Invest in Tourism in Istanbul

Gokce Nacar

Mar 23 410 read

Invest in Tourism in Istanbul:

What are the advantages of tourism investment in Istanbul?

By being ranked No. 6 in the world in terms of the number of tourists, and by setting a record number of 51.7 million visitors in 2019, Turkey has maintained a prominent position among the countries most attracting tourists in the world.

Istanbul, which is the historical and cultural capital of Turkey, ranks first among Turkish cities in terms of the number of visitors with 14,906,663 tourists in 2019, ahead of Antalya (the capital of tourism in Turkey), leaving behind other beautiful cities such as Bursa, Edirne, Trabzon, Izmir, Mugla, Yalova, Kocaeli, and others.

Given Istanbul's important position in the tourism industry in Turkey, we will provide you with an introduction to the types of investment in Istanbul, the most important features, the desired returns, and the facilities provided by the government to support the tourism sector in Istanbul.

What are the advantages of investing in Istanbul in general?

For two consecutive years, Istanbul maintained its position among the most visited cities in the world, according to the global company (Euro Monitor) in its report issued at the end of 2019, so that Istanbul outperformed the political capital of the world (New York) and other cities ranked among the most prestigious global cities, and to advance the rank of On the rankings of the world's most popular cities; To become ranked No. 9 after it was ranked No. 10 in the previous year.

As for the European level, Istanbul left an important imprint on the European level, when it ranked No. 3 among the most visited cities in Europe.

According to this report and other reports and studies, Istanbul is considered a registered sign of embracing all kinds of investments due to its:

The large population, which reached nearly 16 million people, made Istanbul by itself exceed 131 countries in terms of the population!

Being the largest industrial center in Turkey with a significant growth rate, it contributes to 55% of Turkey's total exports, and 38% of its total industrial production.

Diversity of investment fields, due to its strong infrastructure that provides needs for various types of tourism, industrial, commercial, service, and even agricultural investments, among others.

The best tourist investment areas in Istanbul

Here are some of the best investment areas in Istanbul:

Basaksehir district in Istanbul: Its location close to the city center and Istanbul Airport has made it an attractive magnet for Arab investments, especially Gulf ones.

Bahçeşehir Istanbul: Bahçeşehir district is located close to the Başakşehir district, with its multi-shaped residential complexes and modern designs and projects.

Maslak: The presence of the Maslak area within the prestigious and ancient Sariyer neighborhood in Istanbul represented an opportunity to be an incubator area for tourism and luxury real estate projects.

Beylikduzu Istanbul: Beylikduzu, located on the European side of Istanbul, overlooking the Marmara Sea, is distinguished by its modern architecture and giant real estate projects.

Sultan Eyup District: One of the attractive tourist areas in Istanbul is the Eyup region, which includes the mosque of the Companion Abi Ayyub Al-Ansari, may God be pleased with him, which is a destination for many tourists and Muslim visitors from everywhere.

Supporting and encouraging the Turkish government for tourism investment:

The Turkish government attaches great importance to tourism investments in it and pays attention to foreign investments in this very important sector, which annually supplies the state treasury with high numbers. For this reason, Turkey launched what it called (the system of stimulating foreign investments in Turkey), as this system included several Elements, aiming to support foreign investments, including tourism investment.

The elements of support vary between tax exemption, as in the exemption from value-added tax KDV, support for social security premiums for investment owners, or the allocation of land suitable for investment according to a special system and certain conditions.