According to a study by MasterCard Worldwide Index in world tourist destination, tourism revenues in 2011 will grow fastest in Istanbul among some 132 cities over the globe, surpassing even New York and Amsterdam in terms of number of visitors, according to research. Forecast for revenues stands at $10.2 billion
Istanbul will top the list of 132 cities whose tourism income will grow the fastest in 2011, expanding at 30.1 percent and reaching a level of $10.2 billion, according to a city index developed by MasterCard Worldwide.
The city’s tourism income will increase by 30.1 percent this year, according to the MasterCard Target Cities Index that was published on Saturday. In terms of tourism income growth rates, Istanbul is followed by Barcelona, Dubai, Singapore and Hong Kong. The index analyzes world renowned cities’ potential in tourism and tourism expenditures, including the increase in the number of visitors and in their expenditures in some 132 cities.
The income generated from Istanbul’s tourism by the end of the year will be $10.2 billion, according to the index that ranks the city in 12th place. London is expected to earn the largest tourism income in 2011 worth $25.6 billion. It is followed by New York, Paris, Bangkok and Frankfurt with $20.3, $14.6, $14.4 and $14 billion in revenue respectively.
The index predicts the total number of foreign tourists visiting Istanbul in 2011 to reach 9.4 million, ahead of cities such as New York, Rome, Amsterdam and Milan.
Istanbul is a city on the rise due to its strategic geographic position between Europe and Asia, its rich history and cultural heritage, according to Yuwa Hedrick-Wong, one of the economic advisers of MasterCard Worldwide Global.