Kaan Kavaloğlu: Our turnover is increasing, our profitability is declining

Kaan Kavaloğlu , President of the Mediterranean Touristic Hoteliers and Operators Association (AKTOB) , made evaluations regarding the latest situation in the sector.

Kaan Kavaloğlu stated that despite the record number of tourists breaking in 2024, the expected profitability could not be achieved due to the suppressed exchange rate, and noted that although they increased prices by double digits in the 2023-24 season, they did not have such a chance for the 2024-25 season and could only increase prices by 7-9 percent. AKTOB President noted that turnover increased due to suppressed exchange rates, but profitability declined .

Kavaloğlu , who noted that tourism professionals can only endure June with the current exchange rates, said that there is no need for exchange rates to increase in an environment where there is no inflation, but that it is difficult for foreign exchange to remain constant in a high inflation environment. Kavaloğlu emphasized that the exchange rate should currently be at the 45-50 lira level.

Stating that 2023 will be the year of post-pandemic response travels and 2024 the year of normalization, Kaan Kavaloğlu noted that 2025 will be a year of slow and steady growth amid differentiation, challenges and change.

Kaan Kavaloğlu, who stated that research indicates high single-digit revenue growth in tourism for 2025, said, "In a world where global growth is stagnant, this still makes travel a growing sector with "high added value to GDP ". In a more competitive travel environment, online travel is back in the driver's seat as the fastest growing main sector. While hotels and airlines continue to stabilize, short-term rentals are adapting to the post-pandemic period."