As the cost of living in Europe rises, Turkey will become the preferred destination for European tourists on a budget this year, according to GlobalData.

The London-based company’s study comes at a time when the ongoing conflict between Russia and Ukraine is raising fears from the local tourism industry that tourism from the two main markets for the Turkish tourism industry could dwindle this year.

Turkey’s market position is likely to strengthen due to current consumer sentiment, said Craig Bradley, travel and tourism analyst at GlobalData.

“In a global consumer survey conducted by GlobalData in the third quarter of 2021, 58% of respondents said cost is a key factor influencing travel bookings,” he added.

Many travelers will feel financial hardship this year due to the soaring cost of living as well as high fuel and energy prices, Bradley said, and those who usually prefer to vacation in countries like Spain, Portugal and France may year to switch to a more affordable vacation in Turkey.

The study shows that tourist spending in Turkey is relatively low, despite the fact that the average length of stay of holidaymakers – 9.7 days – became the second in Europe in 2021.

The data showed that compared to average entry costs in popular holiday destinations such as Spain and Portugal, travelers could potentially save between $230 and $770 per trip by traveling to Turkey instead of those destinations.

According to GlobalData, tourists can now forgo a more expensive vacation in Western Europe for a sunny holiday in one of Turkey’s many resorts such as Antalya, Dalaman or Marmaris.