Restrictions on installment payments introduced in Northern Cyprus - Travel Industry News.

The Banking Regulatory and Supervisory Agency (BARC) has abolished the installment option for the purchase of overseas air tickets and accommodation services using credit cards. Following this decision, which also includes Northern Cyprus, tourism businesses in Turkey and the TSCC expressed their disagreement. In a statement, the Northern Cyprus Travel and Tourism Agencies Exchange (KITSAB) stressed that if this decision is applied to KCTCS as well, it will deal a death blow to the already struggling tourism industry.

The KITSAB statement said the following: "In Turkey, according to a decision issued by the Banking Regulation and Supervision Agency on July 31, 2023, citizens of the Republic of Turkey will not be able to use installment services when purchasing goods abroad and other spending when using credit cards. We understand that this decision is part of restrictive measures aimed at limiting consumer spending by Turkish citizens. However, if this decision is applied to KCTCS as well, it will fatally harm our tourism sector, which is already in dire straits. As you know, Cypriot tourism relies heavily on tourists coming from Turkey and our entertainment offer is purely related to their spending. Most of the tourists shopping in the country's shopping centers rather than in home stores are visitors from Turkey. This decision will lead to a decrease in the number of tourists from Turkey, as well as a significant decrease in trade, which will seriously damage the economy of the TSCC as a whole. We hope that Turkish officials, who are conducting various activities to support the Cypriot tourism sector and have recently launched an advertising campaign abroad, will take the necessary steps to ensure that this decision is applied "only not for the TSCC." We expect that KCTCS government representatives in Turkey will be able to explain about the losses this decision will cause to the KCTCS economy and will take decisive measures to ensure that its application is eliminated. "

3 installments were previously available to tourists planning a KCTCS vacation so that they could divide their expenses into 3 equal parts and pay in stages. Tour operators claim that the abolition of the installment option will result in a significant reduction in the number of tourists visiting KCTCS.

The KCTCS press has also paid considerable attention to this development. The Kypriz newspaper reported it on the front page under the headline "Credit Card Vacations Under Threat." The article states that efforts are being made to change this decision and cites the views of industry representatives.

Actunc: CYPRUS AND PALOMNIQUES HAVE BEEN UNBANNEDG/h3>

The Secretary General of the Ministry of Tourism, Youth, Culture and Environment, Serhan Aktunç, said that they were working to increase the number of contributions, but that the decision was on the contrary. He said: "This issue has already been discussed at our level. We have had meetings at the level of secretary-generals. We planned to increase the number of contributions using credit cards. It was even included in the action program. Cyprus and pilgrimages were not subject to the prohibition; but somehow it interfered. After making this decision, I arranged a meeting with representatives of the Eurasian Economic Union and our Prime Minister Fikri Ataoğlu and Presidium Chairman Cevdet Yılmaz also held talks.

Chagyner: I am confident that the decision will be changed.

The chairman of the Hoteliers' Union, Dimag Çaginer, said they expect the decision to be changed. He said: "The aspect of the Cyprus connection has been missed. If the decision remains the same, our tourism offer will be negatively affected. I am sure that this decision will be changed, that it will be rolled back. "

Tolun: WE TALK "2 STATES - 1 PEOPLE", BUT WE DON'T SEE AN EXAMPLEG/h3>

In Tourism and the Union of Travel Agencies President Orhan Tolun said that a decision was made that they did not expect and should not have been. He said: "This decision aimed at curbing the consumer spending of citizens of the Republic of Turkey, starting to be taken in Turkey, will result in a fatal blow to our already struggling tourism sector. Cypriot tourism relies heavily on tourists coming from Turkey and our stores exist because of their purchases. This decision will discourage tourists from Turkey and lead to a significant reduction in shopping. A tourist who cannot make a contribution using a credit card and local commuters will not prefer to come here. Parents of students will not be able to attend. We used to be able to do 6 installments, we complained about it. When Turkey brought credit cards to 12 installments, they reduced to 3 installments when looking at the foreign market. It destroyed the tourism economy. Especially in May, many business delegations such as seminars and conferences come to visit. I don't know if that would be the preferred direction in this context. We're going to get a lot of damage. We say "2 states - 1 nation" but we see no examples of this. Cyprus counts abroad, they cannot say Cyprus is an exception.".