Global credit crunch beneficial for investors in turkey
Tuesday, April 22, 2008
The ongoing global credit crunch could prove to be advantageous to owners of rental accommodation in Turkey. Official figures from post offices states that there has been 15 per cent increase in sales for Turkish currency among Brits. This is due to the reason that the pound has hit a record low against the euro and has fallen drastically in value over the last couple of months. Experts have said that People are likely to visit countries which are not part of the single European currency.
The fall in the value of the pound against the euro will mainly have an impact on holidaymakers. Travel weekly has reported that UK vacationers are preparing to make their annual trips abroad despite the fears about the people's finances being constrained by the slowdown in the worldwide economy. Countries along the Mediterranean coast like turkey are found to be most popular locations with more bookings. Turkey statistical institute has reported that 23.5 million tourists visited Turkey last year and is expected to increase to 27 million in 2008.The tourist trade was up a massive 43.9% in the last 3 months in 2007 when compared with the same period in 2006.
Murat Dedeman, the head of The Turkish Tourism Investors Association (TYD) also predicts the increase in the number of foreign tourists visiting Turkey in 2008, resulting in profits of up to $21 billion. Dedeman's optimism is supported by the Turkish Travel Agencies' Association (TURSAB), which expects a 15 percent rise in tourist numbers this year to 27 million.
The dynamic infrastructural and economic transformation process that the Turkey has been experiencing in the last decade has a powerful impact on Turkish tourism and strengthened Turkey's place in the world.
This comes after the predictions from Cushman & Wakefield, global property agents and they say that real estate in emerging markets like turkey will evade the current slowdown relatively unharmed and Goldman Sachs investment bank has said turkey is having promising outlooks for investment and future growth.
Social BookmarkingThe fall in the value of the pound against the euro will mainly have an impact on holidaymakers. Travel weekly has reported that UK vacationers are preparing to make their annual trips abroad despite the fears about the people's finances being constrained by the slowdown in the worldwide economy. Countries along the Mediterranean coast like turkey are found to be most popular locations with more bookings. Turkey statistical institute has reported that 23.5 million tourists visited Turkey last year and is expected to increase to 27 million in 2008.The tourist trade was up a massive 43.9% in the last 3 months in 2007 when compared with the same period in 2006.
Murat Dedeman, the head of The Turkish Tourism Investors Association (TYD) also predicts the increase in the number of foreign tourists visiting Turkey in 2008, resulting in profits of up to $21 billion. Dedeman's optimism is supported by the Turkish Travel Agencies' Association (TURSAB), which expects a 15 percent rise in tourist numbers this year to 27 million.
The dynamic infrastructural and economic transformation process that the Turkey has been experiencing in the last decade has a powerful impact on Turkish tourism and strengthened Turkey's place in the world.
This comes after the predictions from Cushman & Wakefield, global property agents and they say that real estate in emerging markets like turkey will evade the current slowdown relatively unharmed and Goldman Sachs investment bank has said turkey is having promising outlooks for investment and future growth.
Labels: Market-Trends, Rentals
