Turkey is an attractive country for investments on a long term, according to the Ernst&Young report “Turkey Attractiveness Survey” and “The Doing Business Report” published by the World Bank. Turkey can be ranked the 12th economy in the world in 2030, as the specialists from PricewaterhouseCoopers expect, and the 8th by 2050, according to those from Goldman Sachs.
The report from Ernst&Young states that foreign investments in Turkey have grown since 2007, despite the economic crisis that has affected almost all the major countries in Europe. The interest of the foreign entrepreneurs to open companies in Turkey is due to this country strategic location between two continents, with very good transport facilities and logistic means, very important for developing a business especially in export & import field.
Turkey has also a solid economy that has grown year after year and the authorities offer important incentives to businessmen interested in setting up companies in the special investment zones.
Investors, confident in Turkish economy
Investors are confident that the Turkish economy will grow in the future and 80% from the entrepreneurs questioned by E&Y said that they expect an improvement in investments in Turkey. This country is ranked 2th in the world and on the first place regarding the investor confidence is Brazil.
Almost one third of the foreign investments in Turkey, from 2007 to 2012, were made by American companies interested in fields such as: business service, chemicals, transport and logistics, which attracted also investors from EU, mostly from Germany, France and UK.
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Istanbul, the most successful city in Turkey
Most investors are interested in opening companies in Istanbul, one of the most attractive towns in Turkey where over half of the foreign investments came starting 2007 to 2012. The foreigners appreciate the good infrastructure, skilled workforce and the good location of the country. Other towns chosen by the foreign investors to grow their business were: Izmir, Ankara and Bursa.
The foreign investments on a long term are expected to grow and the Turkish authorities should take action to eliminate bureaucracy and corruption. Turkish economy is considered an emerging market, along with the BRIC nations, and the political instability at the beginning of 2014 seems to affect the economic growth.
If you need detailed information about the business opportunities in Turkey, you can contact our lawyers in Turkey.