JEDDAH, 12 June 2005 — Turkey has urged investors from Saudi Arabia and elsewhere in the Gulf to help expand its tourism infrastructure. The country plans to develop major new tourist hotels and resorts on its Black Sea and Mediterranean coastlines that will open up lucrative joint venture opportunities for investors, according to a senior Turkish government officer.
“Turkey received nearly 18 million tourists in 2004 and the figure is expected to jump to over 20 million in the very near future,” said Tuncer Kaylaar, undersecretary of foreign trade. The country’s priorities include increasing hotel room nights substantially to keep pace with rising inflow of overseas tourists. There will be enormous opportunities for investors from the Kingdom and the rest of the Gulf in the form of joint ventures in tourism development.
In keeping with the increase in tourist inflow, revenue from tourism touched $15.9 billion in 2004, rising from $4.3 billion in 1994. The number of tourists visiting Turkey from Saudi Arabia, the UAE, and other Gulf countries is increasing every year, and in 2005 the country expects large numbers from Syria as well. Contributing to the increase are over 4,000 travel agencies that operate in Turkey, offering tourists a wide variety of destinations and services.
