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Category Archives: Economy

Turkey re-elects Erdogan and sees positive economic signs

The Turkish nation has re-elected Recep Tayyip Erdogan as its prime minister, after his AKP party scored a resounding victory in the country’s local elections on Sunday. Erdogan’s return to power is deemed by many as a positive step towards continuing the country’s strong economic development, thanks to his ambitious...

Posted on 01 April 2014

Foreign investment in Turkey remains strong, with Europe its most important trading partner

Turkey’s attraction to foreign investors and businesses remains strong, after figures from the Turkish Ministry of Finance revealed that foreign direct investment (FDI) into the country in 2013 totalled $12.686 billion. Capital inflow accounted for $10.1 billion while real estate purchases by foreigners exceeded $3 billion. The European Union remained...

Posted on 04 March 2014

Istanbul’s largest ever office lease signals healthy 2014 for commercial sector

A New Year’s boost for Istanbul’s commercial real estate sector is the announcement that Colliers International has pre-leased what it claims is the largest-ever office lease recorded in Turkey, namely over 60,000 square metres of the Torun Tower, on behalf of Torunlar REIT. The space has been leased to Denizbank,...

Posted on 11 February 2014

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...

Posted on 07 February 2014

Turkey’s quality medical sector attracting increasing numbers of health tourists

A new report ranks Turkey among the top 10 healthcare destinations globally, thanks to the country making high quality treatment and facilities available to foreigners at reasonable prices. The 2014 Global Life Sciences Outlook published by international tax firm Deloitte says Turkey now attracts hundreds of thousands of healthcare seekers...

Posted on 04 February 2014

Turkey’s Antalya booms as tourist destination, while more Turks start to travel abroad

The city of Antalya on Turkey’s southern Mediterranean coast welcomed 12 million visitors in 2013, the highest number ever recorded anywhere in Turkey, according to the country’s Ministry of Culture and Tourism. Tourist numbers from Russia, China and Germany were especially high last year in Antalya, where the Turkish government...

Posted on 22 January 2014

“Turkey’s spectacular growth shows no signs of slowing,” leading economist tells the BBC

Goldman Sachs chief economist Jim O’Neill highlighted the spectacular growth that Turkey has undergone in recent years during a Radio 4 documentary this week, adding that there are no signs of the country’s economy taking its foot off the gas. O’Neill was visiting Turkey as part of his tour of...

Posted on 10 January 2014

Why Turkey’s MINTy taste makes it an emerging economic powerhouse

Turkey has been named one of four emerging economic giants in the world by a leading economist at investment bank Goldman Sachs, boosting its appeal to foreign property investors during 2014. Economist Jim O’Neill, who created the BRIC acronym which in 2001 identified Brazil, Russia, India and China as the world’s...

Posted on 06 January 2014

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...

Posted on 01 January 2014

Turkish economy remains bullish as Turkey and the UK strengthen trade ties

Turkey’s economy beat expectations in the third quarter of 2013, recording 4.4 per cent quarter-on-quarter growth and continuing on its growth track for the 16th consecutive quarter, according to official data. This latest statistic means Turkey is one of the top 10 fastest growing economies in the world. The country’s...

Posted on 13 December 2013