Free Trial

Analysts Warn Ukraine Crisis Will Have a Severe Effect on Turkey's 2022 Tourist Season



  • Analysts warn that the Ukraine crisis will have a marked effect on Turkey’s tourism season in 2022, with the countries comprising over 25% of tourists in 2021 (4.5m Russians & 2m Ukrainians).
    • Prior estimates of $35bn in revenue for the 2022 year now look optimistic – adding risks to downside pressure on the current account and the need to use more international reserves. – Ahval
  • Expert warns of a potential food crisis in Turkey, saying that it will not be limited to sunflower oil unless measures are taken.
    • A total of 18 Turkish commercial vessels have been waiting at the Don River and the Russian ports at the Sea of Azov, with many calling for Russia to release cargo ships in the area.
    • Agricultural engineers have questioned government’s statement that ‘sunflower oil stocks are sufficient’, asking why is it trying to be imported with zero customs duty if supply is enough - bbg
  • Greek PM set to visit Turkey on 13 March to hold talks with Erdogan amid tensions over the militarised status of a number of islets in the Aegean – Hurriyet Daily
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.