Travel and tourism GDP to grow 5.5% over next decade

Turkey’s travel and tourism gross domestic product (GDP) is projected to grow by 5.5% annually over the next decade, according to the World Travel and Tourism Council (WTTC).

“By 2032, the sector’s contribution to the nation’s GDP could reach nearly TRY 1.04tr (USD 117bn), representing 11% of the total economy,” the WTTC said.

The sector is set to create more than 716,000 jobs over the next 10 years, it added.

By the end of this year, the sector’s contribution to GDP is expected to grow 15.5% to USD 68.5bn while employment in the sector is set to grow by 4% to reach more than 2.5 million jobs.

Turkey is set to be the fourth most popular European destination for travelers this summer, the research read.

Last year despite a gloomy year amid coronavirus-related mobility restrictions across the world, Turkey generated USD 24.5bn in tourism revenue.

The country welcomed 24.7 million foreign visitors in 2021.

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