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Turkish Airports Continue Exceptional Growth

Traffic through Turkish airports is continuing to grow strongly according to the latest data. Anna.Aero, the airline data collation website has just published stats for January, which show incredible growth across Turkish airports. Dalaman was the best performer with passenger numbers up 41.1% year on year from 22,555 last January...

Posted on 24 February 2012

BT to Double Turkish Investment Create Global Satellite Hub

British Telecom has announced sweeping plans to make Istanbul not only a regional hub for its business (along with Dubai and Johannesburg, South Africa), but also a "Global Center of Satellite Excellence", according to aid Luis Alvarez, president in charge of Europe, Middle East, Africa and Latin America. Speaking at...

Posted on 17 February 2012

Turkish Airlines Starts Year with More New Flights

[caption id="attachment_12484" align="flwp" width="300" caption="A Turkish Airlines A330"][/caption] Turkish airlines finished 2011 with a big array of new flight routes, and has started 2012 in the same way. At the back end of last year Turkish airlines made the headlines for being quick to resume flights into Libya as soon...

Posted on 16 February 2012

Shock Snowfalls Freeze Life in Eastern Turkey

I'm dreaming of a white... Bitlis. Those in the town of Bitlis in eastern Turkey probably aren't dreaming of a white anything after almost a week of constant snow brought day-to-day life in the town to a standstill. Anything or anyone capable of moving freely in a snowdrift of 640cm...

Posted on 11 February 2012

A Week of Tourism Events and Controversy

This week was a week of big tourism events in Turkey, events which brought a new realisation on tourism income growth in Turkey. The Turkey Tourism Summit in the Istanbul Convention and Exhibition Centre ICEC made the headlines for a rather controversial reason. Hurriyet headline: "Minister blames statistics body for...

Posted on 10 February 2012

New Istanbul Financial Centre aims to outclass London and New York

Istanbul, 9 February 2012 - The new Istanbul Financial Centre project in Atasehir on the Asian side of Istanbul is taking shape with construction underway. The Financial Centre has the full backing of the Turkish Government with many of Turkey’s governing bodies of rapidly growing financial sector being house in...

Posted on 09 February 2012

Istanbul Number One in European Property Investment

Since the downturn struck I could count the number of times the Guardian has covered Turkish property, in the mainstream sections anyway, but we have a cracker in today's. After winning for the last 2 years on the trot, Istanbul has once again be named the property  investment hotspot of...

Posted on 03 February 2012

Current Account Deficit Begins Descent

Last year saw Turkish exports grow at an incredible clip, leading analysts and commentators (including ourselves) to predict that it would eventually start to bring down the current account deficit, which is an important economic indicator and one of the few blemishes left to negatively color the Turkish economy. Well,...

Posted on 13 January 2012

Turkey Starts 2012 One of Strongest Economies in World

We all heard a lot about the Turkish economy in 2011 I know I wrote a lot about it and the reports are still coming in now. As always, it takes time to prepare final figures for the entire year, but if the reports we have seen so far are...

Posted on 11 January 2012

Istanbul Tourism up 16% in 2011

Istanbul is currently one of the hottest places for buy to let investment in the world. The population is huge and growing so rapidly in numbers and affluence, that developers simply can't build fast enough to meet the demand for quality property to buy and rent. But it is also...

Posted on 07 January 2012

2011: A Great Year for Turkey and Turkish Property

Twenty Eleven was a great year for Turkey and a great year for Turkish property. The Turkish economy was among the fastest growing in the world (it was the fastest in 1H, but we have no data for 2H) according to official data. According to the Turkish association of real...

Posted on 06 January 2012

Turkish Mortgages in Increasing Demand

With the Turkish property market still busy (and not too badly effected by the Euro crisis), investors are still interested in borrowing funds rather than just paying cash. The most popular loans tend to be either in Euros or Sterling, but as the local currency is still in Turkish Lira,...

Posted on 02 January 2012

Turkish Tourism Hits the 30 Million Target

It's official, Turkey has crossed the long-anticipated threshold of 30 million visitors, a year later than expected. During the boom the government set the tourism target that Turkey would be receiving 30 million visitors per year by 2010. Then the credit crunch happened. Most tourism markets were completely derailed by...

Posted on 30 December 2011

Turkey Continues to Impress for all the Right Reasons

It is no surprise that foreign direct investment is flooding into Turkey, because unlike many countries at the moment, there is no reason to be scared of investing. Turkey is in Europe, but not in the Eurozone and has been growing strongly throughout the European financial crisis. Even now as...

Posted on 09 December 2011

Fitch Affirms Turkey at BB+

Fitch Ratings has affirmed Turkey's rating at BB+ one step away from investment grade, despite revising the country's long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Positive. The agency also affirmed Turkey's Short-term foreign currency IDR at 'B' and Country Ceiling at 'BBB-'. "The revision of...

Posted on 23 November 2011

Reciprocity Restrictions to be Removed in 2012, Boosting Foreign Sales

The Turkish government is expected to remove the reciprocity restrictions on its property market in 2012. The draft law is to be polished off by the Environment and Urbanisation ministry before being submitted to the national parliament later this month. The aim of the law would be to open up...

Posted on 19 November 2011

Foreigners Buying More Property in Turkey

The latest data from the Turkish Land Registry Director shows that some 123,,000 foreigners own 113,687 immovable properties in Turkey. The data shows that resort properties are still the most popular with foreigners, and they prefer established cities like Antalya, Mugla and Aydin ,as well as Istanbul and Bursa. The...

Posted on 18 November 2011

Turkish Airlines Istanbul Ataturk Now Most Diverse Hub in Europe

From its hub at Istanbul Ataturk, Turkish Airlines now offers a wider range of non-stop flights than any other carrier does from a single airport. Turkish Airlines now flies non-stop from Ataturk to 172 destinations around the world, leaving its nearest competitor Lufthansa some way behind flying to 158 destinations...

Posted on 10 November 2011

British Airways Looks to Increase Istanbul Flights

British Airlines is looking to further increase the number of transit flights to and from Istanbul, according to a manager with the firm. Gavin Halliday, who is the general manager of the firm's Europe and Africa operations said: "Not only has the number of people visiting Turkey increased, the number...

Posted on 03 November 2011

Turkish Banking Shares Surge on Central Bank Announcement

Turkish banking shares saw a three-day losing streak broken into a surge after the central bank cut reserve requirements on lira liabilities, which freed up capital for increased lending. The banking shared index rose 3.3% at the close, almost completely reversing the previous day's 3.5pc fall. The biggest gain was...

Posted on 28 October 2011