Travel & Tourism - Turkey | Statista Market Forecast

The Travel & Tourism market in Turkey is expected to experience significant growth in the coming years.
In 2024, the projected revenue for this market is US$10.40bn, with an annual growth rate of 5.37% from 2024 to 2029, resulting in a market volume of US$13.51bn by 2029.
It is worth noting that the largest market the Hotels market is, with a projected market volume of US$5.58bn in 2024.
By 2029, the number of users in Hotels is expected to amount to 28.55m users, with a user penetration rate of 35.4% in 2024 and an expected increase to 49.2% by 2029.
The average revenue per user (ARPU) is expected to be US$340.10.
Looking at the market as a whole, it is expected that 80% of total revenue will be generated through online sales by 2029.
It is interesting to note that in global comparison, United States is projected to generate the most revenue in the Travel & Tourism market, with a projected revenue of US$214bn in 2024.
Turkey's Travel & Tourism industry is recovering slowly as COVID-19 restrictions ease and vaccination rates increase.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Turkey's Travel & Tourism market is experiencing significant growth and development, attracting a diverse range of travelers from around the world.

Customer preferences: Travelers in Turkey are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions to explore off-the-beaten-path destinations. This shift in preferences is driving the demand for personalized and immersive travel experiences that allow visitors to connect with the local culture and heritage.

Trends in the market: One notable trend in the Turkish Travel & Tourism market is the rise of sustainable and eco-friendly tourism practices. Travelers are becoming more conscious of their environmental impact and are actively seeking destinations and accommodations that prioritize sustainability. This trend is reflected in the growing number of eco-friendly hotels, tour operators offering responsible travel experiences, and initiatives to protect natural and cultural heritage sites.

Local special circumstances: Turkey's unique geographical location, bridging Europe and Asia, positions it as a crossroads of diverse cultures and civilizations. This cultural richness and historical significance make Turkey a compelling destination for travelers interested in exploring the intersection of East and West. The country's vibrant cities, stunning landscapes, and archaeological sites further contribute to its appeal as a multifaceted travel destination.

Underlying macroeconomic factors: The Turkish Travel & Tourism market is benefiting from strong government support and investment in infrastructure development, aimed at enhancing the overall travel experience for visitors. Improved transportation networks, upgraded accommodation options, and initiatives to promote tourism across different regions of the country are driving growth in the sector. Additionally, economic stability and a favorable exchange rate are making Turkey an attractive destination for international travelers seeking value for their money.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.