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Foreigners on Turkish Property Buying Spree

We are only just past midway through the year but already foreigners have purchased more than 6000 properties in Turkey. According to data from the Turkish Environment and Urbanization Ministry 6802 foreigners from 83 countries including the US, Kuwait, Britain and Tanzania have purchased 5,432 Turkish houses and 862 plots...

Posted on 08 June 2013

Istanbul Ranks as Top Global Tourist Spot

Istanbul has scored big once again in Mastercard’s Index of Global Destination Cities, securing itself the 6th spot among 132 cities ranked in terms of international visitor arrivals and spending. The survey predicted that Istanbul would welcome 10.4 million international visitors this year, putting it in front of Dubai, Hong...

Posted on 06 June 2013

Turkey’s Economic Prowess Brings Surge in Hotel Chain Investments

Turkey’s string of economic achievements, crowned by going from debtor to contributor with the IMF and a series of “investment grade” ratings -- Moody’s Investors Service, Japan Credit Rating Agency and Dominion Bond Rating Service all upped Turkey to investment grade recently on top of Fitch, which did so earlier...

Posted on 05 June 2013

Turkish Tourism Growth Boosted by Transport Investments

Speaking at the Turkey and Neighbors Hotel Investment Conference (CATHIC), a player in the tourism sector has said that the sector is being boosted to 300% annual growth and beyond thanks to giant transportation and urban renewal plans. The huge cost and huge effort spent on transportation and infrastructure projects...

Posted on 31 May 2013

Hilton Continually Expanding in Turkey

Hilton Worldwide, which is already the largest hotel company in Turkey has announced the addition of 3 new hotels in the country, taking Hilton's Turkish operation to over 10,000 rooms in operation and under development according to the release. “Our plan is to continue to grow the portfolio. We have...

Posted on 30 May 2013

Turkish Airlines Puts Istanbul on top of European Aviation

Talk about taking the world by storm, well Turkish Airlines is certainly causing a storm in Europe. The airline has been almost constantly in airline news for several years now as it adds more new routes than any other airline over any period you wish to measure. Thanks to its...

Posted on 17 May 2013

Turkey Pays Off IMF Debt, Becomes Contributor

After paying down debt rapidly for several years, this week saw Turkey enter a debt-free relationship with the IMF after 19 years as a debtor. It made for big news in 2008 when Turkey failed to enter a new standby agreement with the IMF signalling its confidence and desire to...

Posted on 16 May 2013

Turkish Air Traffic Flying High

Turkish air traffic continues to surge as the number of passengers continually increases. According to figures announced by General Directorate of State Airports Authority of Turkey, total number of airway passengers as well as direct transit passengers in April this year was up 13.1 percent on the previous year, reaching...

Posted on 09 May 2013

Istanbul Start-Ups Starting to Hot Up

New data from the Istanbul chamber of commerce shows an impressive 18% growth in the first four months of this year. According to the report some 18,185 newly-established companies registered with the Istanbul Chamber of Commerce (ITO)   during the period. Meanwhile business shut-downs were also down by 13.41 percent over...

Posted on 07 May 2013

Turkish Economic Train Rages On

While the economic crisis rages on in Europe and sporadically around the world, Turkey continues to go from strength to strength, this week finalising two record-breaking tenders. The first a 22.15 billion euros multi-party tender for the construction of Istanbul's third and one of the world's largest airports. The airport...

Posted on 04 May 2013