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Travel Agencies Return to Selling Holidays with Promissory Notes


Travel Agencies Return to Selling Holidays with Promissory Notes

There is a remarkable development in the tourism sector that is met with concern by many segments: Travel agencies are returning to selling tours with promissory notes, which is a risky method. This move brings with it the concern that the economic difficulties experienced in the past may repeat. Travel Agencies Return to Selling Holidays with Promissory Notes

Tourism professional Cem Polatoğlu draws attention to a new development in the tourism sector that causes widespread concern: Travel agencies are resuming the sale of holidays with promissory notes, a risky method that has caused economic problems in the past. This strategy brings to mind the possibility of a repeat of previous financial crises.

Domestic Tourists Are in a Difficult Situation Against Euro and Dollar

Dolar ve Euro'da yeni rekor!
Travel Agencies Return to Selling Holidays with Promissory Notes

During the 80s and 90s, hotels focused on foreign countries met more domestic tourists. However, foreign currency-based pricing has become a major economic burden for domestic tourists. The obligation to pay cash all at once has caused many people to postpone their holiday plans.

Promissory Note System: Short Term Solution, Long Term Problems

Although selling by promissory note seemed like an attractive alternative at first, it led to the bankruptcy of many tour companies due to disruptions in the payment processes. Failure to pay installments caused serious financial crises among tour companies and hotels.

Credit Card Era: Healthy Growth in Tourism

By the 2000s, thanks to the installment credit card system, collection risk was transferred to banks and a healthy growth was achieved in the tourism sector. This period brought about a great revival in both domestic and foreign tourism.

Economic Crisis and a Risky Step: Return to Promissory Notes

However, the economic crisis and the removal of installment opportunities caused a major stagnation in international tours. The fact that agencies are turning to promissory notes again in order to overcome this recession worries many experts in the sector. The risk of financial difficulties experienced in the past coming to the fore once again may herald a new wave of crisis in the tourism sector.

The re-emergence of promissory notes in the tourism sector poses a great risk for both consumers and industry professionals. Although this method contributes to short-term sales targets, it should not be forgotten that it may threaten the health of the tourism sector in the long term. All eyes are on the effects of this development on the tourism sector.

Tourism professional Cem Polatoğlu; His article titled “Renewed Bond Era in Tourism” is as follows:

Turizmci Cem Polatoğlu

Re-Deed Period in Tourism

80s 90s. Domestic tourism has become active. Hotels that were used to tourists from abroad met more local tourists. However, the prices of hotels operating in euros or dollars were high for local tourists. The consumer was forced to pay in cash at once.

Resort; BILL

The bill was a hit with holiday customers. Everyone started to go on holiday with installments ranging from 3 to 5, 5 to 9 months. However, when the payment dates came, collection problems started.

Bank and hotel debts accumulated due to unpaid promissory notes have weighed on tour companies. Agencies that could not get out of this vortex had to either leave the industry or go bankrupt.


Seyahat Acentaları Senetle Tatil Satışına Geri Dönüyor
Travel Agencies Return to Selling Holidays with Promissory Notes

And in the 2000s, the installment credit card system, which transferred the collection risk to the bank, became the salvation of the agencies. Domestic and foreign tourism has exploded. The annual number of domestic Turkish tourists, measured in hundreds of thousands, increased to 13-15 million, and the number of international Turkish tourists increased to 8-10 million.


International tours, which continued to increase until the installments for international flights and tours were canceled due to the economic crisis, came to a halt with this decision. Agencies that wanted to overcome the recession STARTED SELLING TOURS WITH BILLS again after many years.

We hope that our tour companies will not fall into the economic vortex like before and there will be no new bankruptcies.
Wishing holidaymakers and agencies a happy holiday.

Kind regards

Cem Polatoğlu


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