Türkiye's tourism revenues spike in war-hit 2022

Türkiye's revenue from the tourism sector hit a record $46.3 billion in 2022 as the number of Russian arrivals surged amidst the war in Ukraine.

However, the country’s trade deficit swelled to more than $109 billion, and energy-import costs went up, Reuters informs.

On annual basis, tourism revenues jumped by 53 per cent and thereby topped a pre-COVID-19 level of $34.5 billion, according to the Turkish Statistical Institute.

As the country’s tourism ministry stated, foreign arrivals to Türkiye totalled 44.6 million last year, which is slightly less than the pre-pandemic peak of 45.1 million.

COVID-19 constraints virtually disappeared in 2022, and the Russians, who were second only to the Germans in terms of foreign arrivals, came in droves, partly because of flight restrictions imposed by Western states in the wake of Moscow's invasion of Ukraine.

Hundreds of thousands of Russians are also estimated to have moved last year to Türkiye, seen as a safe haven for investment in homes and other assets.

Tourism Minister Mehmet Ersoy has recently predicted that 2023 would bring $56 billion in tourism revenue.