10 Reasons to Invest in Turkey
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1. Economic achievements of Turkey
3. Qualified and competitive workforce
4. Liberal and reformist investment climate
5. Infrastructure of Turkey
6. Central Location
7. Energy corridor and terminal of Europe
8. Low taxes and other incentives
9. Customs union with the EU since 1996
10. Large domestic market
1. ECONOMIC ACHIEVEMENTS
Booming economy of Turkish Republic, GDP has tripled and has reached 820 billion US dollars in 2013 while it was 231 billion US dollars in 2002 (these data is provided by Turkish Statistical Institute- TurkStat)
Stable economic growth of Turkey, that is confirmed by the average annual real GDP growth of 5.1% within the last 10 years.
Promising economy with a bright future, Turkey should become the fastest growing economy among OECD countries in 2012-2017 years. In average annual GDP growth is 5.2%.
Turkey has the 17th largest economy in the world and 6th largest economy compared with the EU in 2013.
Institutional economics has fueled in the last 10 years, foreign direct investment has reached more than 135 billion US dollars says the Central Bank of Turkey.
Dynamic and private sector development with the volume of exports to 152 billion US dollars, which in the period from 2004 to 2013 increased by 245% (TurkStat)
The population of 77.7 million people in 2014. The biggest number of the young population in comparison with the EU (Eurostat) Half of the population under the age of 30.4 years (2013, TurkStat)
Young, dynamic, well-educated population, which is composed of different cultures.
3. QUALIFIED AND COMPETETIVE WORKFORCE
More than 28.3 million young, educated and motivated professionals
Increase in labor productivity
About 610.000 students are graduating each year from 183 universities
More than 700.000 high school graduates, about half of which – graduates of vocational and technical secondary schools
4. LIBERAL AND REFORMIST INVESTMENT CLIMATE
Second place among the OECD countries in the number of reforms relating to the removal of restrictions on foreign direct investment in 1997.
Favorable business conditions, e.g. to open a company takes an average 6 days, in comparison of more than 11 days in the OECD countries (World Bank Report on the conduct of affairs, 2014)
Highly competitive environment for investment
The high level of production and service
Equal treatment for all investors
Around 37.000 companies with international capital
The new, highly developed technological infrastructure of transport, telecommunications and energy
A well-developed and inexpensive system of maritime transport
The possibility of rail transport in Central and Eastern Europe
Well-organized transport routes and mechanisms of direct deliveries to most EU countries
6. CENTRAL LOCATION
This bridge from east to west and from south to north, which provides the country direct and economical access to major markets
Convenient access to 1.5 billion consumers in Europe, Eurasia, the Middle East and North Africa
Output to multiple markets with a GDP of $ 25 trillion US dollars
7. ENERGY CORRIDOR AND TERMINAL OF EUROPE
An important energy terminal and corridor of Europe connecting the East and West.
Since Turkey is in the close proximity to more than 70% of primary energy resources of the world, while the main energy consumer, Europe, is located to the west of the country, it is the focal point of transit in the region energy resources.
8. LOW TAXES AND OTHER INCENTIVES
Corporate income tax was reduced from 33 to 20%
Tax breaks and incentives in the areas of technological development, industrial zones and free zones may include complete or partial exemption from corporate income tax, a grant covering employer’s share of social security and land acquisition.
Support of the strategic investments
9. CUSTOMS UNION WITH THE EU SINCE 1996
Customs Union with the EU since 1996, as well as the Free Trade Agreement (FTA) with 20 countries.
Preparation of additional free trade agreements
Accession negotiations with the EU
10. LARGE DOMESTIC MARKET
39.9 million broadband internet subscribers in 2014, up from 0.1 million in 2002 (ICTA, TurkStat)
71.9 million mobile phone subscribers in 2014, up from 23 million in 2002 (TurkStat)
57 million credit card users in 2014, up from 16 million in 2002 (The Interbank Card Center of Turkey)
166,5 million airline passengers in 2014, up from 33 million in 2002 (TurkStat)
35.9 million international tourist arrivals in 2014, up from 13 million in 2002 (TurkStat)