A new report by Merrill Lynch (MER) Global Research predicts 3.2 percent economic growth rate in Turkey for 2010, despite the general slowdown in the world economy.

Merrill Lynch forecasts global growth of 1.3 percent in 2009, down from 3.2 percent in 2008, rising to 3.1 percent in 2010. Turkey will make a quicker recovery than other countries of the region thanks to comparatively minimal damage in the banking sector, and it expects lower interest rates and higher government spending to stimulate domestic demand. The analysis expected a 6.3 percent inflation rate in Turkey in 2009. Turkey will emerge as one of the few safe havens for investment following the end of the crisis and entrepreneurs who invest in Turkey will not lose out, but will instead make considerable profit.

Meanwhile, Mehmet Şimşek, Turkish state minister for the Treasury told a New York meeting of a U.S.-based Turkish-American business association that his country's economy would begin recovery by 2010. Simsek added that a permanent recovery of the global economy would also require Institutions such as the IMF, the World Bank and other regional banks should do more to support countries like Turkey because these countries have been the locomotive of the global economic growth over the last years.

According to Finans Invest, the more good news for Turkish investors is the stocks closed their best month since 2003, while they may rally further after the benchmark index crossed the 200-day moving average for the first time in almost a year and a half. The benchmark index jumped after Tevfik Bilgin, head of the Banking Regulation and Supervision Agency, said profits at banks will increase and their balance sheets passed a stress test.

Labels: Economy, Turkish-property

Turkey is gaining ground as a favorite holiday destination for Brits as the Euro is hitting the pound and British tourists spending power.

According to Co-op Travel, Turkey represents far greater value than Spain with superior value for money and a far higher standard of customer service. Turkey has attracted over a third more holiday makers this year compared to last year and has seen spectacular growth, according to ABTA. These figures echo tourism statistics from the Turkish Ministry of Culture and Tourism which reported a 15 percent increase in tourist arrivals.

Trevor Davis, The Cooperative Travel Group's director of retail travel said packaged holiday sales for Turkey have increased by 30 percent. Mr. Davis also said sales to Majorca, Spain's top-selling holiday destination, have dropped by 13 percent. Ian Hailes, head of product and development for Cosmos, said packaged summer holiday sales for destinations in Turkey were up by a quarter while Spanish destinations were decreased by 6%.

For those tourists who have felt the pinch of a struggling economy, a Turkish vacation could prove to be more affordable for the 2009 vacation season. Turkey's history is steeped in various cultures, its ancient ruins, mountainous regions and forested areas make Turkey a great vacation destination for anyone of any age. The wonderful mix of cultures, cuisine and night life make it a wonderful place for young people, while the excursions and packaged tours of ancient sites available also make it a great vacation spot for history buffs.

Turkey makes two appearances on the top 10 list for European tourists for 2009. Dalaman tops the list as the number one packaged vacation spot. Following closely behind is Majorca, one of Spain's Balearic Islands. The third destination is the Greek island of Crete. Bodrum makes the list as the number four vacation destination for Europeans. The Turkish government has said it will get involved in an advertising campaign to boost tourism. There were 23 million visitors to Turkey in 2008 and authorities had predicted that would increase to 30 million in 2009.

This rise in tourist numbers also spells good news for the holiday home market. In western Turkey where a lot of towns rely on tourism for income, thousands of holiday homes are on the market. According to the Real Estate Counselors Federation, in Mugla's Fethiye district around 6,500 are owned by British people alone. Holiday home sales have soared over the past 3 years and Holiday homes prices have risen by 50 % in 2 years, but there is an overload of properties on the market, there is still a bargain to be had in Turkey.

Labels: Holiday-property, Tourism

The Didim Marina project which is due for completion in May 2009 is expected to increase the number of tourists to the area and be a major factor in driving real estate prices upwards.

According to Voices, the local English language newspaper, the yacht owners are being offered a discount of 15 per cent on initial berthing fees and those taking out annual contracts will have an additional three months free. The marina stretches over 287,000 sq. m and will have 580 berths at sea and a dry dock capacity for 600 yachts.

Construction supervisor Kemal Atabak said that by completion there would also be a boutique hotel with 80 rooms, businesses on 20 different sectors, health clinic, a heliport, shopping centre, supermarket, yacht equipment shops as well as a ferry boat operator and customs and port authority facilities. In addition there would also be cafe's, bar, resting/overnight stay accommodation, swimming pool, sauna, massage, tennis courts and basketball field.

Mayor Mumin Kamaci predicted a 100 per cent rise in tourist to Didim when the marina is completed, particularly attracting excursion yachts. Mr. Yaprak, the marina manager commented: "The marina will attract yacht owners from the Middle East and across Europe. But importantly, it will be catering for the mega-yacht owners, the super-rich who have yachts that cannot berth at the likes of Turgutries, near Bodrum."

This comes after the news that EU made a Euro 340,000 (£270,000) grant for the Meandros Village project, which aims to highlight the historical and cultural assets of Didim.

Labels: Didim, Tourism

Turkey is one of the best places in the world to invest in a property after the news that Turkey is very close to hitting its tourism target of 25 million visitors in this year, as Holiday-makers are thinking beyond traditional seven- or 14-night breaks in order to save money on overseas trips.

According to Artemis travel Turkey, Around a third (35%) of Artemis Travel customers are staying anywhere between three and 17 nights at its Aegean coast resorts in Turkey, allowing them to shop around for the best flight prices.

Kerim Cavusoglu, president of the Turkish Association of Travel Agents (TURSAB) is confident that this year's winter will bring more opportunities to the Turkish tourism industry than the previous years, local newspaper today’s Zaman reports.

He commented: "Turkey had the potential to turn the adverse effects of the crisis to its own benefit," saying the country is advantageous in many areas compared to its rivals, most importantly that foreign tourists can find services with cheaper prices here and that’s the reason visitors tend to stay longer in Turkey.

According to the Daily Telegraph reports, Turkey is offering a cheaper alternative to the eurozone when it comes to holiday property for rent. As the pound is weak against the euro and budgets are stretched, the country provides a good alternative destination. The cost of living in Turkey is 50% cheaper compared to other countries in Mediterranean region, including the Northern Cyprus.

More than 31 million people visited Turkey in 2008, which could be welcome news for those considering purchasing overseas property in the country. Its popularity as a popular tourist destination could mean that there is a strong rental market for buy-to-let investors.

Labels: Investment-property, Tourism

The demand for quality rental accommodation in Turkey is increasing proportionately with the huge influx of Holidaymakers, it has been stated.

Nigel Harris, Chief executive at Artemis Travel said that the country used to be looked at as a cheap destination offering a cheaper alternative to the eurozone when it comes to holiday property for rent, but commented that this has now changed.

He commented: "Customers this year are looking for a combination of quality accommodation, flexibility on flights and duration and value for money."

Courtney Wylie of tourist property rental firm Holiday Rentals told the Daily Telegraph: "In high season, tourists can get a fantastic 2- bedroom villa with private pool near Fethiye or in Dalyan for around £600 per week." With the expected arrival of further low-cost flights to Turkey this year, the demand is expected to increase further as the flight and property rental option becomes more and more competitive next to the package holiday.

Turkey's tourist market was emerging long before its holiday home market, with in excess of 20 million tourists a year visiting the country. This is a key indicator for investment with a view to holiday rentals as it is backed up by booming tourism. For some time now, the Turkish rental market shows all the right indicators and now the facts are starting to speak for themselves as it provides investors with an opportunity to own a home that is rising in capital by around 15% per year in addition to offering superb rental opportunities.

In related news, recent survey from leading holiday rental site holidaylettings.co.uk shows Turkey is 7th out of 112 countries for demand for holiday homes.

Labels: Holiday-property, Rentals

Turkey is sure to make a large impact in the global medical tourism market in the very near future. Straddling both Europe and the Near East, Turkey has much to offer in terms of health tourism treatment, with state of the art medical facilities and a wealth of tourist interests as well.
Dawn Elisabeth Simpson, British TV producer lives in Yorkshire, chose Antalya for aesthetic surgery upon receiving advice from a friend. Praising Turkish doctors, Simpson said she was very satisfied with the result of the surgery. Simpson has 2 children. Her doctor, Seçkin Oksar, said "Simpson got in touch with us seven months ago. We examined her and did three different operations on the areas of her belly, breast and back. The operations were successful. Simpson is happy with the results."

Oksar commented "Women mostly from England, Belgium and northern European countries are coming to Antalya for plastic surgery. I can say that we, as Antalya, are one of a few good places in Europe in terms of plastic surgery."

The cost of medical care in Turkey is competitive with the rates of Europe and Southeast Asia, which is a fraction of the cost of similar treatment in the US. It's a popular choice for those needing dental or cosmetic surgery, and procedures can be arranged to be done immediately, saving the frustration of a long wait.

Turkey is becoming popular destination for medical tourism especially among the European tourists. In 2008, the country received around 200,000 foreign medical tourists, an impressive 40% increase from 2007. Turkey's health tourism income may reach USD 10 billion within the next three to five years. Currently, Turkey's health market has a volume of USD 500 million. The increasing tourism means that for investors looking for a low cost, low risk entry into property investing, Turkey makes a fantastic choice.

Turkey is also a great place for vacation opportunity after medical treatment with great Package deals with massages, spa treatments and visits to the famous Turkish baths for post-op relaxation. Dr. Resat Bahat, Chairman of the Association of Private Hospitals and Health Organizations commented "The hospitals provide foreign patients an opportunity to tour the city where they are receiving treatment. They get treated, rest and have fun, all as part of the package deal. That is what they find attractive".

Labels: Antalya, Tourism

The hottest ticket this summer is a holiday in Turkey and it's no surprise why thousands of Brits are expected to visit this non-euro destination in 2009, according to a travel operator.

Thomas Cook, Europe's second largest travel operator has stated that Turkey is the ideal family holiday location and the key appeals of a Turkish holiday this year is affordability. The country is not part of the euro zone and Turkish accommodation remains affordable as the cost of living is low. There are several discounted package holidays now available particularly for those willing to book at the last minute.

Recent figures from the Ministry of Culture and Tourism revealed that Tourist arrivals have risen steadily over the past few years. Turkey's tourist industry is breaking records year-on-year leaping from 9.75 million visitors in 1998 to 30.9 million a decade later in 2008. Undersecretary of the Tourism Ministry has stated that a further 20% increase in the number of British tourists is anticipated in 2009.

Investment in buy-to-let purchases has received a welcome boost from Turkey’s tourist statistics. The Turkish market is also showing promising signs for the resale market. Some 73,000 foreign nationals (mainly Britons, Germans and Greeks) own properties in the country predominantly along the Mediterranean and Aegean coastlines and interest in owning bricks and mortar be it for retirement, a holiday home or buy to let investment continues to be strong.

James González, Market Analyst at Obelisk comments "Although Turkey's still very much an emerging market; the signs are that it's set to become more established during 2009 and Turkey certainly offers some excellent investment opportunities".

Labels: Investment-property, Travel

Among the winter sun destinations, Easyjet began operating a thrice-weekly service between London Gatwick and Dalaman, a town located on the south-west coast of Turkey. The airlines estimate that more than 60,000 passengers will visit Dalaman this year, and so popular is the route expected to be that it has already been announced that the flight frequency between these two destinations will increase to five times a week as of 1st May.

Easyjet said in a statement that GB Airways will continue to operate all routes under the British Airways brand until 29 March and As many as 21 new destinations are available from low-cost airline Easyjet thanks to the company's takeover of GB Airways. The current credit crisis has not stopped Brits booking their annual summer holidays for 2009 however due to the British pound dropping in value against the Euro; they are looking for Non-Euro alternatives like Turkey, where they get more value for their money.

Furthermore, according to the World Tourism Organization, Turkey has one of the best performing, not to mention lucrative, tourism industries in the world, with over 27 million tourists from all around the world expected to visit the country this year.

Property experts believe that this new flight route will serve to further increase the numbers of property buyers and tourists heading to Turkey. Dominic Whiting, editor of the Buying in Turkey guide has said that the long-anticipated arrival of no-thrills flights to the Turkish coast is big news. He commented "Improving access from the UK should have a very positive effect on tourism and the property market in Dalaman and other nearby resorts in Turkey - with a recent Europe-wide study by Savills finding an average price premium of 37% for property in an area served by a budget airline."

Dalaman's beautiful countryside, cotton fields, fragrant orange groves, and some fascinating ancient sites make it a popular tourist destination. As the area develops with holiday villages in Sarıgerme and the new golf courses in the near vicinity Dalaman is set to become the destination of choice for many tourists with plans to turn this area into a golfers paradise. Dalaman town is growing quickly as a result of the investment in the area -the real estate market has increased the number of properties available for sale/rent.

In related news, Edinburgh airport has already had extra flights to Turkey scheduled by certain travel companies and other airports are expected to announce the same.

Labels: Dalaman, Property-buyers, Travel