turkish economy to grow 3.5pc as tourism continues to grow impressively

News Posted On: 02 November 2009

02 November 2009 - UK - The Turkish economy will grow 3.5% in 2010 according to the government's latest forecast. The announcement comes just days after it was announced that tourism to Turkey grew strongly in the first nine months of this year, compared to the same period last year.

Thus, the downturn doesn't seem to have made Turkey's target of 33 million visitors per year by 2010 unattainable. However, a new report from tourism experts on the ground does say that a new promotion strategy is necessary if this is to be achieved. According to the new report Turkey's tourism promotion must move away from targeting countries, to become more region, and even more city-specific.

This brings the International Monetary Fund into the bargain though, because many people believe IMF funding will be necessary if Turkey is to be able to spend on such things as improving tourism promotion. Turkey's talks with the IMF have failed to reach a new deal, since the old one expired in May.

At the same time, the fact that Turkish tourism has grown this year, may well strength Prime Minister Erdogan's resolve that IMF funding is not needed. Erdogan will not capitulate to the IMF's demands of tightening fiscal spending unless he thinks it is really necessary, because it may damage his aim of becoming a regional power.

Meanwhile the debate with the IMF continues to affect the Turkish Lira, the longer it drags on the weaker the Lira gets on a long term basis. This is good news for those considering a Turkish property purchase, because the weaker the Lira, the cheaper Turkish property becomes -- the secret being buying when it is weak, because it is very volatile at the moment.

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 Dalaman Airport

The Dalaman Airport is one of the two airports in Muðla where the majority of tourists come through the 12 months of 2005, 1 million 461 thousand 718 of approximately 3 million tourists arrived at the Dalaman Airport. With the new terminal, the annual passenger capacity has increased to 10 million people.

The contract for the international terminal building was awarded in 2003 and 2,100 labourers, 125 architects and engineers worked to get it ready for April 2006. The international terminal of the Dalaman Airport has facilities such as the CIP and VIP halls, baby-care and children’s play-rooms in line with European standards. The terminal building is 95 thousand square meters. The authorities point out that although Antalya has the largest airport by far as tourism potential is concerned; the Dalaman Airport provides services along a coastline which is much longer than that of Antalya. The authorities also gave details of space provided for rent and advertisement in the terminal building and invited tourism operators to a tour of the terminal building during the third week of February, to obtain their views on the matter.

4 February 2006 - 10:58:37

The lowest Inflation in 37 years

The Statistics Agency of Turkey released inflation figures for December. According to released data, the consumer price index posted a monthly increase of 0.42% in December, bringing the annual inflation rate to 7.72%, (The lowest CPI since 1968) down from 9.3% at the end of last year, and excluding energy, tobacco and alcohol CPI rose by a tiny 0.2% monthly in December. On the other hand, the producer price index recorded a monthly drop of 0.04% that lowered the annual inflation reading to just 2.66%, from 15.4% in December last year.

 (03/01/2006)

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