April 27, 2011

Istanbul’s Shopping Fest Ends, Next Year on the Table

The 40-day Istanbul Shopping Festival, or ISF, which revealed great amounts of shopping and attracted a high number of tourists, ended Tuesday. The sales during the festival are expected to be announced next week, but the ups and downs of the event have already begun to be discussed.

“The glass is more than half full,” Yılmaz Yılmaz, co-chairman of the shopping festival and chairman of United Brands Association, or BMD, told the Hürriyet Daily News & Economic Review on Tuesday. “There is a serious increase especially in the foreign trade.”

“With occupancy rates above 95 percent in hotels in Istanbul despite some price hikes, we can see how much the festival attracted tourists to Istanbul,” he said. “But we will be able to see the positive impact of the festival on foreign trade and the whole picture more clearly when the data concerning the turnover and expenses made during the festival are announced next week,” he said.


Post a Comment