In the first 9 months of 2023, there was an increase in international travel, primarily from Türkiye's main markets but also globally.
During the 9-month period of 2023, tourism revenues of Türkiye reached a range of 41-42 billion dollars, showing a 20 percent increase. A significant portion of this increase was attributed to rising travel prices, particularly under the financial pressure experienced in the main markets.
According to information from Turizm Databank, in spite of hotel stays and occupancy rates decreased in 2023, increasing of tourism revenues was mainly due to the higher travel costs.
The travel prices from Germany, one of the largest markets, increased by an average of 7-8 percent in 2023, according to the German statistical office. (Inflation in Germany averaged around 4 percent)
On the other hand, travel prices from the Russian market increased by 14 percent in dollar terms. (According to the statistics office, inflation in Russia averaged around 7.5 percent)
In the UK market, travel prices to foreign countries also increased by around 12 percent. (According to the statistics office, inflation averaged around 4.2 percent)
Moreover, travel prices to foreign countries increased by 17 percent in Europe overall, 20 percent in the Middle East and surrounding regions, and 25-30 percent in the Far East. Travel sales to Turks abroad also saw an increase of around 30 percent.
In summary, travel prices increased by an average of 18 percent in all main markets. This implies that the tourism revenue for the first 9 months of 2023 was 41.2 billion dollars solely due to price increases. The actual revenue realized was 41.9 billion dollars.
