ANKARA: Turkey tourism revenues fell almost 30 percent in 2016, the country’s statistics office said Tuesday, after visitors stayed away following multiple terror attacks and a failed coup.
In 2016 income from tourism fell by 29.7 percent compared to the previous year, falling to $22.1 billion (19.7 billion euros), the Turkish Statistics Institute (TUIK) said on its website.
The country has been hit by a spate of attacks blamed on Islamic extremists and Kurdish militants while tourists were further spooked by the attempted overthrow of President Recep Tayyip Erdogan in the July 15 failed coup and the subsequent crackdown.
For the whole of last year, over 31 million visitors came to Turkey, TUIK said, compared to nearly 42 million in 2015.
The statistics include Turkish residents who live abroad.
Tourism is a key economic sector in Turkey, accounting for some five percent of GDP, and the slowdown in the sector has contributed to a deterioration in growth.
The economy in the third quarter contracted for the first time year-on-year since 2009, shrinking 1.8 percent.
Tourists have been put off in particular by attacks in locations frequented by foreign visitors blamed on jihadists.
In June 2016, 47 people were killed in a triple suicide bombing and gun attack at Istanbul’s Ataturk airport, with authorities pointing the finger at Daesh jihadists.
And just 75 minutes into 2017, an Daesh-linked militant killed 39 people in an elite nightclub in Istanbul as New Year celebrations were in full swing.
But Turkish officials are still hoping for better times in 2017, pinning expectations on an upsurge in tourism from key market Russia after a deal to normalize ties.
In August, visitor numbers to Turkey from Russia fell 83.63 percent compared with the same month in 2015.
For the whole of 2016, Turkey saw foreign visitor arrivals drop by 30 percent, the tourism ministry said.
“God willing, 2017 will be better than 2016, and 2018 will be better than 2017,” said Tourism Minister Nabi Avci, quoted by the state Anadolu agency.
“Turkey is a perfect destination, everyone should absolutely see it,” UN World Tourism Organization Secretary General Taleb Rifai said.
“And it’s important for this second reason, traveling to Turkey is the best response to give to terrorism,” he added.
Turkey tourism income slumps after attacks, coup
Turkey tourism income slumps after attacks, coup
Diriyah Co. partners with Midad to develop Four Seasons hotel in Diriyah
RIYADH: Saudi Arabia’s sovereign wealth fund-backed developer, Diriyah Co., has signed a joint development agreement with Midad Real Estate Investment and Development Co. to construct the Four Seasons Diriyah Hotel and private residences.
The partnership will strengthen collaboration between the two companies through the development of the luxury Four Seasons Diriyah, which will feature 159 rooms, alongside private Four Seasons residences, spanning approximately 235,000 sq. meters within Diriyah’s master plan.
The project’s total value is projected at SR3.1 billion (approximately $827 million), encompassing both land acquisition and construction expenses.
Midad is one of the Kingdom’s leading real estate developers, expanding its portfolio of high-end projects and maintaining numerous strategic partnerships with prominent global brands, reinforcing its reputation as a trusted name in luxury residential and hospitality development across Saudi Arabia.
This partnership marks the first major collaboration between Diriyah Co. and Midad, supporting Diriyah’s plans to develop 40 luxury hotels across its two main projects: the 14-sq.-km Diriyah Project and the 62-sq.-km Wadi Safar Project, a premium destination that blends lifestyle, culture, and entertainment.
Commenting on the agreement, Minister of Tourism and Secretary-General of Diriyah Co., Ahmad Al-Khatib, said: “The Kingdom continues to set new standards in developing tourism destinations, with Diriyah at the forefront.”
He added that such partnerships enhance the world-class experiences Saudi Arabia offers and strengthen the Kingdom’s position as a leading destination in this sector.
Diriyah Co. CEO Jerry Inzerillo commented that the Four Seasons Diriyah Hotel and Residences will be one of the Kingdom’s largest luxury hotels.
“We are proud to announce this joint development with Midad, one of Saudi Arabia’s top real estate developers. This agreement reflects our ongoing commitment to enabling Saudi partners to contribute to Diriyah’s transformative journey and confirms Midad’s confidence in the opportunities the project presents,” Inzerillo added.
Midad CEO Abdelilah bin Mohammed Al-Aiban said: “This project is a pivotal milestone for our company, allowing us to bring the Four Seasons experience to one of the Kingdom’s most prominent heritage destinations.”
He added: “We are excited to deliver a project that embodies design excellence, world-class service, and sustainable value, while contributing meaningfully to Saudi Arabia’s tourism, cultural, and economic ambitions.”
The collaboration comes amid rapid progress on the SR236 billion Diriyah project, which has awarded construction contracts worth more than SR101.25 billion to date.
Diriyah is expected to contribute approximately SR70 billion directly to the Kingdom’s gross domestic product, create more than 180,000 jobs, accommodate 100,000 residents, and host around 50 million annual visitors.
The development will feature contemporary office spaces accommodating tens of thousands of professionals across technology, media, arts, and education, complemented by museums, retail destinations, a university, an opera house, and the Diriyah Arena.
It will also offer a diverse selection of restaurants and cafes, alongside nearly 40 world-class resorts and hotels distributed across its two primary master plans.
