Because of the crisis in relations with Russia and an aggravation of security conditions on the Turkish coast, about 1,300 hotels on the Aegean and Mediterranean Sea coasts are being put on sale.
The local press is stressing that the tourist industry is surviving one of its worst crises. The tourist flow from the RF and EU has decreased sharply, but bank credits must still be repaid.
The total cost of the hotels is $10 bln. They are designed for 153,000 people. The worst hit area is the Russia-oriented market of Antalia, where about 410 hotels are being sold, including 120 5-stars.
They have been closed for several months, and their owners have gone bankrupt.
To remind you, on November 24th, 2015, a Turkish F-15 shot down a Russian Su-24 over Syria. The Russian pilot parachuting down was then shot in the air. President Putin called this, “a stab in the back delivered by accomplices of the terrorists”, and signed an Order on measures of national security provision and special economic measures against Turkey.