The war in Ukraine impacts Turkish yacht tourism

The Russia-Ukraine war is having a big impact on Turkish yacht tourism, as Ukrainian and Russian tourists play a significant role in the country’s bareboat charter market. Many charter firms now expect a shorter season due to the absence of Ukrainian and Russian tourists – from 18 to just 15 weeks.

Bareboat charter firms in Turkey are reporting cancellations of around 60% from Russians and Ukrainians for the coming summer season and have refunded money to all Ukrainian tourists. Russian reservations, however, are being postponed to 2023 instead. Turkey is one of the few countries to still accept direct flights from Russia. Many charter firms say they are expecting more domestic tourists this year and also mention that bookings from Germany and the UK are increasing. However, bareboat charter bookings from locals do not exceed 15% of the total.

In the context of Turkey and the Russian-Ukrainian conflict and sanctions seizing expensive superyachts from Russian oligarchs, the IBI says billionaire businessman Roman Abramovich expelled one of two superyachts anchored in Turkey and is now reportedly sailing the Aegean Sea. After the West imposed sanctions on Russia and its oligarchs, Abramovich began an elaborate chess game of moving his multibillion-dollar fleet of jets and yachts to different locations in friendly nations including Dubai, Israel, Turkey and Russia.

NATO member Turkey has close ties to both Russia and Ukraine. It has criticised Moscow’s invasion of Ukraine but also positioned itself as a neutral party trying to mediate between the two. Turkey has closed the Turkish Straits connecting the Black Sea to the Mediterranean Sea to most Russian warships but has not imposed sanctions on Russia or shut down its airspace to Russian flights.

Source: IBI News