İTO chief warns over consumer imports surpassing investment goods

ISTANBUL

Istanbul Chamber of Commerce (İTO) President Şekib Avdagiç has warned that for the first time in 2024 and 2025, imports of consumer goods have exceeded imports of investment goods.

“We need to restore this balance to a healthy level,” he said.

Avdagiç pointed to three main factors driving consumer imports: High interest returns, the lack of a clear distinction between growth in commercial loans and consumer loans and suppressed foreign exchange rates making imports more attractive.

“For the first time, we are seeing consumer goods imports outpace investment goods. This reversal is not a healthy indicator,” he stressed.

Turning to tourism, Avdagiç said geopolitical tensions in the region have affected the sector, with Istanbul hotels seeing occupancy rates drop by around 10–12 percent.
Still, he underlined Istanbul’s advantage over other Turkish cities, with a bed capacity of about 270,000 and year-round activity.

Avdagiç explained that İTO contributes to Istanbul’s tourism through several initiatives, including the Tourism Development and Education Foundation (TÜGEV) and its affiliate, the Istanbul Convention and Visitors Bureau (ICVB), which work to increase the number of international congresses hosted in the city.

“We have already secured major congresses with capacities of up to 8,000 participants for this year and the next three years,” he said.

He added that visa difficulties faced by citizens of North Africa, Central Europe, Turkic states and the Middle East in obtaining entry to Europe have made many fairs in Istanbul more attractive.