Turkey enjoys a very solid economic infrastructure that has proven its solidity through many crisis. Investment in the Turkish Market has never been as attractive as it is today! In the following we will present to you six reasons why you should take Turkey into high consideration for investment.
- Robust Economy
With exports increasing 7.1% from 157.0 billion dollars to 168.1 billion dollars just in the years 2017-2018, with a 4.6% decrease in imports in the same timeframe from 233.8 billion dollars to 223.1 billion dollars. The revenues from international tourism and FDI flows increased 12% and 14% respectively.
In the last 15 years the average volatility of inflation has been 4%, and even though there is an inflation crisis nowadays, the government is planning to cut below the 10% next year.
- Domestic & International Markets
The Turkish economy has more than tripled over the past 15 years and is promising more growth in the future, as the GDP in 2002 was 236 Billion dollars in 2017 it is 851 billion dollars. And it is one among the top 10 countries with high GDP per capita in countries with population over 50 million. The middle class in Turkey has increased to 40 million in 2016 when it was 17.8 million in 2002.
Today, Turkey is a member in the EU’s Customs Union which allows direct access to the EU market that is free access to over 945 million consumers.
- Strategic Location
Turkey is in proximity to major markets; 1.5 billion people and 24 trillion dollars in DGP in Europe, MENA and Central Asia at 4 hour flight-distance. It is considered a manufacturing & exporting hub for multinational companies such as TOYOTA which exports 85% of its productions from Turkey as well as Ford which exports 77% of its productions, as well as a management hub for multinational companies like Intel, GE Healthcare, B/S/H/, Knauf, Thyssenkrupp Verifone and gsk!
- Favorable Demographics
Turkey enjoys with its population being overwhelmed by young and dynamic people ready for work. It is expected that in in the coming few years, the working age population of Turkey will increase from 100% to 110% while that same group in Europe will decrease to 90% from 100%.
Throughout its journey as a EU membership candidate, Turkey has implemented sweeping reforms in many areas and still continues to introduce new reforms.
- Business Friendly
Turkey offers protection and ease of doing business with its:
Foreign Direct Investment Law.
Bilateral Investment Protection Treaties with 75 countries.
Treaties to avoid double taxation with 80 countries.
Turkey is ranked 12th in terms of International Tax Competitiveness before Germany, Canada, the United Kingdom and United States.
- Lucrative Incentives And Opportunities
Turkey offers investors a lot of incentives in many ways be it in terms of tax deduction and exemption, payrolls and traning support for employment, support to R&D and many more.
Turkey also provides you lots of abundant opportunities in a variety of sectors.