(MENAFN) Hotel investments in Turkey plummeted by 42pct through the first three months of the year from last year's corresponding timeframe, based on reports.
According to the latest released data, subsidy documents worth a total of 645.3 million Turkish Liras were obtained for the founding of 53 new hotel schemes in 27 cities.
In March, subsidy documents were taken for 25 new hotel projects in 17 cities as well as 3 hotel renovation projects; hence this was 46pct lower than the amount posted in 2015's March.
All in all, the nation's tourism segment has been experiencing a hampering difficult period, and these issues negatively affected a total of 54 sectors directly or indirectly.
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