The Wall Street Journal has covered the current state of tourism in Turkey. According to The Wall Street Journal, bookings for this summer are down 40%. Hotel reservations have dropped twice and several hotels are on sale.

“Tourism revenues tripled between 2001 and 2014, reaching a record $34.3 billion. But after the downing by the Turkish F-16 jet of the Russian SU-24 plane on 24 November 2015, tourism indicators started to drop.

President of Russia Vladimir Putin hit back with a trade embargo, and several terrorist acts taking place in different cities hurt Turkey’s reputation” writes The Wall Street Journal, reports ermenihaber.am.

According to the official information released in the American newspaper, the tourism industry accounts for more than 4% of Turkey’s gross domestic product and employs more than one million people, or about 7% of the working population.