC) reveals that the United States continues to be the world's most powerful travel and tourism market. The US holds the top position in terms of both overall travel and tourism contribution to GDP and international visitor spend. Last year, the US travel and tourism sector contributed nearly $2.36 trillion to the national economy, reinforcing its status as a global leader. The latest report from the global tourism body also reveals China as the world’s second most powerful market with a GDP contribution of $1.3 trillion in 2023, underscoring its impressive rebound, despite the late reopening of its borders. While Germany secured the third spot with a $487.6 billion economic contribution, while Japan, which in 2022 was in fifth place, jumped up to fourth position, contributing $297 billion. The United Kingdom completes the top five, contributing $295.2 billion. France, the world’s most popular destination retained its sixth position with a contribution of $264.7 billion, followed closely by Mexico at $261.6 billion, showcasing its continued appeal as a major tourist destination. India came in eighth, rising from a previous 10th position, with $231.6 billion, marking a notable improvement and highlighting its growing influence in the sector. Italy and Spain complete the top 10, contributing $231.3 billion and $227.9 billion, respectively. Julia Simpson, WTTC President & CEO, said, "As we look forward to a record-breaking 2024, it's clear that Travel & Tourism is not only back on track, but also set to achieve unprecedented growth. We will continue to prioritise sustainability and inclusivity, ensuring that this growth benefits everyone and protects our planet for future generations. The sector's resilience and potential for innovation continues to drive us forward.” Globally, international visitor spending is set to grow by nearly 16 per cent to reach $1.9 trillion, while domestic tourists are projected to spend more than ever before, reaching $5.4 trillion, an increase of 10.3 per cent over 2019 levels. Travel & Tourism investment grew 13 per cent in 2023 and is set to reach more than $1 trillion, with a return to pre-pandemic levels anticipated by 2025. The report also highlights the sector's commitment to sustainability, showcasing the decoupling of growth from greenhouse gas emissions and the increasing opportunities for women, young people, and marginalised communities. Technological advancements, particularly in AI, are expected to further enhance the travel experience and drive future growth. Source: BW Hotelier

Economic confidence at a 3-year low

The Turkish Statistical Institute released the Economic Confidence Index data for August. According to the data, the index, which was 94.4 in July, decreased by 1.3% in August, dropping to 93.1. During the same period, the Consumer Confidence Index increased by 0.6% to 76.4. The Real Sector (Manufacturing Industry) Confidence Index fell by 0.7% to 98. The Services Sector Confidence Index decreased by 2% to 111.8, while the Retail Trade Sector Confidence Index increased by 0.8% to 107.9, and the Construction Sector Confidence Index rose by 1.1% to 88.

Cruise Tourism Brings Economic Transformation

Speaking ahead of Maritime and Cabotage Day, Emrah Yılmaz Çavuşoğlu, Chairman of Camelot Maritime, stated, "Our country is attracting the attention of the entire world. In 2023, we managed to reach 1.5 million cruise passengers, and we expect this number to reach 2 million tourists in 2024." Turkey has gained significant momentum in cruise tourism in recent years, and the technical development of its cruise ports is attracting global interest. The rise in Turkey's cruise tourism, combined with the country's stunning natural beauty and rich historical heritage, has made it an important tourist destination. Emphasizing the significance of Maritime and Cabotage Day, celebrated as a national holiday on July 1, Emrah Yılmaz Çavuşoğlu highlighted that Turkey has become an attractive destination for cruise companies and passengers. Çavuşoğlu stated, "Improvements in port infrastructure and investments in tourist sites are enhancing Turkey's competitiveness in the international cruise market, further strengthening its potential in the tourism sector." "We Will Stand Out with Cruise Tourism" Emrah Yılmaz Çavuşoğlu, emphasizing the improvements in port infrastructure and investments in tourist destinations, highlighted that these contribute to increasing our country's competitiveness in the cruise market and sustainable tourism development. Predicting that the number of passengers, which was 1.5 million in 2023, could reach 2 million in 2024, Çavuşoğlu stated, "The number of cruise reservations made to Turkish ports has exceeded 1,400 so far. In 2023, this number was around 1,200. It is expected that the number of reservations will reach 1,600 in the coming months. Ships with capacities ranging from 1,000 to 5,500 passengers dock at Turkish ports. We expect the number of passengers, which was 1.5 million in 2023, to reach 2 million in 2024." Gürbüz Can, General Manager of Camelot Maritime, reminded us of the importance of not forgetting our sailors during these days of celebrating Cabotage Day. He said, "With the entry of new and large cruise ships after the pandemic, it is expected that 1.5 million seafarers will be employed at sea by 2025. Turkish tourism workers have a great potential, especially for the growing cruise and mega yacht sectors. However, we still haven't resolved the international travel issues for our professional sailors. Visa issues for seafarers are causing us to receive a smaller share of the growing employment pie. Unless this issue is resolved, Turkish maritime industry will lag behind. In line with the importance of Cabotage Day, it is essential that we find solutions to the problems faced by our sailors."

Luxury hotels suffered losses, tourists contributed to the economy

The effects of the earthquake and the Russia-Ukraine war, along with the ability to open the season in the second half, allowed the tourism sector to finish the year in line with its targets. Upper-segment hotels contracted, while economic hotels experienced an upswing. Cornelia Diamond Golf Resort & Spa General Manager Zafer Alkaya, describing 2023 as a good season in terms of tourist numbers, highlighted that tourists showed interest in hotels operating in the economic segments. He noted that especially in holiday destinations such as Belek, a prominent golf region, the expected occupancy levels were not achieved. FAILED TO GAIN MOMENTUM Speaking about the situation, Alkaya stated, "Tourists are coming, but they are not showing interest in upper-segment products. Tourism is a whole. To achieve the ideal tourism revenue, each segment needs to fulfill its function." Alkaya mentioned that although revenues increased, the occupancy rate in luxury hotels, which was typically around 60%, dropped to the 50s. Alkaya pointed out that there was a challenging period until August, but the sector recovered afterward. He said, "There was no occupancy problem in Alanya, Side, and Kemer. The reason is that Belek has quality products and upper-segment villas. In the past, there was no obvious problem in the region. It surprised us; it was an unexpected situation." THE IMPACT OF THE RUSSIA-UKRAINE WAR Alkaya stated that the Russia-Ukraine war affected the sector, and Ukraine was almost lost. He mentioned, "Our target was 7-8 million Russians, but it dropped to 5-6 million. We are not achieving the expected momentum due to the depreciation of the ruble. There is also the impact of the earthquake. The earthquake created an unexpected trauma for both us and the countries we attract tourists from." It was noted that the majority of tourists who came to Turkey this year did not show interest in upper-segment products. 'BUSINESSES CANNOT SURVIVE' Alkaya highlighted that this year, local tourists stood out in Belek, and growth is expected again in 2024. He emphasized that Belek is an important region with 16 golf courses and mentioned that Turkey competes with Portugal, which has 180 golf courses, and Spain, which has 400 courses. Alkaya pointed out that Turkey has more reasonable prices compared to its rivals like Spain. He said that as long as inflation continues, there will be price increases, stating, "If costs are not reflected, businesses cannot survive."

Iranian tourists stimulate the economy

The opening of the Kapıköy Border Gate, which is located in the Saray district of Van and connects Turkey to Iran, contributed to the revival of urban tourism. Iranian tourists, who came to Van during the official holidays in their countries, preferred Van for their vacation in the summer period. The occupancy of the hotels reached 100 percent, with the density of tourists coming in groups or with their own vehicles, and the activity in the bazaar increased. "Van is a star for Iranians, we want to shine this star" Emphasizing that the tourists coming from the neighboring country are of vital importance for the Van economy, Çeliktaş noted that they attach importance to welcoming the guests who want to spend their holidays in the city in the best possible way and to ensure that they return to their country happily. Pointing out that the density has increased as the border gate provides services 24 hours a day, 7 days a week, Çeliktaş said: "With the elimination of time problems, they flocked to our city. There was no room in the hotels. The people of Van hosted many tourists in their homes. This year, we hosted 137 thousand Iranian tourists in the first 5 months. Our goal is to host more than 1 million tourists. Accordingly, investments are made. New accommodation places are constantly opened in our city. In this sense, we are hopeful. It is a very rich city in terms of tourism. We want to evaluate this. We are working towards this. Van is a star for Iranians, we want to shine this star." Noting that the tourists contribute to many sectors such as accommodation, textile and food in the city, Çeliktaş stated that tourism income is widespread and its reflections are rapid. "They bring vitality to every sector" Stating that he has been working as a tradesman in the city for 8 years, Tradesman Yusuf Acar said, "Iranians contribute to the entire city of Van. They bring vitality to every sector, whether it is clothing, food and beverage industry. As tradesmen, we need to appreciate the Iranians. We need to welcome them here." Stating that Iranian tourists increase the vitality of the city, tradesman Fikret Yonten said, "Iranians contribute to Van. The biggest hope of tradesmen is the arrival of Iranians. They touch all sectors. We must use this well." Iranian Parisa Zarei said, "My friends and I come to Van all the time. We like Van very much. We have a good time here." Expressing that she likes Van very much, Laya Şokri said, "People are very nice. We shop here. We visit places. It is a beautiful city. We love it."

Turkish travel spending more than doubled in 2022 season

Spending on local trips in Türkiye more than doubled in the third quarter of 2022, as domestic tourism mobility gained pace in a year marked by an overall rebound in foreign arrivals. Local travelers spent about TL 63.37 billion ($3.37 billion) on trips within Türkiye in the July-September period, the Turkish Statistical Institute (TurkStat) said, marking a 112.6% increase versus a year ago. The authority said nearly 19.16 million people traveled in the third quarter. The number of trips with one or more overnight stays rose 1.1% year-over-year to 23.38 million, the data showed. The travelers made approximately 225.21 million overnight stays. Average overnight stays were 9.6 nights per person, while spending per trip amounted to some TL 2,710, the institute said. Personal expenditures accounted for 88.7% of the overall spending, followed by tour expenditures, which represented 11.3%, or TL 7.17 billion. Food and drinks spending accounted for 31.8%, followed by transportation at 27.8% and accommodation at 15.1%, the data showed. Food and drinks expenditures rose 108.5% year-over-year, while the latter two were up 155.8% and 111.1%, respectively. The rebound in domestic tourism added to a buoyant 2022 season that saw a strong recovery in the number of foreign visitors arriving in Türkiye, after a 2020 slump owing to the COVID-19 pandemic. Backed by demand from European countries, foreign arrivals jumped 84.77% year-over-year in the January-November period of 2022, reaching 42.16 million people, matching pre-pandemic levels of 2019. With 5.48 million arrivals, Germans topped the list, followed by nearly 4.95 million arrivals from Russia and 3.3 million arrivals from the United Kingdom, according to the Culture and Tourism Ministry data. The arrivals have been mainly boosted by Russian visitors who were hit by flight restrictions by Western countries after Russia’s invasion of Ukraine. The rebound prompted the government to revise its year-end tourism targets several times throughout the year. Culture and Tourism Minister Mehmet Nuri Ersoy last month said they expected 51.5 million tourists and $46 billion in revenues in 2022. Estimates had stood at 45 million arrivals and $35 billion in income at the beginning of the year. Forecasts for 2023 have also been upgraded, as Türkiye now expects 60 million foreign visitors and $56 billion in revenue. Officials had hoped tourism this year could replicate or exceed 2019 figures when some 52 million visitors brought in $34 billion in revenue. The number of foreign visitors soared by 94.1% to 24.71 million in 2021 when COVID-19 measures were eased compared to 2020. Tourism revenues doubled to almost $25 billion but remained well below the recorded level in 2019. Revenues from January through September 2022 already reached $35 billion, according to data from TurkStat, up nearly 68% versus the same period in 2021. Tourism revenues are vital to Türkiye’s economy as the government’s new economic program focuses on flipping the current account deficits to a surplus, prioritizing exports, production and investments while curbing rising inflation. Source: Daily Sabah

Tourism professionals want a record in income, not in number

Despite the effects of the Russian-Ukrainian war, the tourism sector, which is preparing to close the year with 50 million tourists and 44 billion dollars in revenue, gave the message "Let's look at the price". Zafer Alkaya, Member of the Board of the Mediterranean Touristic Hoteliers and Operators Association and General Manager of Cornelia Diamond, emphasized that Turkey is the country that provides the best service in the Mediterranean basin, but that it should focus on the right per capita income level. Noting that Turkey competes with Spain here, but the income remains quite low, Alkaya continued: “We need to focus on income per capita. Occupancy will not get us where we want to go. Now, as Turkish tourism, what we deserve as Antalya tourism is to do marketing at the right prices. The right per capita income is the future of Turkish tourism. Not fullness. Our opponent is Spain. If we are going to play big, we have to play according to the rules of the Mediterranean bowl. While our competitor is pushing 1,500 dollars in per capita income, we need to exceed at least 1,000 dollars," he said. COMPETITION WITH SPAIN According to TUIK data, per capita income in the third quarter decreased by 17.5 percent compared to the same period of the previous year, from $1,036 to $855. Alkaya said that in 2022, the main market dilemma came out of the agenda last season, which was above the expectations, and that tourists from 65 countries entered Antalya and the number of tourists exceeded 13 million as of November. Cost increases hit 100 percent Zafer Alkaya stated that the costs are also pushing them hard and hotel prices will change between 25-50 percent in 2023. Stating that the facilities are having difficulties and price increases have come to an inevitable point, Alkaya expressed that they are faced with increases in operating costs at rates exceeding 100 percent from time to time.

Foreign card transactions in Turkey increased by 65%

According to the 2022 Mastercard Tourism Report, foreign card transactions in Turkey increased 225 percent in TL and 65 percent in dollars compared to the same period of the previous year. The "2022 Mastercard Tourism Report", which was implemented to shed light on tourism insights, has been concluded. Compared to the January-October period of last year, there was an increase in the dollar-based total expenditure in the same period of this year. The most important reason for this is the increase in the number of cards used, which indicates the increase in the number of tourists coming to Turkey. Both POS expenditures and cash withdrawals in Turkey increased 225 percent in TL terms and 65% in dollars compared to the same period of the previous year. The average spend by a tourist per card was $610. Turkey is mostly in demand from Germany, England and the USA. Nevşehir has become the city with the highest growth rate, with an increase of 155 percent in expenditures, with the intense interest of tourists from Europe and Asia Pacific countries. The guests of the city of fairy chimneys, which hosted more tourists in 2022 compared to the same period of the previous year, came from Australia, Italy, England, Indonesia and Spain. The provinces in which the tourists coming to Turkey were most popular were Istanbul (43 percent), Antalya (20 percent) and Muğla (8.7 percent), respectively. Looking at the expenditures made by international cards in Turkey, the top three countries are Germany (16 percent), England (14 percent) and the USA (10 percent). Among the 10 countries traveling to Turkey, Saudi Arabians, who doubled their spending compared to last year, had the highest growth rate with an increase of 9.5 times. Turkey became the second most preferred destination by Kuwaitis. The expenditures of Kuwaiti tourists in Turkey increased by 82 percent compared to last year. The average Kuwaiti spend per card was $1,749, nearly three times the overall average. The four sectors in which Middle Eastern tourists spend the most were clothing and accessories with 40 percent, accommodation with 22 percent, markets and shopping malls with 7 percent, and food and health/cosmetics with 6 percent. While European tourists spend the most money on food and beverage in Turkey, they also show interest in jewelery in Turkey, unlike competing destinations. While jewelry expenditures do not exceed 1 percent in their travels to other countries, approximately 10 percent of the expenditures made in Turkey is reserved for jewelry expenditures. The expectation of multiplier effect in health tourism While health expenditures made with international cards in Turkey grew by 94 percent between 2018 and 2021, the shrinkage experienced by the impact of Kovid-19 was compensated in 2021 and 2022. By the end of 2022, the number of spending cards in the healthcare sector is expected to be nearly twice as high as in 2021. When the foreign health expenditures in Turkey are examined, it is seen that hospitals make up 46 percent of this category, while private doctors make up 32 percent, pharmacies 17 percent and other items 5 percent. UK and Germany cards, on the other hand, correspond to approximately 40% of the expenditures made by international cards in the health sector in Turkey. While 47 percent of health expenditures occurred in Istanbul, the address of the most significant increase in the first 5 provinces compared to the previous year was Muğla with 179 percent. The most important results reflected in the report are "Germany, the country with the highest share in expenditures with 16 percent. England and the USA followed it. According to the report, which revealed that an average of 610 dollars was spent, Kuwait reached 3 times the average with 1,749 dollars, and became the leader in per capita spending. While Istanbul again stood out as the province with the highest spending, Antalya and Muğla ranked second and third, while Nevşehir achieved the highest expenditure growth. It has increased 12 times. With an increase of 3 times compared to last year, the biggest share in health tourism came from the British." summarized as. Source: BloombergHT

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