An attempted coup on July 15-16 and crackdown after that which has so far led to more than 60,000 government workers, military personnel, teachers, and journalists being either jailed, detained, or suspended is likely to take a heavy toll on the country’s tourism. Country’s incumbent President and the leader of AKP Party Tayyip Erdogan has imposed emergency rule in Turkey. Western world and many within the Turkey accused that Erdogan is trying the coup as an excuse to cleanse the country of any opposition.
Since a Turkey’s plane has shot down a Russian plane which Russia claims was in Syria, Russia has imposed a tourism ban over Turkey. It has proved very dear so far as Russia sends the biggest number of tourists to the country. The drop in Russian Rouble also played a key role.
According to latest data available from the tourism ministry, in June 2016, the number of tourists arriving in Turkey declined by 41 percent to 2.4 million. The number of Russian tourists has declined by 88 percent. Now with the coup and crackdown, that number is likely to face a free fall as other European countries will keep warning its citizen against visiting the country.


Dollar Gains Slightly as Yen Volatility Continues After Japan Intervention
Oil Prices Ease in Asian Trade as Gulf Tensions and Hormuz Shipping Risks Weigh on Markets
Yen Stabilizes After Suspected Intervention as Global Currency Markets Stay Cautious
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Asian Stock Markets Rise Amid Wall Street Rally and U.S.-Iran Tensions
Eurozone Recession Risks Rise as Middle East Conflict Threatens Growth, ECB Official Warns
UAE Exits OAPEC Amid Shift Toward Independent Oil Strategy and Market Uncertainty
EU Warns of Response as U.S. Considers 25% Tariffs on Car Imports
Bank of Korea Signals Potential Interest Rate Hikes as Inflation Remains Elevated 



