Turkey Tourism Report Q4 2014

Oct 21, 2014 - Business Monitor International - 54 pages - USD $1,295
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BMI expects healthy growth in Turkey's tourism industry, as we forecast positive developments across all of the country's key indicators for tourism between 2014 and 2018. Some domestic and regional risks remain around security issues, but our confidence in the future of the market is reinforced by a swathe of new hotel developments across the country.

We expect to see a boost to arrival numbers of about 5mn between 2014 and 2018, taking the number of journeys to Turkey in 2018 to 39.3mn. This will be due to economic growth and increased consumer spending across most of Turkey's key source markets for arrivals, as well as continued investment in tourism and transport infrastructure in the country and the prospect of the effective marketing of Turkey's many tourism assets. Arrivals may also be boosted by travellers avoiding other unstable destinations in the Middle East and North Africa due to security concerns, as well as high-spending Russian tourists avoiding EU destinations in the wake of sanctions between the EU and Russian Federation. A diverse group of source markets means that this growth is likely to be resilient to regional downward pressure on arrivals as Turkey begins to increase its proportion of arrivals from the Middle East.

Outbound travel, too, is set for increases in numbers and will grow faster than inbound travel, though it will still be a much smaller number in 2018, at an estimated 8.9mn. This, combined with the growth in arrivals, will lead to a boost in hotel numbers (we expect to see 600 new hotels open in Turkey over the next four years), industry value and takings from tourism-related receipts.

Several of the world's leading hotel chains are opening dozens of new hotels across the country in light of these positive indicators for growth. Work is also under way to significantly boost Turkey's air travel infrastructure, which delivers the majority of arrivals to the country, through the construction of a new six-runway airport servicing...

The Turkey Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Turkey Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Turkish tourism industry.

Key Benefits
  • Benchmark BMI's independent tourism industry forecasts for Turkey to test other views - a key input for successful budgetary and planning in the Turkish tourism market.
  • Target business opportunities and risks in the Turkish tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage

BMI Industry View

This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.

BMI Industry Forecast Scenario

Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (‘000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (‘000), growth (% y-o-y), departures by regional destination (‘000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (‘000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (‘000), (growth % y-o-y), total overnight stays, (‘000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (‘000), (growth % y-o-y).

Industry Risk Reward Rankings

BMI’s Tourism Industry Risk Reward Rankings provide a country-comparative Risk Reward Rankings index aimed at investors (tour operators, tourism infrastructure investors, financial institutions) in the regional tourism market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

We also have Security Risk Reward Rankings which provide a detailed assessment of possible threats to the country (and by extenuation to the tourism industry), ranging from economic and political upheaval, to terrorist attacks and organised crime levels.

Market Overview

This contains a comprehensive overview of the tourism industry in the country, its overall value, the value of its hotels industry, trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country, which brands are present in which cities, the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country, in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database, which contain details of projects, their value, the time frame, their current status, the companies involved and their estimated completion dates.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape.

The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


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About the Publisher
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.