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Millions of Turkish expatriates residing in Europe are returning to Türkiye for their annual summer holidays, contributing up to ₺800 billion ($19.8 billion) in annual foreign currency inflow.
According to the Confederation of Turkish Tradesmen and Craftsmen (TESK), visiting families spend an average of €15,000 ($17,443) during their stay, bringing a surge in spending that significantly stimulates the national economy.
TESK President Bendevi Palandoken said these summer visits act as a vital lifeline for the economy, especially for small businesses, Türkiye daily reported.
“They come to visit their parents, but they also shop for clothes for their children, prefer restaurants that serve traditional cuisine, and participate in family events like weddings,” he explained.
Their expenditures benefit a wide range of service providers—from taxi drivers and florists to goldsmiths, pastry shops, wedding venues, and local craftsmen. In many cases, returning citizens also renovate their homes, which drives activity in the construction and interior design sectors.
Palandoken noted that due to the euro's recent appreciation against other foreign currencies, this year’s economic impact may exceed prior years. He added that many expatriates are extending their stays, further increasing their spending.
“In addition to the economic impact, our citizens contribute socially by helping to promote Türkiye’s cultural and historical heritage,” he said.
“With at least five million citizens living and working abroad, and often bringing guests or expanded families with them, the exposure they generate enhances our country’s visibility.”
The euro gained over 12% against the U.S. dollar year-to-date as of July, with the exchange rate rising to 1.1625. Meanwhile, the euro also reached a new record high against the Turkish lira at 46.9047.
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