Turkey's Tourism Revenues Under Pressure as Prices Rise

Turkey's reputation as an affordable travel destination is being undermined by rising costs and exchange rate policies, causing a decline in tourist arrivals.

The UK-based Needham family, who have visited Turkey five times since 2021, noticed a significant price difference on their recent trip to the Mediterranean coast. A 15-minute jet-ski ride now costs £90 ($122), up from £20 just a year ago.

Tour operators and travel agencies attribute this increase to several factors, including Turkey's exchange rate policy, which aims to ease inflation and burden on Turkish consumers but makes the country more expensive for foreign visitors. The Iran war has also affected tourists' appetite to visit Turkey.

Turkey's tourism arrivals fell 3.6% year over year in May, 4% in June, and another 0.3% in July, with European visitors accounting for some of the largest dropoffs. UK tourists experienced a yearly decline of 11% last month.