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Why Türkiye?

Türkiye has become an emerging country to invest in for foreign investors of all industries with
its ever-growing economy, geostrategic value, and unrivaled opportunities it has to offer.

Located on two different continents, Türkiye serves as a bridge between the East and West, North and South axes. This characteristic of the country brings a significant advantage in terms of logistics and workforce, making Türkiye a robust investment center with reasonable costs for thriving markets.

Türkiye’s geographical advantage provides rapid access to a population of 1.5 billion including those of Europe, the Middle East, North Africa, and Central Asia, and to a market worth more than USD 20 trillion. As it is surrounded by sea on three sides and has constantly developing railway and highway lines while Turkish Airways flies to 255 destinations in 122 countries, the passenger transportation and freight shipment integratedly support commercial activities.

Türkiye is Europe’s third-largest country in terms of a qualified workforce. The youthful population in the country is the major reason for the growth achieved in the workforce and Türkiye’s strong position in the labor market, which is better than in many countries.

Türkiye broke a new record with regard to the economic growth it experienced between 2003 and 2008 and rose to 13^th place among the world’s largest economies in 2018 from 18th in 2003. (Source: IMF World Economic Outlook Report, April 2019 (IMF WEO) )

Türkiye Facts and Figures

Let’s take a look at the advantages a foreign investor benefits from when starting a business in Türkiye.

Productive and Qualified Workforce

Türkiye ranks higher on the list than many countries regarding the highly educated and competitive workforce it has. As of 2020, approximately 1 million undergraduates graduate from more than 200 universities every year. The workforce in Türkiye experiences the biggest growth among the EU countries as it becomes more and more productive every day.

Extensive Incentive Programs

Türkiye offers highly extensive incentive programs for investors where they benefit from low taxes whether they seek to expanse their investments or start one. Hundreds of leading global companies in automotive, energy, and retail industries take advantage of competitive R&D incentives. Additionally, companies established in Free Zones located in many areas in Türkiye are exempt from tax.

Liberal and Innovative Investment Environment

Compliant with international standards, the investment regulations encourage foreign direct investments and protect the rights of the investors. Various laws and implementations provide an environment where all investors share equal rights. Even though the country saw a decrease in foreign direct investments in 2020 due to the COVID-19 outbreak, the figures of the past 18 years illustrate an increase of approximately fifteenfold in the number of companies with international capital in Türkiye. Particularly İstanbul has become a strong attraction center for foreign investors.

Uninterrupted Reforms

Thanks to the reforms introduced in the fields of innovativeness of production, the sustainability of growth, qualified workforce, and collaboration in the international market, the average time period required to start a business shortened to 6.5 days from 38.

Huge Domestic and Regional Markets

In addition to its expanding domestic market, Türkiye also offers access to approximately 1 billion consumers in the regional market with the support of free trade agreements.

Strategical Location

Türkiye serves as a regional headquarters for international companies who aim to expand to different markets.

Demographics

Half of Türkiye’s population is under 32, which forms a youthful workforce with a strong potential. When compared to the EU countries, Türkiye is the country with the highest youth population. (Source: )

About Türkiye

Capital	:	Ankara
Official Name	:	Republic of Türkiye
Official Languages	:	Turkish
Government	:	Unitary Presidential Constitutional Republic
Geographical Location	:	Türkiye is located on the geographic coordinates of 36° - 42° North latitude and 26° - 45° East longitude. It is on the northern side of the Equator and the eastern side of Greenwich, the prime meridian.
Area	:	783.562 km²
Population	:	82 Million (Source: 2019, Eurostat )
Currency	:	Turkish Lira (TRY)
Time Zone	:	UTC+3
International Calling Code	:	+90
Driving Side	:	Right
Internet Domain Name	:	.tr

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Contents provided in this article serve to informative purpose only. The article is confidential and property of CottGroup^® and all of its affiliated legal entities. Quoting any of the contents without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance put in the preparation of this article, CottGroup^® and its member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject.

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