1. SUCCESSFUL ECONOMY

Rapidly developing economy; GDP, which was 231 billion USD in 2002, increased more than three times in 2018 and reached 784 billion USD (TURKSTAT)

Stable economic growth; Annual average real GDP increased by 5.5% between 2002 and 2018 (TURKSTAT)

A promising economy (OECD) expected to be one of the fastest growing economies among OECD member countries in 2018-2024, with an average annual real GDP growth rate of 5.5%

The world’s 13th largest economy in 2018 and the 5th largest economy compared to the EU region (GDP, IMF WEO by Purchasing Power Parity)

Institutionalized economy (CBRT) attracting USD 209 billion of FDI in the last 16 years

A dynamic and mature private sector (TURKSTAT) with an export volume of $ 168 billion, up 366% between 2002 and 2018

2. POPULATION

82 million population (2018, TurkStat)

Most populated young population compared to the EU (Eurostat)

Half the population under the age of 32 (2018, TURKSTAT)

Young, dynamic, educated and multicultural population

3. QUALIFIED AND COMPETITIVE WORKFORCE

Over 32.3 million young, educated and motivated professionals (2018, TurkStat)

Increased employee productivity

Over 800,000 graduates annually from more than 183 universities (2018, YÖK)

Over 985,000 high school graduates, half of them from vocational and technical high schools (2018, MEB)

4. A LIBERAL AND INNOVATIVE INVESTMENT ENVIRONMENT

The second largest reformer among OECD member countries in terms of restrictions on foreign direct investment since 1997 (OECD FDI Regulations Restriction Index 1997-2017)

A business-friendly environment that offers company setup in an average of 6.5 days (World Bank Business Report 2018)

Extremely competitive investment conditions

A strong industry and service culture

Equal treatment to all investors

About 65,500 foreign capital companies (Ministry of Commerce) in 2018

International arbitration

Transfer guarantee

5. INFRASTRUCTURE

New and improved technical infrastructure in the transportation, telecommunications and energy sectors

Highly developed, low cost sea transportation

Advantage of transportation to Central and Eastern Europe by rail

Well-structured transportation facilities and direct shipping mechanism to most EU countries

6. CENTER LOCATION

Acting as a natural bridge between East-West and North-South, it is an effective and cost-effective starting point leading to important markets

Easy access to 1.7 billion customers in Europe, Eurasia, the Middle East and North Africa

Access to a large number of markets with a total GDP of $ 27 trillion

7. EUROPE'S ENERGY CORRIDOR AND TERMINAL

An important energy terminal and gateway connecting East and West

More than 70% of the world’s proven primary energy reserves, while in regions very close to Turkey, Europe, the largest energy consumer, the key point in western Turkey taking place in the country in energy transfer in the region, has this to an energy terminal

8. LOW TAXES AND INCENTIVE OPPORTUNITIES

Corporate Tax (33% from 33% to 20% for 2018, 2019 and 2020)

Land allocation as well as tax benefits applied for Technology Development Zones, Industrial Zones and Free Zones such as full or partial exemption from Corporate Tax and support for employers’ social security share.

R&D Law

Strategic investments, large-scale investments and incentives for regional investments

9. CUSTOMS UNION WITH THE EU SINCE 1996

Customs Union with the EU in force since 1996 and Free Trade Agreement with 22 countries (Ministry of Trade)

New Free Trade Agreements under study

Accession negotiations with the EU

10. LARGE DOMESTIC MARKET

Number of broadband internet subscribers from 0.1 million to 72 million between 2002-2018 (BTK, TurkStat)

The number of mobile phone subscribers that increased from 23 million to 80.6 million between 2002-2018

Number of credit card users from 16 million to 66.3 million between 2002-2018 (Interbank Card Center)

The number of airline passengers increased from 33 million to 211 million between 2002-2018 (DHM İ )

The number of foreign tourists (13.2 to 45.6 million) between 2002 and 2018 (TURKSTAT)

Project 1453. All Rights Reserved. 2019