Turkey announced today a support package for the tourism industry and their suppliers in order to give them a hand amid the pandemic.
The 10 billion TL package includes 80% guaranteed bank loans with low interest ratio and up to one year ‘no pay back’ option.
The program aims to support travel industry with their fixed expenses and cash flow, especially the salary and rent payments during the covid-19 crisis.
Turkey’s tourism revenue was around $35 Billion in 2019 and it’s expected to close 2020 with around $11 Billion after covid-19 hit the industry globally.
