Foreign arrivals rise 7.7 pct in November
Bloomberg
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Turkey needs revenue from tourism to help finance its current-account deficit. The global credit crisis threatens to restrict the flow of investment to Turkey and curb exports.
The country earned $18.5 billion from tourism in 2007, 9.5 percent more than the year before.
The current account deficit narrowed in October, as a weaker currency cuts demand for imports. The deficit contracted to $2.6 billion from $3.25 billion in October 2007, according to data from the Central Bank. The U.S. dollar gained nearly 30 percent against the Turkish lira, or YTL, since the start of the year.
