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Türkiye’s Bodrum Attracts Wealthy Tourists, Boosting Luxury Market

Luxury Travel and Tourism

Business Honor
21 May, 2024

Bodrum sees growing luxury tourism demand, with strong bookings and high-income visitors despite global challenges.

The luxury travel market is expected to reach $578 billion by 2028, with the country of Türkiye emerging as a key destination, particularly its popular Bodrum region. As a prime hub for high-end tourism, Bodrum has received increased attention in recent years due to investments from luxury brands across hotels, restaurants, and retail spaces.

Volkan Büyükhanlı, member of the board of directors at Büyükhanlı Kardeşler Group and investor in the Caresse, a Luxury Collection Resort & Spa, Bodrum, pointed out the resort as a one-of-a-kind all-year-round luxury destination in the region. According to him, the early booking trends for 2024 were strong, so he was very positive about the success of the summer season. However, the U.K., the U.S., Russia, and most of Europe featured on the guest list.

Biglihan emphasized that the resort became increasingly popular as a venue for destination weddings for international couples, specifically the Indians, Americans, and British. The Carresse Art projects initiated locally a year ago now received attention at the international level from art enthusiasts from all walks of life.

Despite the global challenges that are conflicts and economic slowdowns, the luxury travel market is holding up well. According to Büyükhanlı, while middle-income Russian tourists have scaled back their travel plans, high-income Russian tourists continue visiting Türkiye, taking advantage of its accessibility and luxury offerings, a shift benefiting high-end hotels like Caresse.

Göktaş, General Manager of Six Senses Kaplankaya, was also confident about 2024. "We project a revenue increase of 21%. The reason for the growth in Bodrum is that there are too few top-class resorts, the service level is superior, and this region attracts high-income tourists," he said. According to Göktaş, the visitor flow from the U.K., Germany, Russia, and the U.S. has been consistent lately.