Turkey has emerged as a destination that offers attractive and lucrative opportunities for foreign investors thanks to its perfect climate with four seasons, historical past and historical beauties registered by UNESCO, three-sided seas, green nature, delicious and diverse international attractive food culture, friendly warm people, strategic location, favourable business environment and growing national and international market. The country’s economic growth and liberalised policies have brought international companies to the top of the list of countries in which Turkey can be invested, making Turkey a popular destination for foreign direct investment with a large domestic market as well as international markets with access to 1 billion consumers through Free Trade Agreements.
One of the most important reasons why Turkey is an excellent destination for foreign investors is its strategic location as well as the fact that it has become one of the fastest rising economies in the world with an average annual GDP growth rate of 5.4 per cent between 2003 and 2022. As a bridge between Europe and Asia, Turkey is a major gateway to markets in both regions, with its location close to both Europe and Asia offering excellent global connections for multinational companies. The country’s location at the crossroads of major trade routes has made it a hub for logistics and transport, and this geographical advantage, within a 3-hour flight distance, offers quick access to a population of 1.5 billion people and a market worth over USD 20 trillion, including Europe, the Middle East and North Africa region and Central Asia. Passenger and freight transport systems support trade efficiency in an integrated manner, with the country being surrounded by the sea on three sides, constantly developing railway and road lines, and Turkish Airlines’ flights to 122 countries and 255 destinations.
Turkey’s large domestic market as well as a highly productive, well-educated and competitive labour force is another factor that makes it an attractive destination for foreign investors. Turkey has a significant consumer base and domestic market with a population of over 80 million people, making it a game changer in a competitive world by realising new generation reforms through public-private partnership and reforms. A business environment free of barriers to International Direct Investment and with investor protection makes Turkey an ideal location for companies looking to expand their market reach. The country’s growing middle class, extensive subsidies and a unique location for technology development create a demand for goods and services, providing opportunities for foreign businesses to invest in sectors such as retail, e-commerce and healthcare.
Turkey’s young and educated labour force is highly skilled and has a high level of English proficiency. The government is also implementing policies to promote vocational education and training, and a diverse economy offering great opportunities in different sectors has made the labour force more competitive and attractive to foreign businesses.
The Turkish government has also implemented business-friendly policies, especially in recent years, and has accelerated programmes such as residence permits and citizenship for foreign citizens from Eastern European markets such as Russia, Kazakhstan and Uzbekistan, making it easier for these foreign investors to establish and operate businesses in the country. The government has simplified company establishment procedures, reduced bureaucracy and provided tax incentives for foreign businesses. The country’s investment incentive programme also provides financial support to foreign investors, encouraging them to invest in key sectors such as energy, tourism and technology.
In conclusion, Turkey’s strategic location, large domestic market, young and educated labour force and business-friendly environment make it an ideal investment destination for foreign investors. With its growing economy and liberal policies, Turkey offers numerous opportunities for businesses looking to expand their operations and expand into new markets.