Research and Markets: Latest Report Examining Turkey's Lucrative Tourism Industry Now Available

DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/e9e293/turkey_tourism_rep) has
announced the addition of the "Turkey Tourism Report Q3 2009" report to their
offering.

The Turkey Tourism Report provides industry professionals and strategists,
corporate analysts, tourism associations, government departments and regulatory
bodies with independent forecasts and competitive intelligence on Turkey's
tourism industry

Overview

Turkey achieved a strong performance in the tourism sector last year, the report
estimates that foreign visitor arrivals increased over 13% year-on-year (y-o-y)
to nearly 26.4mn visitors; although the growth rate slowed compared with 2007.
However, following a trend of weaker quarterly growth during the course of 2008,
the latest data show further deterioration in arrivals as anticipated. In Q109,
figures show a fall in foreign visitor arrivals (excluding Turkish citizens
residing outside the country) of about 2% y-oy (this compares with annual growth
of about 18% in Q108).

Hospitality

The latest hospitality sector data are for the first quarter of 2009 and reveal
that the total number of tourist (foreign and domestic) room nights amounted to
over 45.7mn nights, an increase of 3.8% y-o-y. The number of foreign tourist
room nights - 68% of the total - rose a relatively strong 10% y-o-y to about
31.1mn nights in Q109, which is a favourable outturn given the decline in
foreign visitor arrivals over the same period.

Forecast Scenario

Data on foreign visitor arrivals for Q109 are broadly in line with our view
which remains unchanged this quarter - of negative growth in arrivals of -3.5%
y-o-y in 2009. This is set against a background of severe worsening of economic
conditions in Turkey's major source markets, including Germany, Russia, the UK
and the eurozone. Modest recovery in arrivals should take place next year. The
weakness of the Turkish lira against the US dollar and the euro, as seen in
2008, is also expected to continue during the course of this year (subject to
significant volatility in the near term), which will assist the competitiveness
of Turkey's tourism sector. From 2010 however, the forecasts appreciation of the
lira against both currencies, dampening growth in visitor arrivals to Turkey
over the latter part of the forecast period.

Turkish Airlines

In financial results for 2008, Turkey's national airline, Turkish Airlines
(THY), reported a net profit of US$874mn, up a strong 26% compared with a year
earlier. Revenue was up a similar annual percentage to US$4,719mn, with proceeds
from international traffic accounting for 78% of total revenue, while 22% was
from domestic traffic. Fuel costs, meanwhile, accounted for 34% of total
operating costs, compared with 27% in 2007. Latest results for Q109 show THY
achieved a net profit of US$94mn, which was down 45% y-o-y (but only a fall of
24% in Turkish lira terms). While operating revenue increased by 18% y-o-y, the
decrease in fuel prices reduced the share of fuel costs in total expenses from
32% to 22% (compared with a year earlier). The number of passengers carried also
increased 8% y-o-y to 4.9mn. In May 2009, as part of a large-scale expansion
plan, THY and Boeing signed an order for five Boeing 777- 300ERs at a current
cost of US$1.36bn.

Key Topics Covered:

EXECUTIVE SUMMARY

INDUSTRY FORECAST SCENARIO

MARKET OVERVIEW - TRAVEL

MARKET OVERVIEW - HOSPITALITY

BUSINESS ENVIRONMENT

MONETARY POLICY

GLOBAL ASSUMPTIONS

Regional Case Study - Accor

COMPANY PROFILES

COUNTRY SNAPSHOT: TURKEY DEMOGRAPHIC DATA

BMI FORECAST MODELLING

Companies Mentioned:

* Turkish Airlines
* Dedeman Hotels And Resorts International

For more information visit
http://www.researchandmarkets.com/research/e9e293/turkey_tourism_rep

Laura Wood
Senior Manager
press@researchandmarkets.com
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716

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