Expats inject vital cash into economy during summer visits

ISTANBUL

Türkiye is experiencing a seasonal economic boost as thousands of expatriate citizens return for summer holidays, bringing with them significant foreign currency inflows.

According to Bendevi Palandöken, president of the Confederation of Turkish Tradesmen and Craftsmen (TESK), this annual homecoming provides essential relief to local markets, generating an estimated 700–800 billion Turkish Liras in economic impact.

“Turkish nationals working abroad contribute to our economy not only by earning abroad but by spending generously during their summer visits,” said Palandöken.

With the euro and other foreign currencies trading at stronger rates, expectations are high for a profitable season across small businesses, he added.

Palandöken estimates that each family spends an average of 15,000 euros during their stay, covering a wide range of purchases —clothing for children, meals at restaurants offering traditional flavors, wedding-related expenses like gold purchases and event planning.

“This spending revives nearly every sector — from florists and confectioners to taxi drivers and wedding venues,” he added.

In addition to everyday consumption, returning expats also invest in home renovation, repairs and architectural upgrades, contributing to growth in the construction and interior design industries.

Palandöken emphasized the importance of this cycle: “Every year, this seasonal mobility reenergizes tradespeople and the broader economy.”