The Turkish Government and the Great Interest in the Sector of Tourism
Covid-19 Outbreak and Investment Environment in Turkey
Various investments to be made have been postponed or canceled due to the Covid-19 outbreak, which has affected the whole world and negatively affected the lives of billions of people. The measures taken to protect public health have dealt heavy blows to the national economies. Many sectors have also gotten into a difficult situation due to the economies of countries that have been hit hard. As in all other countries, Turkey has been negatively affected economically, but the Turkish Government has prevented the sectors from receiving heavy blows with the support they have provided. Thanks to these supports, the Turkish Government has exhibited a more stable financial statement and gained a great advantage to return to the normal process faster.
The economy, which was adversely affected by the Covid-19 outbreak, also created advantageous new investment opportunities. One of the most ideal times to invest is being experienced in Turkey, which is preparing to enter a new era with new opportunities. It is the right time for foreign investors to invest in Turkey with the great incentives provided to foreign investors and the Turkish lira devaluation!
The negative economic developments experienced with the Covid-19 outbreak have led to the emergence of new investment opportunities. Foreign investors, who are interested in medium and long-term investments in Turkey, mostly invest in sectors such as finance, automotive, tourism, textile, and energy.
The Turkish government and the great interest in the sector of tourism
Turkey, where is one of the most popular holiday destinations in the world, is at the center of the attention of foreign investors who want to invest in the tourism sector. Turkey is one of the rare countries that attract tourists from all over the world with its central location, developed transportation networks, historical and natural riches, which can be easily reached from all countries. It is one of the most preferred destinations by tourists with its warm climate, clean beaches, and magnificent nature.
Turkey, where is attracting millions of tourists every year, also attracts the attention of foreign investors who want to invest in tourism. The incentives provided by the Turkish Government to foreigners and the fact that the tourism sector is so active in Turkey show that the tourism sector is one of the most ideal sectors to invest in.
Istanbul and Antalya come first among the cities preferred for tourism investment in Turkey. Istanbul is the city that attracts tourists non-stop for 12 months in summer and winter and is the most visited city by tourists in Turkey. The second most preferred city for tourism investment in Turkey is Antalya. Antalya is a city that attracts millions of tourists from all over the world with its warm climate, clean beaches, and magnificent nature. Antalya, a 5-star hotel paradise, is one of the most preferred places for those who want to invest in the tourism sector. Antalya was ranked 10th in the list of the 100 most visited cities in the world.
Turkey, surrounded by seas on three sides, is a country that attracts great attention from tourists. Antalya, the tourism capital of Turkey, welcomes millions of tourists every year. Antalya is one of the leading touristic places with its blue flag beaches, warm climate, natural and historical beauties. Turkey, where coastal tourism is developed, has a coastline of 8,300 km.
Turkey also attracts attention with its historical richness. There are many historical ruins and ancient cities in Turkey, which have hosted many civilizations such as Byzantine, Roman, Phrygian, Hittite, Urartu, Seljuk, and Ottoman for centuries and carry the traces of civilizations. “Gobeklitepe”, which has been described as the zero points of history in recent years, is one of the most popular places.
With its advanced health system, well-equipped and experienced doctors, Turkey is one of the countries chosen for treatment purposes. Health tourism has developed in recent years. Many people coming from abroad for treatment prefer to stay in Istanbul and be treated by specialist doctors in hospitals equipped with professional equipment.
Incentives Provided to Foreigners Investing in Turkey
Some incentives are provided by the Turkish Government to foreign investors who want to invest in the tourism sector. The incentives provided by the Turkish Government to tourism investors holding a tourism operation certificate are as follows:
- Tax Discount
Incentives such as tax reduction, customs duty exemption, and interest support are provided to tourism enterprises with tourism operation certificates.
- Social Insurance Premium Support
Tourism investors are supported by the government by covering the social security premium calculated over the legal minimum wage for the personnel to be employed, and the employer's share. There is no upper limit for social insurance premium support, and it is valid for 10 years.
- Land Allocation
According to the Tourism Incentive Law, state-owned treasury and forest lands can be rented annually to investors by the state at very reasonable prices for touristic facility investments. These allocated lands are offered to investors for 49 years.
- Electricity, Water and Natural Gas Discounts
Businesses with tourism operation certificates pay electricity, water, and natural gas fees at the lowest tariff. In terms of energy, serious support is provided to tourism investors.
- The right to acquire Turkish citizenship
One of the biggest incentives provided to the Turkish Government for foreign investors is the right to acquire Turkish citizenship. With the new regulation that came into effect in 2017, foreign nationals who invest in Turkey can have the right to Turkish citizenship. According to this law, foreigners who invest over a certain amount and create employment in Turkey are given the right to citizenship.
Turkey, which is among the fastest-growing economies in the world, has become the focus of attention of foreign investors due to many reasons such as its young and qualified population, strategic location, advanced infrastructure opportunities, natural and historical beauties it has, and incentives it provides to investors. There are many reasons to invest in Turkey, which provides a lot of support to foreign investors.
You can also check out our article: 13 Reasons for Investing in Turkey
Turkey is one of the best locations to invest in among the world countries. In Istanbul and Antalya, the gates of Turkey to the world, the tourism sector offers the most profitable investment advantages with all kinds of transportation networks, advanced technology, and a crowded population. We determine the best regions with our experienced team where you can invest in tourism in Turkey in line with your wishes and provide you with professional support. If you want to invest in the tourism sector in Istanbul and Antalya and you have questions in your mind, you can ask us without hesitation. We are happy to support you in all matters. For more information, you can contact us via our website or by e-mail.