In this article, we are going to present 10 main reasons for investing in Turkey.
Successful Economy
Rapidly developing economy; GDP, which was 231 billion USD in 2002, increased more than three times in 2017 and reached 851 billion USD (TURKSTAT)
Stable economic growth; Annual average real GDP increased by 5.8% between 2002 and 2017 (TURKSTAT)
The 13th largest economy in the world and the 5th largest economy compared to the EU region in 2017 (GDP, IMF WEO according to Purchasing Power Parity)
Institutionalized economy attracting USD 193 billion of FDI in the last 15 years (CBRT)
A dynamic and mature private sector with an export volume that rose 335% between 2002 and 2017 to 157 billion USD (TURKSTAT)
Substructure
New and improved technical substructure in the transportation, telecommunications, and energy sectors
Highly developed, low-cost sea transportation
The advantage of transportation to Central and Eastern Europe by rail
Well-structured transportation facilities and direct shipping mechanism to most EU countries
Central Location
A cost-effective exit point for major markets, acting as a natural bridge between East-West and North-South
Easy access to 1.7 billion customers in Europe, Eurasia, the Middle East, and North Africa
Access to a large number of markets with a total GDP of $ 25 trillion
Energy Corridor and Terminal of Europe
An important energy terminal and gateway connecting East and West
More than 70% of the world’s primary energy consumers are located in regions very close to Turkey and it makes Turkey the key point in the energy transfer and an energy terminal.
Low Taxes and Incentive Opportunities
Corporate Tax which drops from 33% to 20% (22% for 2018, 2019 and 2020)
Tax benefits applied for Technology Development Zones, Industrial Zones, and Free Zones such as full or partial exemption from Corporate Tax and support for employers’ social security share.
R&D Law
Incentives for Strategic investments, large-scale investments, and regional investments
Population
81 million Population (2017, TURKSTAT)
Most populated young population compared to the EU (Euro stat)
Half the population under the age of 31.7 (2017, TURKSTAT)
Young, dynamic, educated, and multicultural population
Qualified and Competitive Workforce
Over 31.6 million young, educated and motivated professionals (2017, TURKSTAT)
Increased employee productivity
Over 800,000 graduates from more than 183 universities annually (2017, YÖK)
Over 985,000 high school graduates, half of them from vocational and technical high schools (2017, MEB)
A Liberal and Innovative Investment Environment
The second-largest reformer among OECD member countries in terms of restrictions on foreign direct investment since 1997 (OECD FDI Regulations Restriction Index 1997-2017)
A business-friendly environment that offers company set up in an average of 6.5 days (World Bank Business Report 2018)
Extremely competitive investment conditions
A strong industry and service culture
Equal treatment to all investors
About 58,400 foreign capital companies in 2017 (Ministry of Commerce)
International arbitration
Transfer guarantee
Customs Union with the EU Since 1996
Customs Union with the EU, which has been in force since 1996, and the Free Trade Agreement with 21 countries (Ministry of Trade)
New free trade agreements under study
Accession negotiations with the EU
Large Domestic Market
The number of broadband internet subscribers increased from 0.1 million to 69 million between 2002-2017 (BTK, TURKSTAT)
The number of mobile phone subscribers increased from 23 million to 78 million between 2002-2017 (TURKSTAT)
The number of credit card users increased from 16 million to 62.5 million between 2002-2017 (Interbank Card Center)
The number of airline passengers increased from 33 million to 193 million between 2002-2017 (TURKSTAT)
The number of foreign tourists increased from 13 million to 38 million between 2002-2017 (TURKSTAT)
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