Turkey is still a fresh market for African investor. When it comes to investing in Europe most Africans are silent on relocation or opening a business in Turkey. That market which seems untapped is beginning to gain major grounds as a profitably market for foreign investors
Despite the ongoing economic crisis, the world has been fighting for several years, Turkey is still one of the booming and stable markets to invest in according to the data provided by the different world economic and statistics institutions.
According to IMF, Turkey is an emerging market economy , hence is one of the world’s newly industrialized countries. The country is among the world’s leading producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances. In recent years, Turkey has had a rapidly growing private sector, and still plays a major role in industry, banking, transport, and communications.
. We have listed out some reasons why African investors need to invest Turkey
1. Turkey is the 16th largest economy in the world and 6th largest economy compared with the EU in 2012
- One of the fastest growing economies in the world
- it is expected to become the fastest growing economy among the OECD members during 2012-2017 with an average annual real GDP growth rate of 5.2 percent
2. Turkey has a population of 74 million with a large domestic market
- 20 million broadband internet subscribers
- 68 million mobile phone subscribers
- 54 million credit card users
- 131 million airline passengers
- 31.8 million international tourist arrivals
3. It is the world’s 13th most attractive destination for Foreign Direct Investment
4. Infrastructure
- New and highly developed technological infrastructure in transportation, telecommunications and energy
- Well-developed and low-cost sea transport facilities
- Railway transport advantage to Central and Eastern Europe
- Well-established transportation routes and direct delivery mechanism to most of the EU countries
5. It has a highly competitive investment incentives as well an exclusive R&D and innovation support law
6. Around 26 million well-trained and motivated labor force
7. Stable economic growth with an average annual real GDP growth rate of 5.2 percent over the last 9 years
8. Turkey is An important energy terminal and corridor in Europe connecting the East and the West. It has about 70 percent of the world’s proven primary energy reserves, while the largest energy consumer, which is Europe, is located right to the west of Turkey. The country is cornerstone in energy transit and an energy terminal in the Europe.
For individuals seeking to invest in Turkey , doing so now won’t be a bad idea as the market is still emerging.
Next time we would be detailing out some of the investment opportunities in Turkey hence you might want to bookmark this blog.
The Nigerian-Turkish Investors Forum 