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rss 02-11-15

Turkish Retail Continues to Grow

 

Good news for both retailers and investors as the Turkish retail sector continues to expand. Total household spending is predicted to increase by around 5% in the period from 2016-2019. This presents a whole range of opportunities according to …

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growing-economy

TurkeyGrowing Economy

The Turkish economy has shown remarkable performance with its stable growth over the last eight years. While many economies have been unable to recover from the recent global financial turmoil, the Turkish economy expanded by 9.2% in 2010, and 8.5% in 2011, thus standing out as the fastest-growing economy in Europe, and one of the fastest-growing in the world. Provisional estimates indicate that further growth was achieved in 2012.

The government has ambitions to become one of the world’s Top-10 economies by 2023 when the Republic of Turkey will celebrate its centenary. Today, employment is increasing fast, with thousands of jobs created every year in new industries, particularly in the service sectors. Some 65% of the population is younger than 24, a statistic which the financially conservative government sees as a competitive advantage that will continue to drive Turkey’s growth and maintain its position as a large and growing force to be reckoned with internationally.