In the first quarter of 2024, there was a 16% increase in foreign tourists and a 7% increase in spending
June 20, 2024Mastercard has released its new 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. When examining the country-based distribution of individual foreign card payments, UK-based cards topped the turnover. Egyptian-based cards broke a growth record compared to the previous year. The cities where foreigners spent the most were Istanbul, Antalya, Izmir, Ankara, and Muğla, respectively.
The pioneering global technology company in the payment systems field, Mastercard, has published its tourism trends report for the first quarter of 2024. The report, prepared based on POS spending by international cards with Mastercard and Maestro logos in Turkey and selected other countries, compares the first three-month periods of January-March in 2023 and 2024.
According to the report's results, foreign card transactions in Turkey continued to grow in the first quarter of 2024, covering the January-March period. Turnover-based growth, which was 12% in the same period of 2023, was 7%, and quantity-based growth/number of visitors, which was 1%, was 16%. When examining the country-based distribution of individual foreign card payments in Turkey, spending with UK-based cards maintained its top position, while Egyptian-based cards set a growth record compared to the previous year.
Avşar Gürdal: "We support tourism and continue to contribute to the economy with the experiences we offer to both local and foreign visitors."
Avşar Gürdal, General Manager of Mastercard Turkey and Azerbaijan, expressed that they aim to increase their contribution to the economy by supporting Turkey's tourism, saying, "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.
"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," he said.
The British Lead, Followed by the Germans
According to the report, the top five countries with the highest spending (turnover) through foreign cards in Turkey were the UK (17%), Germany (12%), the USA (6%), Saudi Arabia (5%), and the Netherlands (4%).
Saudis Spend the Most on Clothing
The report's findings indicate that restaurant expenditures saw a significant increase in the first quarter of the year compared to the same period last year, taking a share from the clothing and accommodation sectors. Saudi Arabian tourists were the top spenders on clothing and led high-volume transactions. British tourists stood out in the health/cosmetics sectors. The sector distribution based on turnover for the January-March 2024 period was as follows: clothing (17%), health (14%), grocery (14%), restaurants (13%), and accommodation (12%). The city distribution based on turnover was recorded as Istanbul (57%), Antalya (15%), Izmir (4%), Ankara (2%), Muğla (2%), and others (19%).
Jewelry Stands Out in Izmir
British tourists made the most restaurant expenditures in Istanbul (21%), while Dutch tourists spent the most on clothing in Antalya (16%). German tourists focused on restaurants (18%), clothing (16%), and health/cosmetics (13%) sectors in major cities. In Istanbul, American tourists were inclined towards jewelry (15%). Spending with US-based cards remained steady in Istanbul at 75%, with jewelry being the sector where they spent the most (15%).
Other Key Findings from the Report Summarized:
- Saudi Arabian Tourists: Leading in high-volume transactions, with the highest spending on clothing (36%).
- Dutch Tourists: Made the most restaurant expenditures in Istanbul (21%) and Izmir (18%), while focusing on clothing in Antalya (16%) and Ankara (19%).
- United Arab Emirates Tourists: In Istanbul, their spending was primarily on clothing (38%), accommodation (12%), and restaurants (11%).
- Ukrainian Tourists: Spent the most on clothing in Istanbul (24%) and Izmir (13%), with grocery shopping also significant in Izmir. There was an increase in fuel expenditures in Edirne.
- Azerbaijani Tourists: Increased their spending on clothing and health/cosmetics in Istanbul and Ankara.
- Bulgarian Tourists: Prominent in the Marmara Region for their spending on health/cosmetics, groceries, and clothing.
- Swiss Visitors: Increased their expenditures in Izmir and Muğla, with a notable rise in spending on construction materials in Muğla.
*Cash withdrawals and card purchases made over the internet are excluded from the scope.
About Mastercard www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
