Turkish property & economy news
26 February 2020
Turkey to increase flights to Asian countries Turkish Airlines have announced that they have increased direct flights from the city of Istanbul to the historical Silk Road city of Xi’an. They now fly four times a week to the province in China, which is also the home of the famous Terracotta Army. The first flights began on December 30.23 February 2020
Clock ticking for foreign investors as domestic market teeters on the brink Turkey's domestic real estate market has slowed down in the last couple of years as interest rates remained high. But this is set to change, and when it does, Turkish buyers will be back with a vengeance, sidelining foreign investors. The time to invest in Turkish property is now, says Property Turkey director Cameron Deggin.19 February 2020
Turkey’s Gold production set to break records in 2020 The President of the Turkish Gold Miners Association, Hasan Yucel, announced recently that gold production in Turkey is expected to beat the record set last year by the end of this year. In 2019, gold production peaked at 38 tonnes in Turkey, however Yucel estimates that gold production will be around 45 tonnes by the end of 2020.16 February 2020
Why Canal Istanbul is fast becoming a political hot point Erdogan's ambitious Canal Istanbul project was always a controversial one. Now, there is fresh opposition from Istanbul's newly elected mayor, Ekrem Imamoglu. The mayor has vowed to oppose the project any way he can, saying that the costly project will not have the benefits Turkey's president claim it will.11 February 2020
Turkish Airlines to carry 80 Million passengers this year Turkish Airlines (THY) confirmed their target for this year is to carry 78-80 million passengers, mainly on international routes across the globe, saying in a statement: “The target is to reach 78 million to 80 million total passengers carried, including 31.5 million to 33 million on domestic routes and 46 million to 47 million on international routes.”11 February 2020
Tourism investment on track to achieve 2023 Goals Turkey aims to continue diversifying the best known and traditional tourist locations in the country, including Istanbul, Izmir and Antalya so that they can play host to even more tourists this year.10 February 2020
Turkish house sales in 2019 top 1.35 million According to the statistical authority in Turkey, house sales reached almost 1.35 million in 2019. Foreign buyers were responsible for 45,500 house sales equating to an increase of 14.7% when compared to the year before. Almost 512,000 of the houses were sold for the first time with the remainder from January to December being second-hand sales.09 February 2020
Turkey 'not far' from 75 million tourist goal Turkey's ambitious goal to attract 75 million annual visitors by 2023 looks to be on track. As the country continues to develop its tourism industry, diversifying into health, cruise and thermal tourism and marketing itself to new countries, its tourism industry is more robust than ever, with 51.8m people visiting Turkey in 2019.28 January 2020
Cappadocia breaks tourism records in 2019 According to official data, Cappadocia played host to 3.7 million tourists between January and November last year. Due to the visitor numbers, the region exceeded the 3 million tourist figure for visitor numbers for the first time ever.24 January 2020
Foreign visitors to Turkey see double-digit growth Turkey finished 2019 on a high note as the country registered a double-digit growth of foreign tourists. The Culture and Tourism Ministry confirmed that international visitors to Turkey grew last year by 14.31% to 42.9 million from January to November.24 January 2020
2020 Turkish tourism to target Solo Travellers and Eastern Markets With the aim of gaining higher revenues, tourism operators are to turn their attention to attract greater tourist numbers from India, East Asia and China along with winning over the new generation of solo travellers.22 January 2020
Turkish Airlines to open new routes this year The Chairman of Turkey’s flag carrier confirmed that this year Turkish Airlines are updating and expanding their fleet, plus opening new routes. Ayci went on to say: “We have completed all the necessary procedures to launch flights to Malabo, Equatorial Guinea, Tokyo’s Haneda airport, Newark, New Jersey, and Vancouver, Canada in 2019.”
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