6 Reasons To Invest in Turkey
6 Reasons To Invest in Turkey
Turkey’s geopolitical location and hospitality have always made it popular. Those features make it a great place to attract local and global investors in various industries, including tourism and real estate.
Turkey’s economy recovered one of the fastest after the pandemic, according to the Central Bank of Turkey. The FDI inflows into Turkey in 2021 were $14.1 billion, up 80.7 per cent. From 2003 to 2021, FDI inflows into Turkey totalled $239 billion.
Here are some compelling reasons to invest in this beautiful country.
What makes Turkey a good investment?
A strategic location
- Turkey is a natural bridge between Asia and Europe. Both continents also influence their eclectic culture. In these areas, Istanbul offers strategic access to all the key markets. Through FTAs and Customs Union, Turkey has access to 955 million consumers. Most of the investments have gone to Istanbul, which is the 7th city in Europe.
The 11th strongest economy in the world
- Recent years have seen record growth in the Turkish economy. Between 2003 and 2020, it climbed from 18th to 11th globally. For more info, see the graphics below.
A strong entrepreneurial community
- Startup co-founders and founders are big in Turkey, especially in Istanbul. The possibilities for partnerships and networking are endless.
- It’s easy for startups of all kinds to get involved in events, accelerator programs, conferences, co-working spaces, and hackathons.
- Entrepreneurs can learn from each other, create something new, and come together because of hybrid or newly digitized programs and events.
Foreign Investment Incentives
To encourage foreign investment, the Turkish government wants to build incentive-based categories of assets that all professional investors can access. FDI quality defines seven investor profiles, according to Turkey’s Investment Office. Investors will come across these profiles:
- Import dependency reduced by investment
- Investments in R&D, Design, and Innovation Centers
- Technology and knowledge transfer investment
- Incentives for investment
- Supporting digital transformation
- Investing in high-quality jobs
- Investing in exports
For the 2021-2023 FDI investment strategy, the Turkish government has planned a lot of investments. They did that by analyzing all the investors’ expectations and requirements and tailoring all the plans and actions accordingly.
A workforce that’s skilled and competitive
- Due to population ageing and shrinkage elsewhere in Europe, Turkey’s young, educated population is a valuable asset.
- Turkey’s young, vibrant population – driving a robust labour pool and lucrative domestic market – gives you many options.
- Turkey had 82 million people in 2018. It’s predicted to reach 86.9 million by 2023 and 100.3 million by 2040, according to the Turkish Statistical Institute. In 2069, the population will reach 107.6 million.
Good infrastructure
- Infrastructure and low transportation costs are the biggest reasons foreign investors invest anywhere. There’s been growth in Turkey’s basic infrastructure, like transportation, communications, power, and technical infrastructure, making it a magnet for foreign investment.
Investing in Turkey
- Construction and real estate are booming because of population growth and city revitalization. The construction and real estate industries keep attracting investors.
- Real estate in Turkey is one of the safest investments you can make. Tourism has grown Turkey’s real estate business. Turkey is also a popular retirement destination for foreigners.
Invest in Turkish citizenship and get Turkish citizenship
- In 2016, Turkey introduced citizenship by investment. Getting a Turkish passport might be possible through real estate, capital transfers, or job creation.
- Under the Turkish citizenship by investment program, real estate has been the most popular route. You can get Turkish citizenship when you buy a property worth at least $400,000 for you and your family.
- Turkey is a beautiful and unique country with a lot of history, culture, and heritage. However, this country is well known for more than just its natural beauty. There are many investment opportunities available in Turkey for investors around the world. Investing in Turkish soil will certainly provide you with several other benefits. In addition, you should always check out the types of investment options available to you to choose the one that fits your needs and requirements.