Why Should I Invest in Tourism in Istanbul

Gokce Nacar

Apr 02 376 read

Why Should I Invest in Tourism in Istanbul

As everyone knows, Turkey is one of the best tourist destinations in the world. Due to its location at that exact midpoint in Asian, African, European, and Middle Eastern Countries, four seasons can be experienced in Turkey and that makes tourist potential is nearly 40 million annually. Also, most of these tourists visit especially Istanbul in Turkey.

So, can we assume that investing in tourism in Istanbul is logical?

The answer is yes! If you want to do some investment but do not know which sector is more convenient, you should prefer to invest in tourism.

But why? Here are 4 important reasons for you to invest in tourism in Istanbul.

Attractions

According to estimated data, more than 16 million people are living in Istanbul, and before the pandemic, nearly 25 million tourists were visiting the city annually. Due to Istanbul hosted many old empires such as Ottoman and Byzantine, there are lots of historical ruins and constructions from those times and even this reason makes Istanbul more touristic and visitable.

In addition to the historical part, there are too many important museums, art galleries, and natural beauties that attract tourists to Istanbul. Therefore investing in Istanbul would be a good preference.

Costs Are Lower

Popular Europe cities are more expensive than Istanbul in terms of costs when constructing a hotel, and besides the costs, there are investment incentives as well as operational incentives, like incentives on interest rates or tax exemptions. These make it easier to invest in tourism in Istanbul.

Robust Economy

Due to the rising young population and strong economic growth, Istanbul is one of the best places to invest in. An example of strong economic growth may be GDP. Istanbul has $17.1 thousand USD GDP per capita, which is well above the national average. GDP per capita in Istanbul has increased more than fivefold since 2001.

With these factors and the demand for quality hotels and accommodation, it gets easier to invest in tourism in Istanbul.

Full of Opportunities and Potential

Istanbul has so many opportunities for investors. After the 1980s, the city decided to change its economy from low-cost manufacturing to knowledge-based industries and high-value-added services sector. This change brings global developments, and Istanbul became a cosmopolitan city with a high population and developed facilities. Due to these reasons, investing in tourism in Istanbul makes sense today.