Turkey’s tourism property market boosted by growing tourism
05 February 2010
Growth in the Turkish tourism sector has helped boost the tourism property market, Anatolia news agency reports quoting Huseyin Baraner, chairman of the Turkish Tourism Business Council, as saying.
The Turkish tourism sector has grown at an extraordinary speed, said Baraner. Ten years ago, only eight million tourists were visiting the country a year, he said, adding that that figure has reached 27 million. The increase in the number of tourists has also revived the tourism property market.
Turkey’s tourism property market has gained a lot of momentum, according to Baraner. That is partially due to the fact that there are more people who want to purchase hotels than those who want to sell, he said. Also, investors are keeping a close eye on hotels that are located in some key regions, according to Baraner.
After the crisis, Turkey has become one of the countries that grabbed the most interest with their tourism industries and tourism investors, operators and agencies have split into two groups, said Baraner. One group continues to invest in small hotels and turn them into luxury ones. The other group has given up on the industry completely, he added.
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