Today, Istanbul is heralded as the new Dubai and is becoming a massive global business hub. Turquoise waters, historical monuments, a booming tourism sector, and Turkey’s increasingly important geopolitical position in the Middle East have put it on the map.
These factors are attracting investors from around the world so here is a closer look at what’s happening in Turkey and the investment opportunities.
How Turkey Has Been Attracting People From Around The World
Anyone visiting Turkey for the first time will notice that the people are friendly, and the country seems warm and inviting.
Turkey has a long and rich history as a trading hub, and many of its cultural practices, food, and language have origins in the Ottoman Empire.
The uptick in recent years has drawn investors from Turkey and abroad because Turkey has a large young population, abundant natural resources, and skilled workers. For businesses operating there, this presents a competitive advantage over other developed countries with high cost of doing Business.
Even though the country is a little difficult for foreign companies to operate in due to language barrier and cultural adjustments, it still has a chance to prosper because of a rising market.
How Turkey Is Becoming The New Dubai
Investing in Turkey is now at a largest scale than ever before. Media outlets continue to chronicle how much the country has transformed into a “new Dubai.” With political stability and economic growth accelerating, investments are flooding the country, and businesses are moving in.
Turkey is famous for its culture and cuisine, but did you know that Istanbul, Turkey is the fastest growing city in Europe. The country is booming, and more and more foreigners are moving to Turkey yearly. They are filling up the large cities, and Istanbul, the Turkey, is growing exponentially.
Turkey has all the amenities one could need, such as great shopping, restaurants, and entertainment.
The Benefits For Investors In Turkey
The Turkish economy ranks eighth in the world. It is economically stable, diverse, and regularly ranks in the top ten on most lists of the most democratic countries.
There are many benefits of investing in Turkey.
High economic growth: Turkey has enjoyed real GDP growth for the last several years because the Turkish government is keen on encouraging foreign companies to invest in Turkey, which in turn, will lead to more economic growth and diversification.
Easy access to capital: The Turkish government provides tax incentives to foreign investors, including reducing businesses’ corporate tax.
High demand: Turkey is an attractive investment destination for investors because of its strong domestic economy, abundance of natural resources, cheap skilled labour and high tourist demand.
Low risk: Turkey receives investment from around the world, and is home to thousands of foreign owned/ operated businesses which helps to develop a more stable economy.
Business Opportunities In Turkey, An Attractive Destination For Business
If you have your eye on starting a business, have you followed business opportunities in Turkey? Thanks to being an emerging market, Turkey has one of the leading markets because of rapid economic development and a significant rise in foreign investments.
What are the opportunities for businesses? just to name a few-
- Construction
- OCTG Technicians.
- Hazelnut Farming.
- Information Technology.
Conclusion
Turkey is the fastest growing economy in the world, with high growth potential. For investors across the world, Turkey provides a variety of investment options.
In addition, you should constantly consider the types of investment opportunities in Turkey before deciding the one that best suits your goals and expectations. So if you consider yourself a traveler, an investor, or a business person, it’s worth visiting.
