Tourism boom boosts Türkiye's economy
Türkiye’s current account moved into surplus for the first time in nearly two years, as a boom in tourism and a lower energy import bill helped ease pressures on the economy during a shift in domestic policies, Bloomberg reported.
Tourism boom boosts Türkiye's economy
The Economics of Geography

Tourism boom boosts Türkiye's economy

Photo: AFP/Anadolu Agency/Ali Balli
Eurasia 23/08/2023 07:00

Türkiye’s current account moved into surplus for the first time in nearly two years, as a boom in tourism and a lower energy import bill helped ease pressures on the economy during a shift in domestic policies, Bloomberg reported.

The broadest measure of trade and investment flows with the outside world had a surplus of $674 million in June, according to data published by the central bank on Friday. Türkiye’s current-account balance was last in the black in October 2021, according to the news agency.

The swing from deficit was sharper than forecast but may prove hard to sustain if purchases of goods from abroad remain strong in an economy long hobbled by trade imbalances. The improvement in imports has so far been relatively meager, according to Istanbul-based economist Haluk Burumcekci.
Photo: AFP/Anadolu Agency/Osman Uras 
#Türkiye #tourism
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The beneficiaries are mainly Central and Eastern European countries. There was an immediate increase in interest in trips to China.

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