ISTANBUL: The number of foreigners visiting Turkey dropped 38 per cent in August, official data showed on Thursday, showing a persistent decline as a series of deadly bombings, a failed coup and tensions with Russia kept tourists away. Tourist arrivals fell 37.96 per cent year-on-year in August, with 3.18 million people arriving during the month, data from the Tourism Ministry showed. It was the fourth consecutive month when the tourist numbers dropped more than 30 per cent. On Wednesday, Turkey’s central bank governor blamed falling tourism revenues for slowing growth.
“The coup attempt and a decline in tourism revenues have hit economic growth, but we expect that the slowdown in the economy will be temporary,” Murat Cetinkaya said. Tourism revenues are among the key sources of financing for Turkey’s current account deficit and the decline signals more pain for an economy, already smarting from weak private investment and exports. Ratings agency Moody’s cut Turkey’s sovereign debt rating to “junk” status last week, citing fears for the rule of law following the failed July 15 coup, as well as the impact of a slowing economy.
However, President Tayyip Erdogan said a pick-up in tourism figures has started after Turkey mended ties with Moscow, ending months of acrimony after shooting down a Russian warplane over Syria last year. “There is a serious movement in tourism, the resumption of Russian charter flights immediately created a boom. We are much more hopeful for the next season,” he told a meeting of local officials in Ankara on Thursday.
