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T U R K E Y Tourısm Markets

2010

Research Report The basic economic indicators of a country are also associated with the other sectors in that country. The basic data that we, İstanbul Gayrimenkul Değerleme, have provided below with regard to the Turkish economy are directly related to the tourism potential in the country and the offer-demand balance of the hotels. Table contains a summary of these data. Basic Economic Indicators 2002

2003

2004

2005

2006

2007

Real GDP Growth Consumer Prices Inflation (avg.%) Budget Balance (% of GDP) Current Accounts Balance (% of GDP) Short Term Interest Rate (avg.%)

6,2

5,3

9,4

8,4

6,9

4,7

45,1

25,3

8,6

8,2

9,6

8,8

-11,5

-8,8

-5,2

-1,1

-0,6

-1,6

-0,3

-2,5

-3,7

-4,6

-6

-5,8

72

48

21,5

23

27

25

TL/$ Average Exchange Rate

1,506

1,493

1,422

1,341

1,431

1,302

$/€ Average Exchange Rate

1,06

0,89

0,80

0,80

0,80

0,73

Source:IMF, 2010

According to IMF data, Turkey became the 16th greatest economy of the world in 2010. The GDP of 2010 is $736 billion. The tourism revenues of Turkey between 2006 and 2009 are provided in Table 3. In 2008, the number of tourists arriving in Turkey was calculated over 26 million and the tourism revenues increased by 18% when compared to the previous year and were calculated about $22 billion with a share of 3% in GDP. In 2009, the number of tourists exceeded 27 million; the share of tourism revenues in GDP rose up to 3,5% and $21, 5 billion was gained from tourism revenues. Tourism Revenue of 2010 is $20,8 billion. Gross Domestic Product

Source: TURSTAT, 2010

Tourism Revenues

Source: TTIA, 2010

Invariable Top 3: Antalya, Istanbul, Muğla No changes were observed in 2010 in the top 3 cities in the Hotel Market in Turkey. Antalya, İstanbul and Muğla have been the most preferred cities by foreign tourists visiting Turkey. According to the unofficial figures of the Ministry of Culture and Tourism, approximately 28.700.000 foreign 2008 2009 tourists arrived in Turkey in 2010. 0,8 -6,5 In the listing of the cities that 10,4 6,2 have the border gates whereby -1,8 -5,5 most foreign tourists entered the country, Antalya is the first with -5,7 -1,9 33% (9,2 million foreign tourists) 25 15 and İstanbul is the second with 1,293 1,547 24% (7 million foreign tourists). 0,68 0,72 Muğla ranks third with 11% (3 million foreign tourists). According to the results of the survey conducted by İstanbul Gayrimenkul Değerleme, the average overnight accomodation prices per person and average sales value per room of 5 Star hotels in these cities are as shown in the graphics. According to this, the highest figure in average overnight stay price per person in 5-star hotels belongs to Muğla with €180. In Muğla, this price is the highest in Bodrum district with €230 and the lowest in Fethiye district with €110. İstanbul holds the second place with €130. The highest overnight accomodation price in 5-star hotels in İstanbul is €180 in the Beyoğlu, Beşiktaş and Şişli districts, whereas the lowest price is €100 in the districts of Küçükçekmece, Büyükçekmece and Silivri.

The highest price in the average sales per room for 5-star hotels is in İstanbul with €320.000. Antalya and Muğla have the same price in average sales value per Room in 5-star hotels with €100.000. Among the most preferred places to stay in districts of Antalya, the highest price is in Serik with €130.000 and the lowest price is in Alanya with €80.000. In Muğla, the lowest price is in the Bodrum district with €85.000 and the highest price is in the Marmaris district with €115.000. Average Overnight Accomodation Price PP-5 Star Hotel

Source: IGD, 2010

Average Sales Value per Room-5 Star Hotels

More than 800 accommodation establishments are at the stage of investment. Out of these investments, 70 will be made in Central Anatolia, 58 will be made in the Black Sea Region and 48 will be made in the Eastern and South-Eastern Anatolian Regions. According to the figures indicated in the Communiqué on the List of Investment Incentive Certificates published in the Official Journal by the Undersecretariat of Treasury untill November in 2010, 57 out of the 185 investment incentives belong to the regions of the Marmara, the Mediterranean and the Aegean. In particular, according to the Communiqué on Investment Incentive Certificates published in November, the Central, Eastern and South-Eastern Anatolian Regions are the regions which have received the greatest amount of investments in recent years. In terms of the tourism investment incentive data published untill November in 2010, 128 out of 185 of these incentives belong to these regions. Accordingly, it can be seen that the Hotel Market, which has for years been dominated by Antalya, İstanbul and Muğla, is slowly moving in the direction of Anatolia.

Rising Star: “Aydın”

Source: IGD, 2010

“Anatolia”: New Destination of the Hotel Market According to the latest information received from the Ministry of Culture and Tourism, the number of Accommodation Establishments is about 2.900.

Aydın immediately follows Ankara in sale values per room of 5-star hotels. The number of tourists arriving in Didim and Kuşadası increases day-by-day and thus there is an intense demand for facility investments in the region. The sale price range in 2-star hotels with 20-50 rooms is between €500.000 and €1.800.000 and it varies between €2.000.000 and €8.000.000 in 3-star hotels with 40-80 rooms. It was observed that the sale price margin in Aydın for 4- and 5-star hotels, which are the most preferred for stays in the region, is between €10.000.000 and €35.000.000, and the prices vary depending on the number of rooms and the features of hotels.

IGD


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TURKEY Tourısm Markets Research Report