Aug 12 2018

Weakening lira increases investments in tourism -Turkish Tourism Minister

The rapid decline in the value of the Turkish lira against the dollar has been creating incentives for higher investments in the tourism sector, Turkey’s Minister of Culture and Tourism Mehmet Nuri Ersoy said on Saturday, Cumhruyet newspaper reported.

Ersoy told reporters that Turkey has been reaching its targets in tourism this year, while answering the questions of the reporters during a festival in the western town of Bodrum.

“I wish the exchange rates have not increased that much. Stability is important for the economy. But, from the perspective of tourism, higher exchange rates increase the appeal of investments in the sector,” he said. 

Turkey targets to increase the share of tourism revenues in GDP to 8 percent from 4 percent and to boost quality in tourism rather than quantity, the newly appointed minister added. 

Ersoy is one of the names President Recep Tayyip Erdoğan transferred from the private sector for his new cabinet, which he plans to run “like a CEO.” Ersoy was the chairman of the ETS tour, one of the leading tourism companies in Turkey founded in 1991 to offer alternative travel packages for international and domestic travellers.