Tourism boosts Turkish economy

Friday August 1st , 2008

Turkey's economy is continuing to benefit from growth in the tourism industry, according to new figures.

The Turkish Statistical Institute revealed that the revenues from the holiday rose to £2.4 billion between April and June 2008.

A report from the organisation showed that this is more than a quarter up on the amount recorded a year earlier.

Consumer spending was found to behind much of the revenue, in particular spending from foreign consumers.

Visitors from other countries spent almost £300 each on average, while the overall amount they spent was more than 11 per cent up on the previous year.

This should be good news for overseas property owners who depend on tourism to generate returns, such as buy-to-let investors.

The Association of British Travel Agents recently revealed that the amount of bookings for holidays in Turkey has risen by 20 per cent in the last year.