Local tourism sector eyes fruitful 2021 season with safety measures

WITH the tourism season not far ahead, the Turkish tourism industry representatives put their hope in measures that the country has required from facilities to allow for safe holidays amid the coronavirus pandemic.

The strict safety and hygiene measures the government introduced earlier last year will enable the tourism-dependent country to go through at least a better year than 2020 and welcome more tourists, according to the sector representatives.

“We are ready for the season. We will welcome our guests within the framework of the measures we have taken,” says Erkan Yağcı, chairperson of the Mediterranean Touristic Hoteliers’ Association (AKTOB).

“Our expectation is to go above the numbers we achieved last year. We are hopeful,” Yağcı told Anadolu Agency (AA) on Friday.

The industry is said to have completed its preparations for the new season, complying with the Safe Tourism Certification Program, which covers a broad range of safety measures in transport, accommodation and health conditions for tourists and hospitality employees.

locals have continued to trim their hard currency holdings, albeit at a slower pace, according to central bank data.

Their foreign exchange (forex) and precious metals holdings fell to $234.73 billion (TL 1.72 trillion) in the week ending on Feb. 19 from $235.63 billion a week earlier, the data from the Central Bank of the Republic of Turkey (CBRT) showed Thursday.

The hard currency holdings dropped by $893 million. When adjusted with the parity effect, the data showed the holdings fell by only $27 million in the period.

The forex holdings touched a record high of $236.11 billion in January.

The central bank is watching keenly for a reversal in this dollarization trend before it starts rebuilding its forex reserves.

The bank’s new governor, Naci Ağbal, earlier this month said there were signs that Turks were shifting toward Turkish lira assets, suggesting a reversal in dollarization.

He had said the reversal would be an important signal as the CBRT decides when to start rebuilding its own forex reserves.

Ağbal in January stressed the CBRT would patiently rebuild its reserves and has called off a hunt for foreign swap lines that saw it reach out to Washington, London, Tokyo and other capitals last year. He said the bank would instead opt to rebuild the reserves via auctions. Data also showed on Thursday that foreign investors bought $194.5 million worth of Turkish government bonds in the week ending on Feb. 19, and sold $122.8 million worth of stocks.

Separately, data showed the central bank’s gross forex reserves rose by $144 million to $53.86 billion in the same period from $53.72 billion a week earlier.