The global recession has caused sales in the region, dubbed the 'Gateway to Asia' to decrease by 40 per cent, while ten per cent of manufacturers and distributors have gone bankrupt says the country's toy trade body.
The region's trade show Toyzeria (pictured) has already been cancelled this year and hopes to return in 2010.
"This year is a time to regain lost ground," said Ahmet Alioğlu, chairman of the Toymakers Association. “Our hopes are pinned on New Year’s Day.”
He also added that the high rents of big shopping centres and the appreciation of the US dollar means companies are selling at a loss.
"Many shopping centers are not helping stores in reducing rent," he said. "We don’t have an expectation for this year anymore. People don’t have purchasing power. People are buying clothes instead of toys."
"Annual toy consumption per child stands at $250 in the United States, €250 in the European Union but $10 in Turkey. To increase this figure, we should first increase the purchasing power of our people.”