Just when you think that things can’t get any better for Turkey – news is released suggesting that tourism income is much higher than originally anticipated.
Article written by The Overseas Guides Company
The Turkish Statistical Institute (TÜİK) have updated the methods that they use to produce tourism statistics and as a result, last year’s tourism revenue which was originally calculated at $23.4billion, was actually considerably higher at $29.3 billion. This is an increase of $5.9 billion, hardly small change!
Thanks to this revision, Turkey’s current account deficit has plummeted by over $5 billion. The net impact of the revision on deficit will be around $1.8 billion.
The institute decided to review tourism statistics and estimations of tourism revenues and tourism expenditures after being inspired by the actions of the World Tourism Organisation (WTO) and the European Statistics Office (Eurostat), which have both updated their systems in recent years.
These statistics only further demonstrate the fact that now is the time to act if you are looking to invest in a growing country. As tourism continues to increase and more flights are scheduled from all corners of the world, we urge you to act to snap up investment property before the world catches on and prices go through the roof.
For details of more property for sale in Turkey, visit the Turkey listings on Rightmove Overseas. One way to save money when buying or living in Turkey is to use a currency specialist when transferring your pounds into lira or euros. For more information on this, contact Smart Currency Exchange or visit the Currency Zone.
To understand the full step-by-step process to buying a property in Turkey, collect The Overseas Guides Company’s ‘Turkey Property Buying Guide’
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