16:23 GMT +3 hours27 August 2016
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A beach in Antalya.

Turkey's Tourist Industry Collapses as 1,300 Hotels Go on Sale

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Some 1,300 hotels have been put up for sale in various Turkish resorts as economic problems, terrorist attacks and the crisis in relations with Russia are felt in the tourist sector, Turkish media reported Monday.

MOSCOW (Sputnik) — With over 400 hotels for sale in the tourist capital Antalya, Turkey's tourist industry has descended into one of its worst crises in history after the number of Russian tourists visiting the country dwindled and increasing terrorist attacks left the country's security weakened, the Turkish Zaman newspaper reported.

Turkey is facing a shortfall of nearly 4.5 million Russian tourists this year, causing Turkey's tourism industry to miss out on some $4.5 billion in lost revenues, according to Aegean Touristic Enterprises and Lodging Association (ETHICS) Chairman Mehmet Isler, as quoted by the newspaper.

European tourists, mainly from Germany, have changed their preferences to Greek resorts, he added, citing the "propaganda" of the recent terrorist attacks in Turkey as covered by the European media as the reason for this trend.

A large number of hotels and companies operating in the tourist sector face mounting debt problems, with the fallout from the Russian Su-24 incident driving hotel owners to sell their property, real estate agent Ismail Ozer said, according to the report.

Relations between Ankara and Moscow deteriorated after Turkey downed a Russian Su-24 jet, which was deployed in an anti-terrorist operation in Syria, over an alleged violation of Turkish airspace on November 24. Moscow refuted the claims of an airspace violation and imposed anti-Turkish economic measures, which included a ban on the sale of Turkish tour-packages.

In early January, an explosion occurred on a central square in Istanbul’s historical city center. At least 10 German tourists were killed, while 17 people were injured. In October 2015, twin blasts rocked Turkey's capital Ankara, killing over 100 people and injuring over 400. The attack has been linked to Islamist terrorist groups.

Related:
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Russian Tourists in Turkey Warned About Daesh Kidnapping Threat
Turkey's Tourism Crisis May Put Economy on Brink of Collapse
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economy, terrorism, tourism, Antalya, Turkey
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  • Linda
    It is costly to be a friend of US and Nato. Ask EU, they know what the sanctions and extra military spending has cost them.
    The Dreams of Ottoman emperor Erodogan to expand his territory and his greed for money on illigal oil and arms trade with Daesh is ruining Turkey.
    The criminal Erdogan should be ousted from power.
  • jj42
    If the Turks get rid of Erdogan they might have a chance of recovery, come on Turks get rid of this stain on your country.
  • backfromthegraav
    So .... Hey why not fiul them up with teh refugees that you created Turkey .... and you turks can be teh maids !
  • jasin reply toLinda(Show commentHide comment)
    Linda, I can't think of any NATO ally that doesn't eventually get punished for it.
  • peaceactivist2
    That's how things should have been when acting evilly
  • Want2B Wiseguy
    1300 buildings for the refugees that the Turkish government took part in making. Move the refugees into the hotels asap and make Erdogan's corrupt gov pay for it.
  • Jet fuel can't melt steel beams
    Let them beg a while , the us won't send their people here erdo, game over.
  • jimbogoofball
    Turkey's Tourist Industry Collapses as 1,300 Hotels Go on Sale

    LOL LOL LOL LOL LOL LOL LOL LOL LOL
    Now if we can kill more zionist economies like this one, would punish them until Russia wins. GO RUSSIA
  • maxxus
    Come on Turkey!! Turkish citizens, business community, military the psychopathic play pretend Sultan is leading Turkey to ruin. It will only get worse. Force him to resign, depose him, arrest him, you need to get rid of Erdogan.
  • siberianhusky
    Let Erdogan's nightmare begin. Russia play this one too the hilt and take no prisoners with Turkey. Let them squeal and let it hurt, 1300 hotels on the block should only be the beginning.
  • klod.infobeez
    It's just the first part of the beginning.
  • Andreas Koppain reply toklod.infobeez(Show commentHide comment)
    klod.infobeez, Or as Churchill once said: "This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning." :)
  • Ann
    AS USUAL, this is only costly to the current owners trying to make a buck. The Turkish oligarch friends of Erdogan will make a killing, by buying these distressed businesses for almost nothing. They know things will cool eventually and business will return. THEY have the money to wait it our - these owners do not.

    This is just another transfer of wealth scam that they can blame on Russia.
  • Ann in reply tojimbogoofball(Show commentHide comment)
    jimbogoofball, Somewhere there's got to be a headline that reads "Putin Punishes Turkey, Collapses Turkish Economy!"
  • michael
    there may be the sales but at the end of the day, there may be no major or even minor return of tourists to turkey.
  • Mitach2002
    Good. I hope their economy implodes, then you may see leadership change.
    Hopefully though not one idiot for another idiot.
  • A = π r 2in reply toLinda(Show commentHide comment)
    Agents of the Turkish government could be responsible for the 6 billion in losses suffered by the Egyptian tourism sector since November 2015. If Turkey wishes to give it then it must also be prepared to take it.
  • Baybarsin reply toMitach2002(Show commentHide comment)
    Mitach2002, Calling Erdogan an idiot is an insult to idiots everywhere!!
  • julia.stein86
    Very good friend of mine is a real estate agent in Istanbul and she complained that political issues hit the market too. Attitude to Russian buyers altered, of course, but many Russians also stopped considering to buy a holiday property in Turkey. Terrorist threat affects Turkish economy, it’s logical. But even in this situation there can be prospects. I was wondered when I read in the article tranio.com/turkey/cx/stand-off_mode_will_russians_stay_on_the_turkish_real_estate_market that now Turkish developers can give a really good discounts to potential buyers. Moreover, so called disastrous impact of deteriorating Russia-Turkey relations is a bit underestimated, there were not so many Russian investors in Turkey property market. But, of course, tourism will be plummeting further.
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