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The residential property price index rose 27.3% y/y in September. In real terms, the rise in property prices was 14% y/y.
8.1.5 Tourism sector news
Only 1.7mn foreign holidaymakers visited Turkey in October, marking a 59.4% decline from a year earlier, data from the country’s Tourism Ministry showed.
The drop followed the 59.4% y/y decline in September and the 71% y/y decrease in August.
Between August and October, Turkey hosted 5.7mn international tourists, up from the meagre 50,000 in April to May.
However, in the first 10 months of 2020, the overall number of foreign tourists visiting Turkey declined by some 73% y/y to 11.2mn.
Russians accounted for some 17.1% or nearly 1.91mn of the visitors, followed by Germans at 9.26% (1.03mn), and Bulgarians at 8.9% (997,470).
In 2019, more than 45mn foreign arrivals were recorded, up from nearly 39.5mn in 2018.
The hotel occupancy rate across Turkey was 35.4% in January-September, down 47.8% from the same period last year, the Turkish Hotel Association, TUROB, reported.
The occupancy rate declined to 39.6% in September from 44.9% in the same month of 2019.
The average daily rate (ADR) rose 4.8% to €87.2 ($101.7), and the revenue per available room (RevPAR) was down 36.8% to €39.1 ($46.2) in September.
8.1.6 Metallurgy & mining sector news
Turkey's crude steel production increased by 2.6% to reach 25.9mn tonnes in the first nine months, the Turkish Steel Producers' Association (TCUD) said.
Turkey thus became the largest crude steel producer in Europe and the seventh largest in the world, overtaking Germany, according to the association.
The country’s revenues from steel exports, however, plunged 14.7% y/y in January-September to $10.4bn while its steel imports dropped nearly 5% y/y to $7.2bn.
In September alone, Turkey’s crude steel production increased by 18% to stand at 3.2mn tonnes.
In the month, the country raised $1.3bn by exporting 1.9mn tonnes of crude steel. Export revenues declined by 3.9% y/y in September.
8.1.7 Other sector news
Turkey's healthcare expenditure increased by 21.7% y/y in 2019 to reach Turkish lira (TRY) 201.3bn ($35.4bn), the country's statistical office, TUIK said.
Government expenditure on healthcare amounted to TRY157bn, or 78%, of all expenditure, while the private sector’s share was TRY44.2bn, or 22%.
Out of pocket healthcare expenditure made by households, such as on
49 TURKEY Country Report December 2020 www.intellinews.com
