Turkish Economy
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Growth in the Turkish Economy

The Turkish economy grows by 7.6% during the second quarter of 2022

After the economic decline that Turkey faced during the last period, which was a major cause of the Corona pandemic; the Turkish economy grows by 7.6% during the second quarter of 2022 according to data published by the Turkish Statistics Authority.

The authority also indicated that the GDP estimate at current prices increased by 11.6 percent in the second quarter of 2022 compared to the same period in 2021, reaching 3 trillion, 418 billion, and 976 million Turkish liras (3.418.976,000,000).

Expectations for growth in the Turkish Economy

Economists had previously expected that the growth of the Turkish economy during the second quarter of 2022 would reach 7.3%.

In turn, the Turkish Treasury Minister said that his country is the second largest growing country among the countries of the Organization for Economic Cooperation and Development and the Group of Twenty during the second quarter.

Tourism recovery in Turkey during the past 7 months of 2022

Turkey witnessed a great recovery in the tourism season, and according to the data of the Ministry of Culture and Tourism, the country received 23 million and 30 thousand and 209 foreign tourists (23,030,209) during the first seven months of this year.

In addition, the Turkish Minister of Culture and Tourism Mehmet Nuri Ersoy said that his country received about 150,000 tourists per day in May and that it aims to receive 42 million (42,000,000) tourists by the end of  2022.

Ersoy also pointed out that tourists can find tourist, historical and natural attractions in all 81 Turkish states.

He stated that the Turkish Ministry of Culture and Tourism has recently intensified its incentives to hold festivals, pointing to the establishment of thousands of artistic activities in this context.

In July alone, 6,665,129 foreign tourists visited Turkey, an increase of 52.84% compared to the same month last year.