Over 200 tourism projects granted incentives by Turkey’s Ministry of Industry & Technology

Tourism sector continues to be one of the main locomotives of the Turkish economy. In fact, about 213 tourism projects were granted incentives by Turkey’s Ministry of Industry & technology recently. The total fixed investment value of said projects was calculated at TL 3.2 billion with 132 hotel projects.

Calculations were made based on data provided by the Ministry of Industry and Technology and Association of Mediterranean Hotel Operators. Accordingly it is reported that said projects worth TL 3.2 billion cover a period of 9 months in 2018 (January-September) and are forecasted to create additional employment for 8,500 people

On the other hand it is also reported that Istanbul, Mugla and Trabzon are the provinces which were granted the most incentives by the Ministry. Antalya which is known fort he highest number of new investments did not find a place among top regions, this time. Antalya was observed to have focused on modernization investments rather than new ones.