Türkiye's Travel & Tourism Sector Hits Record Highs, Expected To Soar Further In 2024

WTTC Report Forecasts Continued Growth, with GDP Contribution Set to Surge to 12.5% of National Economy

The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) underscores Türkiye's Travel & Tourism sector's unprecedented achievements in the past year, setting new benchmarks across crucial indicators.

In 2023, the sector injected TRY 3.11TN into the economy, constituting 12% of the total GDP. This surge reflects a remarkable nearly 30% increase from the previous peak in 2019. Moreover, the sector facilitated over 3.2 million jobs, accounting for one in every ten employments nationwide, marking an impressive 18% surge from the high point recorded in 2019.

Both international and domestic visitor spending soared to surpass their previous records, with global expenditure reaching TRY 1.68TN and domestic spending hitting TRY 761.3BN. International visitor spending surged by almost 36% compared to its 2019 record, while domestic visitor spending witnessed a remarkable nearly 24% increase from its previous peak in 2018.

The sector's trajectory indicates continued momentum in 2024, with GDP contribution anticipated to ascend to nearly 12.5% of the country's economy.

The workforce supported by Travel & Tourism is projected to exceed 3.3 million, and spending from both international and domestic visitors is forecasted to scale new heights.

According to WTTC's latest projections, spending from international visitors could surpass TRY 1.7TN next year, while domestic visitor spending could approach nearly TRY 799BN.

To sustain and enhance the growth of its pivotal Travel & Tourism sector, the Turkish Government is contemplating the introduction of nomad visas, aiming to extend potential stays and augment visitor spending.

Julia Simpson, President & CEO of WTTC, remarked, "As the world's fifth most popular destination, Travel & Tourism in Türkiye serves as a linchpin of the nation's economy, propelling growth, investment, and employment."

"We commend the national government's commitment to prioritising Travel & Tourism, recognising its indispensable role in Türkiye's economic landscape," added Simpson.

The outlook for the forthcoming decade anticipates a period of sustained growth. By 2034, the sector is poised to contribute over TRY 4TN annually to the economy, with employment projected to approach nearly 3.75 million.

The ensuing decade heralds a transformative phase of substantial growth and advancement for Türkiye's Travel & Tourism sector.

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