Greek Tourism Industry going from Strength to Strength

A report by INSETE, Greece’s Companies Institute says the Greek tourism Industry during 2018 accounted for a staggering 21.6 billion euros in revenue amounting to 11.7% of the GDP. Proving to be a strong sector for the economy, foreign visitors generated 90% of the revenue. In 2018, just over 30 million foreigners descended on Greece … Continued

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Early economic and tourism indicators point to a bounce-back in Turkey

A buoyant property market combined with bullish economy, weak currency and rebounding tourism industry are creating attractive conditions for foreigners who invest in Turkey this year, said Spot Blue International Property in March. Here Spot Blue International Property outlines five key reasons the outlook is positive for homeowners and the housing market in Turkey in … Continued

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Turkey and Africa’s Fruitful Business Relations

While the Turkish economy performed exceptionally well in 2017, it seems Turkey is not about to sit back and relax. Looking to boost already fruitful political, economic, and military relations between Turkey and Africa, the President of Turkey, Recep Tayyip Erdogan has just toured the vast continent on a 5-day, 4-night trip. On this occasion, … Continued

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Turkey’s Medium Term Economic Program

In September 2017, Turkey’s Medium Term Economic Program for 2018 to 2020 was unveiled. Prepared every year by law, then approved by the cabinet, and released by the Ministry of Development, it is finally published in the Official Gazette of Turkey. The Medium Term Economic Program is a study of how the current economy is … Continued

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Turkey Set to Exceed 2017 Export Targets Amid Growth Revision

A statement by the president of the Turkish Exporters Assembly revealed that the Turkish government is optimistic it will surpass 2017 export targets. By November of 2017, exports were showing a 14% increase year on year, netting a total 142.4 billion dollars. The year-end goal is 156.5 billion. Crediting the massive surge to the automobile … Continued

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Turkey’s Foreign Trade Statistics for First Half of 2017

A recent report published by the national news agency of Turkey, Anadolu has revealed foreign trade statistics for the first half of 2017. Using information, and data provided by the Turkish Statistical Institution (Turk Stat), the report also compared year on year figures of June 2016 and the same month in 2017. Exports from Turkey … Continued

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Gulf States continue to drive Turkish market, while UK confirms long-term trade commitment

July’s failed coup appears to have done little to dampen long-term foreign interest in Turkey, after representatives from the Turkish Chambers of Commerce in the UK (TBCCI) expressed their on-going confidence in Turkey, while interest from Gulf nations continues to drive the Turkish property market. Chairman of TBCCI, Emma Edhem, commented that stability and order … Continued

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Turkey’s stock exchange gaining stability globally

A sign of Turkey’s strengthening economy, the Istanbul Stock Exchange Market (Borsa Istanbul) is now ranked within the world’s top 20 most sustainable stock exchanges. Based on companies’ environmental, social and corporate governance performance, the Sustainable Exchanges Index measures the sustainability of exchanges. The new rankings place the Borsa Istanbul in 11th place on the … Continued

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IMF predicts continued economic growth in Turkey

Turkey’s economy has grown by six per cent on average since 2010 and is set to continue growing albeit at a moderate pace, according to a report by the International Monetary Fund. An IMF team visited Turkey between September 11 and 24 and carried out its annual evaluation of the economy. The resultant report noted … Continued

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Turkey in the world’s 50 most competitive markets, with rising exports

Turkey is the 45th most competitive market out of the world’s 148 most important economies, according to the 2013-2014 Global Competitiveness Report by the World Economic Forum (WEF). Six European countries dominated the top 10 places of this year’s GCR, namely Switzerland in first place, as well as Finland, Germany, the Netherlands, the United Kingdom … Continued

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Turkey’s interest rate hike stalls Lira’s fall, fuelling domestic rental market

Developers in Istanbul are reporting a hike in sale to foreign investors during December 2013, fuelled by investors taking advantage of a slump in the value of the Turkish Lira against other major currencies. The recent drop in the value of the Lira against the US Dollar and Sterling has increased the spending power of … Continued

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Turkey to be world’s 12th largest economy by 2028, says leading economic analyst

Turkey is currently the 17th largest economy in the world but will climb steadily over coming years to reach 12th position by 2028, according to the latest World Economic League Table (WELT) by the Center for Economics and Business Research (CEBR), a leading economic analyst. The CEBR report also predicts that by 2028 Turkey’s annual … Continued

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