Turkey Tourism and Real Estate Proving Popular

New data from the Turkish Statistics Institute has confirmed that the country’s tourist market is continuing to expand - and fast. Numbers clearly show a 25.6% increase in visitor numbers during the 12 months to October 2007, with tourist numbers reaching a total of around 21.1 million in total, confirming Turkey’s continued popularity.

Just last week Turkish Culture and Tourism minister Ertugrul Gunay recently confirmed that the country’s government is planning to increase the amount it spends on promoting itself to prospective visitors overseas. Turkish daily newspaper, the Turkish Daily News, reported Gunay as stating that officials had set themselves the target of boosting tourist numbers from around the 20 million mark this year to a massive 25 million in 2008.

Industry analysts have no doubt that they will succeed in driving even more tourist traffic to the country, good news indeed for an economy happily reaping the benefits of this inbound foreign money, the amount of revenue thought to have been generated by the rise in visitor numbers having risen by 8.6% in the last year.

If domestic market jitters are getting you down, this could be music to your ears, as, following on from its ever expanding tourism boom, Turkey’s buy-to-let sector has subsequently been highlighted as a potentially lucrative market for investors to consider.

UK broadsheet The Telegraph has advised prospective buyers of foreign property that rental accommodation in the most popular areas is in strong demand and that, together with high prospects for capital growth, property in Turkey is worth considering for an overseas property investment in 2008.