As a result, Turkish tourism, which contributes some 4.5 percent to the country's economy, is expected to lose more than 7.6 million tourists this year, while the loss in revenue is expected to hit $9 billion, according to projections from the Tourism Data Bank.

In the worst-case scenario, the loss could be as high as $12 billion, according to the projections.

"Turkey's cooperation with China in the field of tourism first warmed in 2007, when the Chinese started to travel around the globe," says Ibis.

Turkey has managed to achieve a steady increase in the number of Chinese arrivals by means of campaigns and promotions over the years.

"The numbers were over 300,000 in 2015," says Ibis.

However, at the start of this year Turkey received only 500 Chinese tourists during the traditional Chinese Lunar New Year period in February, a time when families opt to travel abroad.

Despite the early setback, Turkish tourism professionals are optimistic about attracting 1 million Chinese by the end of the year.

Gurcun says: "The Turkish tourism sector is very eager to host Chinese tourists."

Some Turkish hotels and tourist sites have even modified their decor to appeal to Chinese visitors, while others have amended their menus to suit Chinese tastes. Many tour guides are now also starting to learn Chinese.

In other changes, ATU Duty Free, a travel retail company, has recently partnered with UnionPay, a payment system popular with the Chinese, who are listed among the top five nationalities with highest spending rates per capita at Istanbul's Ataturk Airport.