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Category Archives: Economy

Gulf Big-Hitters (Funds) Planning to Invest Heavily in Turkish Property

We posted earlier this week on the government putting the new law in action and allowing foreigners from dozens more countries – including the gulf states -- to buy property in Turkey. According to a new report from Jones Lang La Salle, many institutional investors (sovereign wealth funds, investment funds...

Posted on 10 August 2012

The New Law is Law – Turkey Welcomes Many New Property Buyers

What a historic day; in years to come they'll ask, where were you when the law came into effect. Nah, that is a bit of an exaggeration, but this is still huge news for the Turkish property market. The Bill to end reciprocity was pushed through parliament and approved earlier...

Posted on 08 August 2012

Turkish Incentive Package Attracts $3.2 Billion Investment in Six Weeks

Turkey launched its new incentive package designed to attract foreign and domestic investment into the country on June 19 and since that date has received 480 project proposals worth TL 5.5 billion or $3.2 billion. According to the economy minister, Zafer Caglayan, Turkey is expecting substantial investment from Europe, and...

Posted on 03 August 2012

Turkish Airlines Launches New Edinburgh-Istanbul Flight

More good news for anyone who owns or plans to own property in Istanbul, especially if they come from Edinburgh as Turkish Airlines have launched a new route between the two great cities, flying 4 times weekly from the Istanbul Ataturk hub to Edinburgh international airport. According to Anna Aero's...

Posted on 27 July 2012

Turkish Unemployment Rate Falls into Single Figures

The unemployment rate in Turkey fell by 0.9% in March year-on-year, to reach 9.9%. In February the unemployment rate was 10.4%, according to figures released by the Turkish Statistical Institute. Unemployment in urban areas reached 11.6%, while unemployment in rural areas was just 6.4% during this period. The number of...

Posted on 22 June 2012

Turkey Gets an Upgrade from Moodys

Many analysts have been predicting that Turkey was on the verge of receiving another upgrade from the ratings agencies, and that day has finally come. Moody's have upgraded Turkey by one level from Ba2 to Ba1 putting them now just one level below investment grade by Moody's scoring. Turkey is...

Posted on 21 June 2012

GE to Invest $900 Million in Turkey in Next 3 Years

General Electric Company is due to invest $900 million in Turkey over the next three years. The money will go to sectors such as energy, health, aviation, and transportation and infrastructure,, according to an announcement by Economy Minister Zafer Caglayan. According to him the new investment is a mark of...

Posted on 15 June 2012

Turkey’s Burgeoning Health Tourism Industry Reaches New Heights

Around 130,000 people visit Turkey every year to receive healthcare, and Turkey is well on its way to becoming an important health tourism destination. Another 250,000 visit the country for thermal tourism, as well as rehabilitation services and services for the elderly. Burgeoning tourism sectors include retirement homes and communities,...

Posted on 01 June 2012

Istanbul Named Candidate City for 2020 Olympics

The IOC's decision to make Istanbul a candidate city to host the Olympic Games 2020, has been hailed as a historic one for Turkey by representatives of its campaign. The IOC decided on Wednesday to eliminate Doha and Baku leaving Istanbul in the race along with Tokyo and Madrid. Istanbul...

Posted on 25 May 2012

Tourism Ministry Reports Strong Growth in Arab Visitor Numbers

The Arab invasion has begun. Kidding of course, but according to a new report from the Turkish ministry for culture and tourism the number of Arab tourists has grown rapidly this year. The ministry reports that visitors from qatar in the first four months of the year doubled compared to...

Posted on 18 May 2012