Investments in the touristic hot spot of Bodrum on the Turkish Riviera have hit their peak, Mayor Ahmet Aras said Friday.

Ongoing and new investments in the southwestern resort town have reached a whopping $10 billion (TL 70.9 billion), Aras told a virtual news conference.

“This includes all investments from infrastructure to tourism, hotels to hospitals, gyms to schools,” Aras said.

He underlined that not only the private sector but also the state continues to make significant investments in Bodrum.

“Currently, there is a very attractive investment environment in Bodrum especially in the fields of tourism, maritime, transportation, technology, sports, renewable energy and agriculture,” Aras noted.

Stating that the tourism and service sectors are the most important source of income for Bodrum, Aras said the resort town saw a 74% year-on-year loss in tourism last year due to the coronavirus pandemic.

The tourism sector is expected to recover as of April with the start of the holiday season in Bodrum, Aras noted.

Highlighting that Bodrum has hosted a substantial number of tourists from Europe so far, the mayor said initiatives to diversify the tourism market have begun.

“We attach great importance to attract Russian and Ukrainian tourists,” he said.

The resort town will also focus on the MICE (meetings, incentives, conferencing, exhibitions) sector to receive more foreign investments, Aras said, adding, “We are determined to make Bodrum the Davos of Turkey.”

Aras said the municipality is working to increase the number of tourists and tourism income.

“We are seeking 2.5 million foreign tourists and a tourism revenue of $5 billion this year by diversifying the sector to gastronomy, agriculture, health, nature, sports and congresses," he said.