Banking on Turkish Riviera
International tourism giants see massive potential on Turkey’s Mediterranean beaches
Tourism in Turkey is on the eve of a new era. Global tourism giants are in search of opportunities to bring their brands to Turkey. If this interest develops into investments, an important threshold in the country’s tourism revenues will be exceeded. Marti Hotels & Marinas Vice President, Emre Narin, said that there is a great interest in making investments and almost all of the global tourism brands, mainly Spanish and American, are pursuing investment opportunities on Turkey’s southern coast.
Narin said Marti is holding meetings with foreign chains for joint investments in Bodrum and Marmaris and returned with very positive impressions from a trade show in Berlin which brought together important investors. “You see important global tourism brands in our cities, but you cannot see them at our coasts,” Narin said. “Turkey is far beyond the Western world in the resort hotel business but tourism income is low. This is related to branding and destination management. International recognition is very important. But the image of Turkey’s coasts will change within 2-3 years. I have been attending these fairs for years. I have never seen such an appetite.”
So, what is the reason behind this appetite? According to Narin, Turkey has remained cheap while its competitors have reached their peak pricing levels. “There is no other coastline like Turkey in the Mediterranean,” he said. “The sea of one is cold, the other has a short season and they are not good at all-inclusive. For this reason, the big chains have turned their eyes here. Prices will automatically increase when global brands arrive. That is what the industry needs,” he said.
A price increase of $10 per night could produce a $3 billion increase in tourism revenue, Narin noted.
Br ts pour ng nto Turkey
German and Russian tourists who went to Spain or Greece in 2016 returned to Turkey in 2017. The effects of the Brexit on the euro-pound exchange rate has also made Turkey a more attractive, and cheaper, destination. Narin also said that international conferences are coming back for the second half of 2019. His prediction is that Turkey should prepare to break records in tourism over the next two years.
“Antalya this year will host 1213 million tourists,” Narin said. “I think Istanbul will reach this level in 2019. The Europeans are returning. The number of German tourists used to be over 5 million but fell to 2.5 million. This figure will exceed 4 million and return to normal. The Russians will break a record. Flights to Kiev from Izmir, Bodrum and Dalaman are starting. There will be a flight from Kiev to Izmir every day. Ukraine is a tremendous potential. Ryanair begins flying to Dalaman. These are very positive developments.”