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    Turkey's tourism benefits from global crisis

    HotNewsTurkey Staff
    29.10.2008 - 15:20 | Son Güncelleme: 29.10.2008 - 15:20

    Turkey's tourism industry, worth some $20 billion, is expected to benefit from the ongoing global crisis despite its negative affects on country's economy, Turkish Daily News (TDN) reported on Wednesday.

    "Although the economic crisis has hit various industries across the world that is not the case for tourism in Turkey’s Mediterranean province of Antalya, which experiences an annual increase of 19 percent, with the number of tourists already amounting to nine million," Ibrahim Acar, the director of the Antalya Culture and Tourism Directorate told TDN.

     

    Around 747,000 tourists visited the city this month with 21 percent increase when compare to 615,000 tourists in last October, Acar also said.

     

    "The appreciation of the U.S. dollar had a positive influence on the tourism industry if a bit late since we have already left the peak time," he said.

     

    While most of the industries in Turkey that borrowed foreign loans suffer due to the rising U.S. dollar against Turkish lira, tourism benefits from this since the payments received by foreign currencies.

     

    The lira lost nearly 30 percent against average euro-dollar basket prices in last one month because of the increased demand from foreign investors during current global financial crisis.

     

    High quality hotels, reasonable prices and first class service make Antalya and indispensable holiday destination he said adding that the early bookings have helped the city get through the crisis.

     

    "Bookings are made with foreign currency, thus the fluctuation of Turkish lira is not expected to push prices down," he added.

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