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To: nathanbedford; All

Your friend is mistaken. The Turkish economy does not depend on tourism. The income from tourism is a “nice to have” for the general economy. The local tradesmen have obviously been hit by the drop in tourists coming in but the rest of the country has not been effected. Economic factors have nothing to do with timing of the coup attempt.


47 posted on 08/05/2016 7:52:20 AM PDT by CTurk (Gulen, Charter School, FBI)
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To: CTurk
Another article which I referred to from the same source, Asia Times , does not agree with your conclusion:

A quick look at the country’s balance of payments clearly shows how much Turkish economy is dependent on tourism.

According to the Turkish Central Bank’s balance of payments data for 2015, there was a $47.8 billion deficit in the trade of goods, whereas the trade in services generated a surplus of $24.0 billion, with a massive 88.7% of this corresponding to the trade surplus created by the tourism industry.

At the same time, tourism is also one of the largest providers of livelihood in the economy. More than one million registered workers are employed by the industry, and to this figure one should add the large amounts of part-time employees, seasonal workers, and their dependents as well.

Turkish media reports that 1,300 hotels around the country have been put up for sale by their owners, who were already dealing with mounting debts, and now losing any hope for a way out of the situation, given the rapidly deteriorating conditions in the industry after the Russian sanctions and terrorist attacks.


48 posted on 08/05/2016 9:23:46 AM PDT by nathanbedford (wearing a zot as a battlefield promotion in the war for truth)
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