Turkey Tourism Recovery Hurt by Russia Invasion of Ukraine

Around 4.5 million Russian and two million Ukrainian tourists descended on Turkey last year. (AFP)
Around 4.5 million Russian and two million Ukrainian tourists descended on Turkey last year. (AFP)
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Turkey Tourism Recovery Hurt by Russia Invasion of Ukraine

Around 4.5 million Russian and two million Ukrainian tourists descended on Turkey last year. (AFP)
Around 4.5 million Russian and two million Ukrainian tourists descended on Turkey last year. (AFP)

Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are empty tables on his terrace at his restaurant by the Blue Mosque.

"On a day like this, we should be full," the owner of Serbethane restaurant said in the city's historic district.

Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips, disastrous for Turkey where tourism represented 10 percent of GDP before the pandemic.

There had been high hopes for a tourism revival in 2022 and the sector was in desperate need of a boost after the Turkish lira lost significant value last year and inflation soared to over 50 percent in February.

Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, usually opting for the turquoise beaches on the Mediterranean and Aegean, according to tourism ministry figures.

"Russia and Ukraine are very important markets for us," Hamit Kuk of the Association of Turkish Travel Agencies (TURSAB) said.

Around 4.5 million Russian and two million Ukrainian tourists descended on Turkey last year.

TURSAB expected seven million Russians and 2.5 million Ukrainians this year, but Kuk said it would "likely have to review these figures".

"The war between Russia and Ukraine is making everyone nervous here. Both from a human and commercial point of view," Kuk said.

"Normally, there would be a rush of summer reservations in March. But the demand has stopped," he added.

Sanctions pain

"If it goes on like this, there will be a very serious problem," warned TURSAB president Firuz Ballikaya.

"We try to wait as calmly as we can."

In front of the Hagia Sophia mosque, Russian tourists were rushing to follow their guide, ducking their heads and refusing interviews.

There were even a few Ukrainians, including a young couple from Kyiv who "arrived as tourists and became refugees" and who were now tearfully looking to leave for a third country.

"Maybe the United States?" they asked, wishing to remain anonymous.

The situation is tricky for Turkish travel agents like Ismail Yitmen because of Western sanctions against Russia.

In his office opposite the Hagia Sophia, Yitmen despaired.

"Travel agencies like mine working with Russia are really suffering right now. Taking into account the deposit amount I have paid for hotels, my loss is more than 11,000 euros ($12,000) so far," he said.

If more groups cancel, he could lose between $65,000 and 76,000.

"A group was supposed to arrive in Turkey in two months, but we couldn't receive the money, so it's cancelled. It's because they stopped SWIFT transfers. We had already paid for the hotels."

Several Russian banks were cut off from the SWIFT messaging system, which allows banks to communicate rapidly and securely over transactions.

Despite being a NATO member, Ankara did not sanction Russia and unlike many other countries, Turkey has not closed its airspace to Russian planes.

Safety fears

Before the coronavirus pandemic, the tourism sector was recovering after multiple terror attacks in 2015 and 2016 scared tourists away.

On the edge of the Middle East, the country had suffered in the few years from the impact of wars in Syria and Iraq, both on its southeastern border.

"When the war started in Iraq and then in Syria, European and American tourists stopped coming. They thought we were too near," said Hassan Duzen, sitting with his friends at the back of his deserted carpet shop.

He was convinced the same thing would happen after the invasion.

"When they look at a map, they will see the Black Sea and think we are very close," Duzen lamented. "Why would they take a risk?"

The Ukrainian couple had the same fears.

"We can't stay here, this place isn't safe, it's too close. Their missiles can hit you," the young man said, his eyes clouded with anxiety.



Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.


Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 


Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.