Turkey's Tourism Revenue Breaks Records in 2024, Unlocking New Opportunities for Real Estate Investment

Turkey's tourism sector achieved an all-time high in 2024, recording an 8.3% growth compared to 2023, reaching a staggering $61.1 billion, according to the Turkish Statistical Institute (TÜİK) as reported by Turkey Urgent.

This remarkable growth enhances real estate investment opportunities in Turkey, especially in major tourist hubs like Istanbul, Antalya, and Bodrum, where demand for properties continues to rise, making the real estate market more attractive to investors.

Statistics reveal that 17% of total tourism revenue came from Turkish citizens living abroad. Personal expenditures accounted for $43 billion, while all-inclusive travel expenses amounted to $17.4 billion.

Increase in Tourist Numbers & Its Impact on Real Estate The number of visitors to Turkey grew by 9%, reaching 62.2 million tourists, leading to increased demand for touristic real estate, including serviced apartments and luxury residences in coastal cities.

The average nightly spending per visitor was $97, reflecting high purchasing power and strengthening the feasibility of investing in tourist properties.

Why Do Tourists Visit Turkey? Leisure, sports, and cultural trips were the top reasons for visiting Turkey, accounting for 64.9% of total visits, reaffirming Turkey’s status as a top-tier travel destination. This surge in tourism directly increases the demand for residential and commercial real estate, making buying property in Turkey a lucrative investment opportunity.

Achieving Turkey’s 2024 Tourism Goals Turkey initially set a goal to attract 60 million tourists with $60 billion in revenue, but it exceeded expectations by achieving 61 million tourists and $61.1 billion in revenue, showcasing the stability of the real estate market and growing investment opportunities.

Source: Turkey Urgent