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Turkish Economy Powering Forward as one of Hottest Emerging Markets

Posted on 03 September 2010

Turkey is continuing to drive forward on its path to one of the world’s greatest emerging markets.

Analysts believe the economy grew 10% in the first half of the year. And reports have emerged that this growth is continuing to fuel employment growth.

The air transportation industry has been an area of particularly strong growth, having continued to grow strongly throughout the downturn, according to Turkey’s Civil Aviation Authority.

“Turkish companies turned the crisis into an opportunity by making sponsorship deals and forming international partnerships”, said TCAA general manager Ali Ariduru, highlighting the growth in the country’s air transportation market, unseen in other countries with saturated air transportation markets.

Ariduru also reported that the 17 aviation companies in Turkey have added 54 new planes to the Turkish fleet this year alone.

Other reports tell us that trade between Turkey and Vietnam — another hot emerging market — is to hit 1 billion US Dollars next year. According to official data, trade between the two countries stands at 700 million US Dollars in this year.

Another thing driving growth in the Turkish economy is privatizations. The target was to reach 6.8 billion US Dollars in the value of privatizations this year, and the target has already been smashed in the first 8 months of the year, with 10 billion Dollars worth of privatizations already in place.

It is a joy for us to watch Turkey finally begin to reach its true potential, and receive the recognition and investment in truly deserves.

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