Turkey Loses Its 'Cheap' Reputation

Bloomberg reports Turkey is no longer a bargain as arrivals fall for three straight months and UK.

Bloomberg, as carried by LIGA.net, UNN, and The Economic Times, reports that Turkey is no longer a cheap holiday destination. Tourist arrivals fell 3.6% year-over-year in May, 4% in June, and another 0.3% in July, according to Turkey's Ministry of Culture and Tourism. Bloomberg notes UK tourist numbers fell 11% last month; Britons make up the country's third-largest share of foreign visitors.

For years Turkey was the go-to affordable getaway for Europeans like UK schoolteachers Donna and Dave Needham, who Bloomberg says visited five times since 2021. This summer they were priced out of their usual resort; The Economic Times relays their account that a 15-minute jet-ski ride jumped to £90 from £20 a year earlier. "People come here and still have a lovely time, but it's no longer cheap as chips," Antalya villa operator Tony Basoglu told Bloomberg.

Bloomberg attributes the squeeze to Turkey's currency policy, under which the lira's depreciation is kept below inflation, helping Turkish consumers but making the country pricier for visitors with foreign currency. Tour operators also cite the proximity of the war in Iran. Bloomberg adds that domestic holiday trips in 2025 fell for the first time since COVID-19 began, per the Turkish Statistical Institute, with many Turks finding Greece cheaper.

UK travel firm Holiday Extras reports demand shifting toward Slovenia, Montenegro, and Tunisia, according to Bloomberg. Bloomberg also notes TÜRSAB asked a court in January to block 10 foreign travel sites, including Airbnb and Expedia, over unfair-competition claims — a detail LIGA.net repeats. Bloomberg says Emre Narin of Marti Otel sees margins, not visitor numbers, as investors' real problem.

Fewer arrivals haven't yet dented revenue: Bloomberg says higher spending per visitor is offsetting the drop, with tourism accounting for 4.1% of GDP in 2025. Bloomberg reports the season started rocky amid the Iran conflict and only picked up in July. The Needhams told Bloomberg Turkey "won't be our first choice next year," a signal of loyalty risk heading into 2027 bookings.