Altin Property

Tourism in Turkey

As the 10th most popular tourist destination in the world and attracting more than 38.6 million tourists in 2017, Turkey continues to present vast investment opportunities in both the established and newly-developing subsectors of the tourism industry.

With its favorable location, existing potential, mega projects, and ambitious targets set for 2023, the tourism sector continues to grow at a rate that outstrips its bed capacity. Even though there has been a surge of investments in the last several years, there is still ample room for new ventures. Eastern and Southeastern Anatolia both have untapped potential for culture tourism as well as the increasingly popular boutique hotel concept, which blends well with the characteristic nature, history, and culture of the regions.

Here are some essential facts and figures about the Turkish tourism sector:

- In 2016, Turkey was the 10th most popular tourist destination in the world according to UNWTO.

- According to the Ministry of Culture and Tourism, the number of foreign travelers arriving in Turkey in 2017 was 38.6 million, while total turnover of the tourism industry that same year was USD 26 billion.

- Growth in the Turkish tourism industry has been above the global average in recent years, and the direct contribution of the industry to the current account deficit in 2017 was 36 percent.

- By the end of 2017, there were 12,856 registered accommodation facilities. 9,186 of these facilities were licensed by their respective municipalities, while the remaining 3,670 held tourism operation licenses. The combined total bed capacity of these facilities exceeds 1,482,492.

- There are currently 281 projects in the pipeline that would add 74,130 much-needed beds to Turkey’s short supply.

- With regard to religious tourism, Turkey is among the few countries in the world that is home to sites from a number of major religions. Of a total of 316 relics, 167 of them belong to Islam, 129 to Christianity, and 20 to Judaism.

- Antalya is the most preferred city in Turkey based on the number of incoming foreign visitors. Visited by 25 percent of the foreign tourists in 2017, Antalya has over 500 4-star and 5-star hotels in its center and surrounding towns such as Kemer, Belek, and Kaş.

- The number of hotel chains and groups in Turkey has doubled since 2001, hitting 165 today. The number of hotels in these 165 chains Turkey totals 824. In addition, 82 percent of chain and group hotels are domestically owned, 15 percent of these are foreign owned, while 3 percent of these have domestic and foreign partners.

- Turkey has 7,200 km of coastline and ranks 2nd among 38 countries with its 454 blue-flag beaches; only Spain has more blue-flag beaches than Turkey with 579. There are also 22 blue-flag marinas in Turkey.

- In terms of geothermal tourism potential, Turkey is among the top seven countries in the world and ranks 1st in Europe with its 1,500 thermal springs. Bed capacity in the various thermal spa resorts has reached a combined 55,140.

- The Belek region stands out as the most significant golf destination in Turkey, ranking among the world’s most popular tourism centers with 15 golf courses, a 50,000-bed capacity, and 2 million tourist arrivals. Moreover, Belek was named the Best Golf Destination in Europe by the International Association of Golf Tour Operators (IAGTO) in 2008.

- Based on 2017 tourism figures, Forbes Travel has ranked the world’s top 10 most-visited cities, with Istanbul coming in at 6th place.
The tourism sector has set annual targets of 50 million tourist arrivals and revenues of USD 50 billion by 2023.

- The Turkish government offers incentives such as reduced utility prices and reduced tax rates, while pursuing policies aimed at eliminating any bureaucratic barriers that may hinder growth in the tourism sector.

Investment Zones in Turkey

There are three types of special investment zones in Turkey:

1. Technology Development Zones - Technoparks

Technology Development Zones (TDZ*) are areas designed to support R&D activities and attract investments in high-technology fields.

There are 63 TDZs of which 50 are operational and 13 have been approved and are currently under construction.

Advantages of TDZs

Profits derived from software development, R&D, and design activities are exempt from income and corporate taxes until December 31, 2023.
Sales of application software produced exclusively in TDZs are exempt from VAT until December 31, 2023. Examples include software for systems management, data management, business applications, different business sectors, the internet, mobile phones, and military command control.
Wages of R&D, design and support personnel employed in the zone are exempt from all taxes until December 31, 2023. The number of the support personnel covered by the exemption cannot exceed 10 percent of the number of the R&D personnel.
Investments for the production of the technological products obtained as a result of the R&D projects conducted in the zone may be made in the TDZ if deemed suitable by the operator company and allowed by the Ministry.
50 percent of the employer’s share of the social security premium will be paid by the government until 31.12.2023.
Customs duty exemption for imported products and stamp duty exemption for applicable documents within the scope of R&D, design, and software development projects.

2. Organized Industrial Zones

Organized Industrial Zones (OIZ*) are designed to allow companies to operate within an investor-friendly environment with ready-to-use infrastructure and social facilities. The existing infrastructure provided in the zones includes roads, water, natural gas, electricity, communications, waste treatment, and other services.

There are 284 OIZs in 80 provinces, 215 of which are currently operational, while the remaining 69 OIZs are being constructed throughout Turkey.

Advantages of OIZs

In addition to the investment incentives scheme in Turkey (general investment incentives, regional investment incentives, large-scale investment incentives, strategic investment incentives, employment incentives, R&D support, etc.), investors operating in the OIZs can benefit from the following advantages:

No VAT for land acquisitions.
Exemption from real estate duty for five years starting after the construction of the plant.
Low water, natural gas, and telecommunication costs.
For unification and/or separation of plots, no tax to be paid. Exemption from municipality tax for construction and usage of the plant.
Exemption from the municipality tax on solid waste if the OIZ does not benefit from the municipality service.

3. Free Zones

Free zones (FZ) are special sites considered to be outside the customs area, although they are within the political borders of the country. These zones are designed to increase the number of export-focused investments. Legal and administrative regulations in the commercial, financial, and economic fields that are applicable within the customs area are either not implemented or partially implemented in the free zones.

There are 19 FZs in Turkey located close to the EU and Middle Eastern markets adjacent to major Turkish ports on the Mediterranean, Aegean Sea, and the Black Sea, with easy access to international trade routes.

Advantages of FZs

-100% exemption from customs duties and other assorted
duties.
-100% exemption from corporate income tax for manufacturing
companies.
-100% exemption from value-added tax (VAT) and special
consumption tax.
-100% exemption from stamp duty for applicable documents.
-100% exemption from income tax on employees’ wages (for
companies that export at least 85% of the FOB value of the
goods they produce in the free zones).

Goods can remain in free zones for an unlimited period.
Companies are free to transfer profits from free zones to abroad as well as to Turkey, without restrictions.

Mall of Istanbul Apartments - Choose this apartment

Located in Istanbul, Mall of Istanbul Apartments offers a garden and an outdoor pool. This self-catering accommodation features free WiFi in the apartments. The balcony features city view.

The apartment will provide you with air conditioning and a seating area. Featuring a hairdryer, private bathroom also comes with free toiletries and slippers.

You can prepare your meals in the privacy of your kitchenette. There is also a restaurant on site.

Car rentals and airport transfer services are available on request. The property also provides laundry and dry cleaning at an extra fee.

Istanbul Ataturk Airport is located 13 km from the property.


1 bedroom apartment (Sleeps: 4)
2 bedroom apartment (Sleeps: 6)

Contact us:
Теl: +90(212) 777-10-22
Теl: +90(212) 777-10-23
Fax:+90(212) 777-00-46

Mob:+90(539) 547-75-22
Telegam:+90(536) 958-68-20
WhatsApp:+90(536) 958-68-20
Viber+90(536) 958-68-20

E-mail: [email protected]
Website: www.altinproperty.com

Address : Ağaoğlu my Office 212 İstanbul Mahmutbey Mah. Taşocağı yolu Cad. No: 3 B Blok Office 7 Güneşli Bağlar - Bağcılar / İstanbul Avrupa