Turkey’s travel, tourism GDP to grow 5.5% over next decade

Turkey's travel and tourism gross domestic product (GDP) is projected to grow by 5.5% annually over the next decade, according to new research by an industry group.

"By 2032, the sector's contribution to the nation's GDP could reach nearly 1.04 trillion liras ($117 billion), representing 11% of the total economy," the World Travel and Tourism Council (WTTC) said on Monday.

The sector is set to create more than 716,000 jobs over the next 10 years, it said.

By the end of this year, the sector's contribution to GDP is expected to grow 15.5% to $68.5 billion while employment in the sector is set to grow by 4% to reach more than 2.5 million jobs, WTTC said.

Turkey is set to be the fourth most popular European destination for travelers this summer, it added.

Last year despite a gloomy year amid coronavirus-related mobility restrictions across the world, Turkey generated $24.5 billion in tourism revenue.

The country welcomed 24.7 million foreign visitors in 2021.