Turkey's Tourism Sector Poised for Growth as Interest Rates Decline

(MENAFN) Turkey’s tourism investments are set to accelerate this year as interest rates begin to decrease, according to Oya Narin, president of the Turkish Tourism Investors’ Association (TTYD), in an interview with Anadolu. Speaking at the 27th East Mediterranean International Tourism and Travel Exhibition (EMITT) in Istanbul, Narin shared that 2024 had been a successful year for the country’s tourism industry.

She highlighted that although Türkiye didn’t host a major global event like the Paris Olympics, the country still performed well, ranking fifth in terms of tourist visits and seventh in tourism revenues. “The world tourism evolves to where big championships, like the Paris Olympics, are held,” she noted.

Narin acknowledged the country's positive trend in tourist arrivals but emphasized the need to focus on strategies to boost revenue. She mentioned that the association is working on plans to help reduce Türkiye's current account deficit. Narin also pointed out that while high inflation and interest rates have made investment less attractive, a decline in these rates is expected to stimulate investments after 2025 and 2026.

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