Applicability of the Dockominium Model: Case of Marinas in Turkey

Osman Cenk Demiroğlu

Master's Dissertation Abstract

Istanbul University, 2007

ABSTRACT

Nautical tourism has become an increasingly more recognized alternative as a potential contributor to Turkish tourism revenues. Yacht tourism on the other hand, a sub category of the aforementioned alternative, has witnessed a rapid growth by courtesy of the natural and human attractions the 8333km coastlines of Turkey have to offer. Consequently, the marina sector, one of the two vital businesses in yacht tourism, has gained the dynamism to complement these attractions as an infra- and superstructure component and thereby become a synergic element in inviting the hundreds of thousands of yachts cruising along the Mediterranean shores. The first part of this study introduces the general concepts and knowledge about nautical tourism and its types whereas the second part reviews the literature in terms of the position of marina business around world and in Turkey, and after an emphasis on the macro contribution of the sector on the economy, society and the marine environment, it urges us to bring solutions to the micro scale issues of the marinas in Turkey. The final part of the study has been designated to suggest the dockominium model as an alternative for the sector who is somewhat troubled with the legislation and profitability issues associated with the investments. The application of the model has been described in terms of the legislative and economic criteria it requires and, its impact on the marina profitability has been demonstrated through a sample comparative valuation scenario, yet the crucial issues to be looked out for were also highlighted.

Keywords: Nautical Tourism, Yacht Tourism, Marina, Dockominium, Turkey