Drop of Turkish lira could benefit tourism - expert

The plummeting of the Turkish lira could help Turkey's tourism, Travel Daily News website said on Wednesday, citing travel and tourism analyst John Vandesquille.

Turkey is seeking to revive its vital $35 billion tourism industry, which has been hit hard by the coronavirus pandemic.

“The continuous drop of the Turkish currency on exchange markets could actually help tourism in the region despite the uncertain times brought by the COVID-19 pandemic," Vandesquille said.

The Turkish lira lost nearly 18 percent of its value last week.

“A weak currency was already the reason tourism in Turkey experienced such a boost in the past few years, despite the negative impact of the multiple high-profile terrorist attacks between 2015 and 2017 on the country’s image," he said.

“Besides giving an impression of relative safety compared to its competitors, the favourable exchange rate is likely to attract foreign tourists, and, more particularly, British ones - who represented 2.44 million visitors in Turkey in 2019 and who are currently not allowed to visit some of their usual destinations such as Spain," he said.

 

https://www.traveldailynews.com/post/catastrophic-fall-of-lira-could-be-blessing-in-disguise-for-turkish-tourism-says-globaldata