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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

Foreign visitors flock to Istanbul

6 January 2012, Istanbul - In 2011 Turkey received over 30 million visitors making it the 7th most popular destination in the world. Of this 30 million 8 million people visited the stunning city of Istanbul according its Culture and Tourism department number. This number shows an increase of over...

Posted on 06 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 exports reach a new high

3 January 2012, Ankara - Despite the global downturn Turkey’s 2011 exports reached an all time high exceeding 2010 by 18.2 percent and amounting to nearly 135 billion USD. According to data from TIM (the Turkish Exporters Assembly) the manufacture of motor vehicles showed the largest sector for exports amounting...

Posted on 03 January 2012

“Istanbul is one of the most exciting and interesting cities of Europe, if not the world”

3 January 2012, Ankara  - The man who coined the phrase BRIC economies the world renowned economist and Chairman of Goldman Sachs Asset Management Mr Jim O’Neill predicts the next 10 years will see another set of emerging powers including Turkey taking over. In a recent interview O’Neill said “If...

Posted on 03 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

Turkish Airlines flying high

20 December 2011, Istanbul - According to Turkish Airlines General Manager Temel Kotli, the airline has had a very successful 2011 and will add 10 new global destinations in 2012 as well as adding 18 new aircraft to fleet of 178 aircraft. “The new destinations to be added until the...

Posted on 23 December 2011