What is Qurban Bayram?

Qurban Bayram, also known as Eid al-Adha, is one of the biggest holidays in the Islamic calendar, celebrated by millions of Muslims worldwide. This four-day holiday is set to commence on June 28 and last through July 1, but Türkiye has extended the holiday to cover nine days from June 24 through July 2.

The Impact on Türkiye’s Economy

The Qurban Bayram holiday is expected to boost consumer spending and prompt a massive movement across the country as millions hit the road for their hometowns or vacation resorts. Despite soaring costs, Turkish traders are optimistic about the shopping spree that accompanies the holiday. Retail businesses usually witness a notable upswing as consumers eagerly embrace the occasion to purchase food, gifts, and clothing.

According to Bendevi Palandöken, the head of the Confederation of Turkish Tradesmen and Craftsmen (TESK), “Approximately TL 90-TL 100 billion ($3.81-$4.23 billion) is expected to be injected into the market with expenditures this holiday.” The fact that the feast coincides with the summer break adds to the optimism, as Palandöken said, “we predict there will be a movement in every sector.”

The Impact on Tourism

The tourism sector is also expected to witness a resurgence as millions embark on journeys to reunite with family and friends or explore popular holiday destinations, leading to a surge in hotel bookings and restaurant reservations. The travel drive weighs on transportation networks, as airports, train stations, and bus terminals witness a significant surge in passenger traffic, with airlines and other travel service providers adding extra flights and services to accommodate the increased demand.

An average of 800,000 people are expected to be transported each day during the holiday, according to Bus Driver Federation Chair Mustafa Yıldırım. “We anticipate an average of 800,000 passengers per day during the Qurban Bayram holiday, and approximately 8 million people will be served in 10 days,” noted Yıldırım. About 350 companies in Türkiye are operating in the sector for providing services with 8,500 buses.

Measures Taken by the Government

Transport and Infrastructure Minister Abdulkadir Uraloğlu has stated that measures have been taken against any rush that may occur in the transport sector during the holiday. “Our citizens can be assured that we will be on alert with all our teams on the rail, air, land, and sea routes during the bayram period,” said Uraloğlu.

The Future of Türkiye’s Economy

Güneş Aysun, head of the All Yacht Operators, Investors, Brokers, and Agents Association, said the tourism season had already intensified. Aysun expressed that they expect a big increase in both domestic and foreign tourists during the holiday. Palandöken stated that mobility before the bayram was encouraging, emphasizing that increased spending was revitalizing markets.

Consumers have been plagued by stubborn inflation that undermined their purchasing power. The annual inflation has eased since the beginning of the year, further easing to below 40% in May, which marked a notable regress after touching a 24-year high of 85.5% last October.