"The economic and tourism sectors in Turkey performed exceptionally well in 2023
"As one of the world's top 11 economies, Turkey has significantly increased its investment in infrastructure since 2002. It has consistently improved the investment environment to attract foreign capital, vigorously developed foreign trade, and achieved substantial economic progress. This has resulted in the formation of a new generation industry structure, with modern services as the main component and industry and agriculture as complementary sectors. According to purchasing power parity calculations, the average economic growth rate from 2002 to 2022 was 5.4%."
"The new generation industry structure, with modern services as the main component and industry and agriculture as complementary sectors, has contributed to Turkey's economic growth. According to purchasing power parity calculations, the average economic growth rate from 2002 to 2022 was 5.4%.
According to the latest data from the Turkish Statistical Institute, Turkey's GDP growth rate for the third quarter of 2023 reached 5.9%."
"After maintaining a high GDP growth rate, Turkey's adoption of traditional and prudent economic policies
has led to multiple international credit rating agencies adjusting their outlook on Turkey's credit rating."
"S&P (Standard & Poor's) has upgraded Turkey's credit rating outlook to positive."
"Fitch Ratings believes that Turkey's outlook has undergone a positive shift amid policy reforms."
"The International Monetary Fund (IMF) has raised its economic growth forecast for
Turkey to 4% and anticipates a decrease in inflation in 2024."
While Turkey's GDP growth rate is impressive, the country's tourism industry is growing at twice the pace.
Turkey's tourism sector has shown outstanding performance in attracting foreign visitors and generating
revenue.
"In the period from January to November 2023, the number of foreign tourists in
Turkey reached 46.72 million, marking a growth of 10.82% compared to the same period in 2022."
"In the first nine months of 2023, Turkey's tourism sector generated revenue close to $42 billion,
with an average spending per tourist reaching $942."
