Forecast: Production in Travel Agency and Tour Operator Activities Sector in Turkey

The Travel Agency and Tour Operator Activities sector in Turkey has shown significant fluctuations over the past decade. Between 2013 and 2019, the sector saw a general upward trend with some volatility, peaking dramatically in 2019 before experiencing a sharp decline in 2020 due to the pandemic, where production value fell by 64.12%. However, the sector quickly rebounded with considerable increases of 130.26% in 2021 and 50.88% in 2022. As of 2023, the value stood at 131.88 billion New Turkish Liras, marking a notable increase of 31.7% year-on-year.

Forecast data from 2024 onwards suggests a steady growth trajectory, with an average annual growth rate (CAGR) of 7.59% over the next five years. By 2028, the sector is projected to reach 214.41 billion New Turkish Liras, reflecting an overall growth rate of 44.17% from 2023.

Future trends to watch for:

• Effects of global political and economic stability on tourism demand.
• Emerging markets and changing consumer preferences for travel destinations.
• Technological advancements in travel booking and customer service.
• Government policies and infrastructure improvements in Turkey.
• Ongoing recovery and long-term impacts of the COVID-19 pandemic.