PERCEPTIONS OF FOREIGN INVESTORS ON THE TOURISM MARKET IN CENTRAL ASIA - Tourism in Central Asia: Cultural Potential and Challenges - page 313

zerland of Asia” (Gleason, 2003). The Kyrgyzstan government has made
good progress in establishing the legal and regulatory foundation for a
market economy (Akayev, 2001). A comprehensive foreign investment
law was adopted in September 1997. Kyrgyzstan has 172 hotels, approxi-
mately 293 travel agents (2005) and 1925 hotel rooms (2003). The total
employment figure in the tourism sector is 6635 (2004) (http://stat-gvc.
bishkek.su, 2004; http://www.tsm.kg, 2005).
Turkmenistan was known for most of its history as a loosely defined
geographic region of independent tribes (Nichol, 2003a, b). The Govern-
ment has now completed a full year of implementation of its strategy
for Turkmenistan's economic, political, and cultural development for
the period up to 2020. In an effort to attract foreign investment and
tourism to Turkmenistan, the government has focused on infrastruc-
ture, construction of quality accommodation, including several 4-star
hotels, and the development of conference and business facilities. Turk-
menistan now hosts the largest and most modern airport in CA (www.
turkme-nistanembassy.org, 2005). A rail link to the Iranian network,
which enables train travel from Turkmenistan to Turkey (Istanbul), was
completed in 1996. The railway system also connects to highways and
airports (www.sitara.com, 2005). Tourism has been designated a prior-
ity area of economic development. In 2001, hotel rooms numbered 2616
with 6571 beds (1997) (www.nationsencyclopedia.com, 2005).
Today, the number of tourist arrivals in the CA countries is around
3.304 million and tourism receipts are $726 million (excluding Turk-
menistan, 2004) (WTO, 2005a, b). It is clear from the efforts of these
countries that they are making tourism one of their strategic initiatives in
their development plans.
DATA SAMPLE
This study examines foreign investors' perceptions of tourism investment
conditions in CAS. This study specifically examines investors' perceptions
of overall foreign investment conditions with respect to tourism and the
most attractive investment area in tourism for foreign investors from the
Turkish tourism investors' point of view. The investigation-involved mem-
bers of the Turkish Tourism Investors Association (TTIA), established
in 1988 by the principal tourism investors in Turkey. TTIA is a private