The Turkish lira, which last week fell to a record low of 4.99 against the US dollar, is having both positive and negative effects on the country’s yacht tourism market.

Turkish boaters who normally sail to the Greek islands for the summer holidays are staying at home, thanks to the low exchange rate. Everything from food, fuel and registration fees in Greece are now more expensive.

Turkish marinas are therefore said to be enjoying high occupancy rates – especially following the elections in June, which brought with it a sense of stability. Business throughout July and into August has so far been beyond expectations.

However, marinas in Turkey are also complaining about sales of tax-free fuel to foreign yachts that declare that they are not staying in Turkish waters. This is particularly the case with superyachts purchasing fuel and then sailing to other countries without spending any time in Turkey.

Can Akaltan, manager of Çeşme Marina, says that regulations should be created to ensure extended stays. ‘Fuel without tax’ became an agenda topic once again after the superyacht Queen Miri recently purchased 176 tonnes of tax-free fuel in İzmir.