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Turkey’s Cruise Industry Set for Record Growth in 2025

Turkey’s cruise industry, valued at $3 billion in 2023, is poised for significant growth in 2025, fueled by new winter cruises and the ongoing geopolitical instability affecting other eastern Mediterranean destinations. Cruise ship traffic plays a crucial role in the revenue of Turkish port operators, such as Global Ports Holding, and the wider tourism sector.

Global Ports Holding anticipates a 25% increase in cruise ship arrivals this year, with the number of ships docking in Turkish ports rising from 1,200 in 2024 to 1,500 in 2025. The number of passengers is also expected to grow by about 20%, reaching 2.3 million. Aziz Güngör, the company’s regional director for the eastern Mediterranean, highlighted that despite regional geopolitical tensions, Turkish ports have seen strong cruise traffic, with some ships rerouted to Turkey as alternatives to destinations affected by conflict in the Middle East.

One of Turkey’s busiest cruise ports, Galataport in Istanbul, is forecast to see a rise in cruise ship calls this year, expecting 225 ships and nearly 600,000 passengers, up from 164 ship calls and 400,000 passengers last year. This growth is partly due to the introduction of winter cruises to the city.

Meanwhile, at Kusadasi, Turkey’s busiest cruise port, Global Ports is targeting 630 ship calls and 950,000 passengers in 2025, an increase from 500 ships and 800,000 passengers the previous year. Kusadasi, located opposite the Greek island of Samos, continues to be a popular stop for cruise ships.

The cruise industry remains a vital income stream for Turkish ports, contributing significantly to local economies. On average, each cruise passenger generates around $2,000 in revenue for operators. The sector also supports job creation in various industries, including port operations, tourism, hospitality, and retail.

In 2023, Turkey’s ports earned an equal amount—$3 billion—each from both cargo and cruise traffic, emphasizing the critical role of the cruise sector in the country’s economy.

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Stock Markets Rally Amid Positive Inflation Reports

Global stock markets saw a strong rally today following the release of optimistic inflation data. The latest reports indicate a slowdown in price increases, fueling investor confidence and raising hopes of a more stable economic outlook. Analysts suggest that central banks may reconsider aggressive interest rate hikes, further boosting market optimism.

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