Turkey’s travel and tourism sector’s gross domestic product (GDP) is projected to grow by 5.5 percent annually over the next decade, according to new research from an industry group.
“By 2032, the sector’s contribution to the country’s GDP could reach nearly 1.04 trillion lira (USD117 billion), representing 11 percent of the total economy,” the World Travel and Tourism Council (WTTC) said on Monday.
The sector will create more than 716,000 jobs over the next 10 years, the WTTC said.
By the end of the year, the sector’s contribution to GDP is expected to grow 15.5 percent to $68.5 billion while employment in the sector will grow by 4 percent to reach more than 2.5 million jobs, the WTTC said.
Turkey is set to become the fourth most popular European destination for travelers this summer, according to the agency.
Last year despite being a dismal year amid coronavirus-related restrictions around the world, Turkey generated $24.5 billion in tourism revenue.
The country has received 24.7 million foreign visitors in 2021.