Turkey has always been a favorite due to its geographical position and its hospitality. These attributes make Turkey an important source of international and local investors to diverse sectors, including tourism as well as real estate. These have caused a surge of interest from investors.
According to data published from the Central Bank of Turkey, Turkey’s economy is one of the fastest to recover from the pandemic. The FDI flows into Turkey totaled $14.1 billion as of 2021. That’s an increase of 80.7 percent. Total FDI flows into Turkey between 2003 and 2021 totaled $239 billion.
Although there are a myriad of motives to invest in Turkey, let’s look at some compelling arguments.
Strategic Position
Turkey serves as an natural link connecting Asia to Europe. Both continents have a significant influence on its diverse culture. Istanbul is the most important in providing an access strategy to all major markets within these areas. According to data, Turkey has access to 955 million people through FTAs as well as the Customs Union. Istanbul is the 7th largest city within Europe in which the majority of the investment has been done.
11th Strongest Economic Activity in the World
It is believed that the Turkish economy has seen an unprecedented growth rate in recent years. It was once placed 13th, it has risen from 18th to 11th place globally from 2003 until 2020.
Turkey particularly Istanbul has a large entrepreneurial scene of founders and co-founders of startups. This indicates that there are plenty of possibilities for collaboration and networking.
Startups of all kinds can take part in acceleration programs, conference hackathons, co-working spaces and hackathons completely based on the concept of entrepreneurship.
Thanks to hybrid or digitally digitized models of programs and events, entrepreneurs from all over the nation are able to quickly learn from one others, develop something new in collaboration and join forces.
The incentives for Foreign Investments
The Government of Turkey aims to promote all foreign investment and hopes to create incentives for the various types of assets that professionals will come across. According to the Turkey’s Investment Office, seven profiles of investors are based on the quality of FDI. A few of the profiles investors encounter include:
Investment Reducing Import Dependency
R&D, Design and Innovation Center Investments
Technology for Investment and Knowledge Transfer
Investment Providing Incentive Employment
Investments that support Digital Transformation
Investments Providing High-Quality Employment
Export-oriented Investments
The Turkish government has designed a number of projects for the 2021-2023 investment strategy. They achieved this by analysing the latest investor expectations and requirements , and then fitting every action and plan in line with the latest developments.
Highly skilled and competitive workforce
The young and educated population of Turkey is an asset that is worth investing in for investors, who face major difficulties across Europe due to population decline and shrinking.
With its growing, young and vibrant population – the main reason behind an impressive labor pool as well as an impressive domestic market – Turkey has a great chance.
The population of Turkey in 2018 was recorded as 82 million. As per Turkish Statistical Institute Turkish Statistical Institute, it is projected to reach 86.9 million in 2023, and 100.3 million in 2040. The forecast is for the population to increase until 2069, when it will increase to 107.6 million.
Good Infrastructure
One of the primary reasons for investors from outside the country to consider investing anywhere is the availability of essential infrastructure and lower transport costs. Turkey has seen growth in the basic infrastructures including communications, transportation power, as well as technological infrastructure, making it an attractive destination of foreign investments.
How to invest in Turkey
Due to the rapid growth of population and city rejuvenation projects as well as the development of new cities, the real estate and construction industries are flourishing. Investors are finding the real estate and construction industries attractive and lucrative.
Many ways investing in real property from Turkey is the best investment you could make. Because of the increase in tourism, the real estate industry has expanded. Foreigners also have found Turkey an ideal destination for retirement. sought-after retirement destination.
Turkish Citizenship as Investment
Turkey has introduced the citizenship by investment in the year 2016. Through real estate purchases or capital transfer or employment creation, you may be eligible for the Turkish passport.
The acquisition of real estate has been the most sought-after route under Turkish citizenship through investment. It’s also the most affordable alternative: When you purchase the property at the minimum amount of $400,000, both you and the entire family will be able to be granted Turkish citizenship.
Conclusion
Turkey is a stunning and distinctive country that is full of heritage as well as culture and heritage. However, it’s not just the one thing about this country that is recognized. Turkey has a wide range of investment options for investors from all over the world. There are numerous other advantages when you are considering investing on Turkish territory. Beyond that it is important to examine the different investments available to pick the one that best suits your preferences and needs.
