The international travel and tourism sector continues to see a robust recovery following the Covid-19 pandemic. Mastercard has released its tourism trends report for the first quarter of 2024, highlighting significant growth in Turkey. The report, based on POS spending by international cards with Mastercard and Maestro logos, compares the first three months of 2023 and 2024.
According to the report, foreign card transactions in Turkey have continued to grow in Q1 2024. The turnover growth, which stood at 12% during the same period in 2023, was 7% this year. Meanwhile, the growth in the number of visitors, which was 1% last year, surged to 16%. When examining the country-based distribution of individual foreign card payments in Turkey, spending with UK-based cards retained the top position, while Egyptian-based cards showed a record increase compared to the previous year.
Avşar Gürdal, General Manager of Mastercard Turkey and Azerbaijan, stated, “Our country’s value propositions in the field of tourism are becoming richer day by day. The appeal in many areas, from history and culture to art, gastronomy, and travel, makes it stand out as a destination. As Mastercard, with the unique experiences we offer to both local and international visitors, we aim to reinforce our country’s position as one of the most popular tourist destinations.”
The British lead, followed by the Germans “In this context, through our global Priceless Platform, we transform the values of our country into experiences and promote Turkey’s destinations to both local and foreign tourists through these experiences. According to our latest tourism trends report, foreign card transactions in Turkey grew by 7% in turnover and 16% in quantity in the first quarter of 2024 compared to the same period of the previous year. These increases in visitors and spending reflect the short-term and long-term positive impacts of our investments and innovative strategies in the sector. With these data and developments, we will continue to support our country’s economy through our investments and innovations in the tourism sector.”
The report further highlights that the top five countries with the highest spending (turnover) through foreign cards in Turkey were the UK (17%), Germany (12%), the US (6%), Saudi Arabia (5%), and the Netherlands (4%).
Mastercard’s findings underscore the ongoing recovery and growth of Turkey’s tourism sector. The significant increase in both the number of visitors and their spending is a testament to the country’s increasing appeal as a travel destination. These trends not only boost the tourism industry but also positively impact the broader economy.
Gürdal concluded, “The data from the first quarter of 2024 is encouraging. Our strategic investments and innovative approaches in the tourism sector are yielding positive results. We remain committed to enhancing Turkey’s position on the global tourism map and will continue to support our economy through targeted initiatives and partnerships.”
In summary, Mastercard’s Q1 2024 tourism report paints a positive picture of Turkey’s tourism sector, showcasing significant growth in foreign tourist numbers and spending. This trend is expected to continue as the country enhances its appeal to international visitors through strategic initiatives and innovative experiences.
Source: Electronic Payments International
