Mega port project Galataport expects to welcome over 2 million cruise tourists to Istanbul

Travel and Tour World | May 14, 2019

Istanbul’s mega port project Galataport, which is now under construction, is expected to revive the cruise tourism of Turkey. The Culture and Tourism Ministry of Turkey forecast that Galataport will host around 500 cruise ships with an average of 4,000 passengers each, likely reaching 2 million people, but with staff and crew of the ships, it is expected to be even higher.In a statement to the press following his on-site examination of the Galataport Project, Culture and Tourism Minister Mehmet Ersoy stressed that Galataport, scheduled to open in March 2020, will be one of the largest cruise port of Istanbul and whole Turkey. Mehmet Ersoy said that the whole project would be inaugurated at the end of 2020, that three large ships could dock at the Karaköy port at the same time and that an increase in future cruise bookings was already evident.

Spotlight

Some companies make no effort at all to recover their VAT. But even those who think they’re reclaiming VAT may in reality only be recovering a small proportion of it. There are several reasons why companies fail to recover part or all of their foreign VAT. The main culprit a very confusing bureaucratic process. The end result is businesses are leaving large sums of money on the table. We estimate conservatively that a company which spends €5 million per year on foreign travel could easily be losing €300,000 if it fails to go after its VAT which is exactly what happens most of the time.

Spotlight

Some companies make no effort at all to recover their VAT. But even those who think they’re reclaiming VAT may in reality only be recovering a small proportion of it. There are several reasons why companies fail to recover part or all of their foreign VAT. The main culprit a very confusing bureaucratic process. The end result is businesses are leaving large sums of money on the table. We estimate conservatively that a company which spends €5 million per year on foreign travel could easily be losing €300,000 if it fails to go after its VAT which is exactly what happens most of the time.

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