Category: Reports

BY FIKRI CINOKUR Turkey, which broke its all-time tourist records in 2019 with 45 million tourists and USD 34.5bn in foreign currency inflows, experienced a 69.14% decrease in the number of tourists and a 65.1% decrease in tourism income in 2020 due to the pandemic. 2020 tourism income stood at USD 12.6bn. Turkey opened to...

BY SELENAY YAGCI Cruise tourism is getting ready to leave the effects of the pandemic behind with the spread of vaccination all over the world. This year, 21 cruise ships docked at Turkish ports in the first 8 months, and 17 thousand passengers arrived. Although there is a 92.75 percent decrease compared to the same...

By DIDEM ERYAR UNLU TO HAVE A SUSTAINABLE impact on one’s business requires a multi-disciplinary perspective, especially in a digital world where cross-cultural boundaries are nonexistent. Burcu Acarturk Yildiz, the founding partner of KYB Law Firm, is a lawyer, collector and investor who has managed to develop this holistic perspective both in her personal and...

HERO BABY TURKEY is preparing to sell locally-developed baby food to international markets. Jarred baby food with prebiotic compounds, which was developed to meet the needs of Turkish customers, will be on shelves in Italy, Spain, the UK, Sweden and the Czech Republic in the second half of 2021. Swiss international consumer food manufacturer, Hero...

Sabanci Holding’s Industry Group’s profit has exceeded its turnover. The holding’s three industry subsidiaries, Kordsa, Brisa and Temsa recorded a turnover of TRY 12bn in 2020, despite the pandemic. As the Industry Group entered 2021, Kordsa doubled its operating profit and Brisa increased it by 2.4-fold in the first quarter of the year. “Sectors in...

BY FEHMI KOFTEOGLU The SARS COV-2 virus is mutating, with new variants emerging each passing day. But how will it affect the Mediterranean region in terms of international tourism? The Mediterranean is considered the center of global tourism but the region is also in the spotlight as the coronavirus ravages littoral nations. No estimation can...

Aiming to increase its chemical production capacity through products and equipment developed in its own R&D center, Eralp Grup plans to launch a new factory in Gonen by year-end. The company will begin production of chemical raw materials that are not produced in Turkey, as well as the products that it developed in its own...

Police detained dozens of people in an investigation of a cryptocurrency trading platform and sought its founder’s arrest in Albania, police said on Friday, after Turkish citizens filed criminal complaints saying they had been scammed. The Thodex platform, which had been handling daily cryptocurrency trade worth hundreds of millions of dollars, said on its website...

BY ZEYNEP GURCANLI The AK Party government has taken surprise steps one after another. Turkey’s withdrawal from the Istanbul Convention on combating violence against women, the closure case against the People’s Democratic Party (HDP), the dismissal of HDP’s human rights defender Omer Gergerlioglu from his post, taking him into custody from the parliament (where he...

BY ZEYNEP GURCANLI THE MIDDLE EAST IS IN A STATE OF FLUX. Although U.S. Secretary of State Antony Blinken didn’t directly list the Middle East among America’s foreign policy priorities, the Biden administration carried out its first military salvo in the region, less than two months after taking office, targeting Iranian-backed Shiite militias deployed on...