Türkiye increasing share in luxury tourism

Duygu Erdoğan – ISTANBUL

As the global travel market prepares for new records throughout 2024 following the coronavirus pandemic, the luxury tourism sector is also experiencing growth.

The luxury travel market is expected to reach a size of $578 billion by 2028.

Türkiye has been attracting attention with its increasing share in recent years, and this year, it is once again on the radar of the world's jet set, especially with Bodrum. This demand is supported by investments made by high-end brands in tourism centers, such as hotels, restaurants, and stores.

Volkan Büyükhanlı, a board member of Büyükhanlı Kardeşler Group, the investor of Caresse, a Luxury Collection Resort & Spa, Bodrum, stated that they are positioned as the only year-round luxury resort in the region.

He mentioned that considering the first five months of 2024, they anticipate a very successful summer season.

"Based on the reservations we have received this season, we can say that the prominent countries are the U.K., the U.S., Russia and Europe,” Büyükhanlı said.

“Our hotel, which is among the favorite venues for Turkish weddings, also hosts Indian, American and British destination weddings, which are a major trend worldwide. Additionally, our Carresse Art project, which started nationally last year, has become an international art project this year, attracting many art-enthusiast guests to our hotel."

According to Büyükhanlı, global conflicts and the economic downturn are negatively affecting the tourism sector, which is the most vulnerable sector. However, he said that demand in the luxury market continues to increase, contrary to this general trend, citing Russia as an example.

"While middle-income Russian tourists have had to postpone their travel plans or choose domestic destinations within Russia, high-income tourists have been almost unaffected,” he said.

“Russian tourists who are unable to travel to world-famous popular destinations have come to Türkiye, the most accessible country for them. This situation has provided a significant benefit to upper-segment hotels like ours during the crisis period."

Can Göktaş, general manager of Six Senses Kaplankaya, stated that they expect a 21 percent growth in their revenue in 2024.

"The Aegean Region, particularly Bodrum, is a preferred destination due to the presence of luxurious international resort establishments, the preference for high-end international food and beverage establishments, and the high quality of service provided,” Göktaş added.

“With the addition of quality establishments and high service quality every year, Bodrum has now become a brand and one of the most popular destinations for upper-income tourists. Additionally, the ease of access to the airport is a prominent factor in tourists' preferences."

Göktaş noted that they expect the demand from the U.K., Germany and Russia, as well as from European countries and the U.S. in general, to continue increasing for their facility.