ISTANBUL: Turkey’s jewelry sector is exploring new marketing opportunities in Middle Eastern and Asian countries to mitigate risks posed by reduced tourist arrivals, the crisis with Russia and a global economic slowdown. Iran, Lebanon, the United Arab Emirates and Israel in the Middle East and China in Asia are the top targets of Turkish jewelers, according to members of Turkey’s jewelry association.
“Foreigners prefer Turkish jewelries because of their high quality, affordable prices and product diversity,” said Norayr Isler, head of the association. Exports of Turkish jewelries stood at 2.5 billion U.S. dollars last year, with significant shares from regional countries. The turnover hit four billion dollars when combined with direct sales to tourists.
“The Middle East has always been an attractive market for Turkish jewelers as Arab women love to wear jewelries,” Isler said. The volume of Turkish jewelries in Iran rose to over 60 million dollars in March alone. Isler noted that Turkish jewelers are giving a special consideration to China and Hong Kong. “We’re following the developments in China and Hong Kong very closely to further flourish our partnership,” he said, referring to Turkish brands’ active participation in trade fairs in China and to the regular visits there of Turkish jewelers.
Arda Isler, a jewelry designer, said Turkey jewelries have been very popular in foreign countries as they rank third now in the global market just behind Italy and the United State. “The sector comes to the spotlight by applying very advanced technology and highly skilled and artistic jewelry designers,” he added.
The sector has been hurt, however, by a combination of stalled jewelry exports to Russia, a decline in foreign arrivals and a global stagnation. Moscow imposed a set of sanctions against Ankara after Turkey shot down a Russian warplane in November last year. “Jewelry ateliers, which used to work with mostly Russian customers, are in deep trouble now,” said Arda Isler.
The number of Russian tourists, among others, fell by almost 60 percent in the first three months of this year, as the threat of more terror attacks is scaring away arrivals from other countries. In the face of a global slowdown, “people do not feel safe and secure to spend money on luxurious products like jewelry,” said Norayr Isler. Against all odds, Turkey reported over 200 million dollars in jewelry exports in March alone, marking a year-on-year increase of almost 25 percent.
