Turkey Hotel Market, Forecast by 2026

According to the latest report by Renub Research, titled “Turkey Hotel Market & Volume, Budget & Star Rated Hotel ( 1st, 2nd, 3rd, 4th, 5th) Star, City, Province, Chain Hotel (International, Domestic), Company (Hilton, Marriott, Radisson, Accor) & Forecast” Turkey has become a hotspot for tourist looking for leisure activities. Turkey is a combination of natural beauty, along with historical and cultural sites. Turkey has been ranked as the 6th most visited country in the year 2019. The city like Istanbul, which is the cultural and historical capital of Turkey, attracts a huge number of tourist along with Antalya. The number of tourists in Turkey has grown significantly in recent years for other cities in Turkey like Mugla, Izmir, Aydin, Ankara, Mersin, Busra, Afyonkarahisar and Balikesir. This growth is also propelling Turkey Hotel Market due to the availability of a high number of hotels at affordable prices. According to Renub Research analysis, Turkey Hotel Market is forecasted to be US$ 11.6 Billion by the end of the year 2026.

The initiative of Turkey government to boost tourism through various programs such as the Health Transformation Program started in the year 2003 are boosting Turkey healthcare sector, which results in higher hotel occupancy. Ministry of Tourism has also launched new regulation and strategies to increase revenue from tourism by increasing the number of visitors. Foreign visitors in Turkey have grown significantly from countries like Russia, the United Kingdom, Germany, Iran and Bulgaria.

Impact of COVID-19 on Turkey Hotel Market

COVID-19 pandemic has disturbed most the hospitality industries in the world. Out of these Hotel and Tourism industry are on the verge of breakdown in the year 2020. Hotel market in Turkey has seen sharp decline in the year 2020, but we expect from the year 2021 the market will grow as domestic and foreign tourist will again start coming to hotels as they do in past years.

About Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Contact Us:
Renub Research
Phone No: +1 678-302-0700 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s