Türkiye presents significant investment opportunities in the tourism industry, with its favorable location, existing potential, and mega projects. The country’s tourism sector continues to grow at a rate that outstrips its bed capacity, despite the surge of investments in the last several years. Eastern and Southeastern Anatolia are particularly promising regions for cultural tourism and the boutique hotel concept, given their unique nature, history, and culture.
In 2022, Türkiye was the 3rd most popular tourist destination in the world, with 51.4 million international tourist arrivals, up 75% year-on-year, with the average spending per visitor at USD 950. Türkiye boasts a significant number of tourist accommodation establishments with over 833,000 rooms, and its occupancy rates have been recovering strongly since the pandemic.
Türkiye is a unique destination that caters to various types of tourism, including religious tourism, beach tourism, geothermal tourism, and golf tourism. With its 8,300 km of coastline and 529 blue-flag beaches, Türkiye ranks 3rd globally in terms of beaches. It also has over 1,500 thermal springs, making it one of the top seven countries in the world and the first in Europe for geothermal tourism. In addition, the Belek region stands out as the most significant golf destination in Türkiye, attracting millions of tourists annually.
Türkiye also ranks 7th among the top 10 European countries for tourism FDI between 2016 and 2020, with 36 FDI projects, according to fDi Intelligence’s Tourism Investment Report 2021. The Turkish government offers various incentives, such as reduced utility prices and tax rates, and has been implementing policies to eliminate bureaucratic barriers that may hinder growth in the tourism sector. Overall, Türkiye presents a promising investment destination for the tourism industry, where foreign businesses can explore various opportunities, including:
Accommodation: With the increasing number of tourists, there is a growing demand for quality accommodations in Turkey. Foreign businesses can invest in developing hotels, resorts, and other types of accommodation to meet this demand.
Tour operators: Turkey has a diverse range of attractions, and many tourists prefer to explore the country with the help of local tour operators. Foreign businesses can invest in this sector by providing high-quality tour services that cater to different types of tourists.
Transportation: With the growing number of visitors, there is a need for reliable transportation services to move tourists around the country. Foreign businesses can invest in developing transportation services, including car rental services, shuttle services, and public transportation systems.
Food and beverage: Turkey is known for its delicious cuisine, and many tourists enjoy trying out different local dishes. Foreign businesses can invest in the food and beverage sector by developing restaurants, cafes, and other food-related businesses.
Souvenirs and retail: Tourists often purchase souvenirs and other local products during their visits. Foreign businesses can invest in this sector by developing retail outlets, souvenir shops, and other businesses that sell local products.
If you’re interested in investing in Turkey’s tourism sector, it’s important to seek guidance from experienced business consultants, local lawyers, and accountants who can help you understand the regulations related to land purchase or lease, taxation, employment, health and safety, and provide you with 360-degree guidance and support throughout the investment process. With our expertise, you can ensure that your investment is in compliance with local laws and regulations, and that you have the necessary resources to navigate any challenges that may arise in this exciting sector.