Turkish tourism sector expects $12 bln loss in revenue

Tourism representatives have said 2016 has been "much worse" than the predicted "worst case scenario," noting the revenue loss in the sector would likely surge to $12 billion over the year.

The current problems, which have risen amid escalating security concerns and a significant decrease in the number of Russian tourists, will likely impact other sectors, including the agriculture sector, and push up the unemployment rate across the country, according to sector representatives. 

The head of the Antalya Chamber of Trade and Industry (ATSO), Davut Çetin, said the number of Russian tourists has almost zeroed over this year and they expected a significant drop in the number of arrivals from Europe, mainly from Germany, after a series of terror attacks which recently hit Turkey. 

He noted the organization submitted various scenarios to the government after the Russian crisis erupted, but only optimistic scenarios were shared with the public. 

'Much worse than expected'

"We are at a point which is much worse than what we had earlier predicted in our worst case scenario," he noted at a meeting late March 18. 

The vice president of the organization and the head of the Mediterranean Touristic Hoteliers' Association (AKTOB), Yusuf Hac?süleyman, said they predicted a loss of $8 billion in revenue in their previous scenario upon the predicted loss of around 4 million tourists following the jet crisis with Russia, by presuming the spending per capita at $1,000 plus the multiplier effect at 1.87. 

"With the addition of the expected losses from the European market, we have now revised our potential revenue losses to $12 billion," he said one day before another terror attack in Istanbul, which killed at least four...