- March 5, 2018
- Posted by: Cemal Sert
- Category: Investing in Turkey
There are many reasons why you would want to invest in Turkey. The country has had a booming economy and more than trippled its GDP. Reaching $857 billion in 2016, up from $ 231 billion in 2002. The Turkish Statistical Institure (TurkStat) figures show an annual real Gross Domestic Product (GDP) growth rate of 5.6% between 2002 and 2016.
They also state that the country has a bright future as it is expected to become one of the fastest growing economies among the Organization for Economic Cooperation and Development (OECD) members during 2017-2020 with an average annual real GDP growth rate of 5.4%
Turkey is the 13th largest economy in the world and the 5th largest economy compared with the EU in 2016.
With over 30.5 million young educated and motivated professionals the country has a qualified and competitive labor force.
Turkey has a highly developed technological infrastructure in transportation and telecommunications. It has a well developed and low-cost sea transport facitities and well established transportation routes to Europe.
The countries natural bridge between both east-west and north-south axes creates an efficient and cost-effective outlet to all of the major markets and customers in Europe, Eurasia, the Middle East and North Africa.
Tax benefits and incentives in Technology, Industrial and Free Zones includes total or partial exemption from Corporate Income Tax.
Sine 1996 Turkey is in the Customs Union with the EU, has Free Trade Agreements with 27 countries and more are underway.