Monday, August 19, 2024 Turkey is swiftly climbing the ranks in Europe’s hotel industry, reflecting its growing influence in global tourism. The country’s strategic positioning in the European market is underscored by its recent achievements in the hospitality sector, with Istanbul leading the way as one of the continent’s most active cities for new hotel projects. This upward trajectory is expected to have far-reaching implications, not only for Türkiye’s domestic tourism industry but also for the global travel landscape.
Significant Growth in Hotel Projects: The latest data from the Lodging Econometrics (LE) 2024 Q2 European Hotel Construction Investment Trend Report reveals that Türkiye has secured the 4th position among European countries for new hotel investments. As of the first half of 2024, Europe is witnessing a surge in hotel development, with 418 new projects accounting for a combined capacity of 64,835 rooms. Among these, the United Kingdom tops the list with 306 projects, followed by Germany with 178 projects, and France with 120.
Türkiye closely follows with 117 projects, reflecting its dynamic growth and increasing prominence in the European hospitality industry. Istanbul, Türkiye’s most vibrant city, stands out with 50 new hotel projects, making it the 2nd most active city in Europe, just behind London, which has 76 projects. This surge in hotel construction highlights Istanbul’s strategic importance as a hub for tourism and its growing app.