Tourism Investment and Incentives

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The Ministry Of Economy issued investment incentive certificates for 305 projects consisting, “complex new hotel investment, modernization and student dormitory” investments under the title of tourism sector last year

According to the Ministry of Economy data, investment incetive certificates has been decided to be done for 305 projects in 2016. It is anticipated that about 13.500 people will be employed when the related projects with fixed investments totaling approximately 4.6 billion TL are completed.

187 of the projects were new hotel investments and the rest of them were hotel, tourism facility modernization and student dormitory investments. The total investment that has been planned for the new hotel projects reached almost 3 billion TL.

tourism-investment-and-incentives

In the January – December period of 2016 187 “Incentive Certificates” has been given to 5-star hotels, 4-star hotels, 3-star hotels, 2-star hotels, botuique hotels, apart hotels, thermal hotels, holiday villages and private accomodation facilities.

Istanbul was the city with the most incentive certificate for the number of projects in new hotel investments. In 2016, 32 incentive certificates were issued for investment in new hotels in Istanbul, 19 in Muğla, 17 in Antalya and 10 in İzmir.

Antalya, which took its first place in hotel investments in the previous years, has attrected attention with more modernization investment incentives recently. Accordint to the application, incentives such as “VAT exemption, tax reduction rate, interest support, insurance bonus support for the employer, investment siteinsurance” will be given to the mentioned investment projects.

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