5 Great Reasons to Invest in Turkey. Your best option for expanding your business in Turkey is to invest in the real estate market. Of course, Turkey has a developing economy, with a young population that is expanding quickly and an increase in the number of significant companies flourishing rapidly day by day.
There are many advantages to invest in Turkey, here are the 5 top ones:
1- Strategic Location where Europe & Asia Connects
Turkey is characterized by its strategic location between Asia & Europe which set it as a Middle Corridor of the New Silk Road project. However, the country continues gaining a special value regarding this strategic location in shaping its history, culture, economy, and international relations. Its vitality as a bridge between two continents remains significant in various aspects, making it a country of great geopolitical importance. Here are the explaining reasons behind that:
Geopolitical Bridge: Turkey is often referred to as a bridge between the two continents due to its geographical position. It straddles two key regions and serves as a natural land bridge connecting Asia and Europe. This unique location has made Turkey a critical crossroads for trade, cultural exchange, and diplomatic relations between the East and the West.
Trade & Commerce: Turkey's location at the crossroads of Europe and Asia has facilitated significant trade routes throughout history. The country's proximity to major markets in both continents has attracted merchants and investors, leading to increased economic activity. Istanbul, Turkey's largest city, has been a major trading hub for centuries, further enhancing its significance in global commerce.
Energy Transit Routes: The strategic location of Turkey also plays a crucial role in the transportation of energy resources between the Middle East, Central Asia, and Europe. Pipelines and shipping routes passing through Turkey carry oil, natural gas, and other energy resources, making the country a vital link in the energy supply chain.
Cultural Exchange: Turkey's location between Asia and Europe has resulted in a rich and diverse cultural heritage. Throughout history, the region has been a melting pot of different civilizations, religions, and cultures. This blending of influences has given rise to a unique Turkish culture that has elements from both continents, making it a significant cultural bridge as well.
Diplomatic Importance: Given its location, Turkey has often served as a mediator in regional and international conflicts. Its position as a bridge between East and West allows it to play a pivotal role in diplomatic efforts and peace negotiations, contributing to stability in the broader region.
NATO & Regional Security: Turkey's position as a gateway between Asia and Europe makes it a crucial member of the North Atlantic Treaty Organization (NATO). Its membership in NATO strengthens the alliance's eastern flank and enhances security cooperation in the region.
Tourism: Turkey's location as a bridge between Asia and Europe has also contributed to its attractiveness as a tourist destination. The country's diverse landscapes, historical sites, and cultural richness draw visitors from both continents, making tourism a significant contributor to the country's economy.
2- Top 20 Strongest Economy in the world
Basically, political stability, currency fluctuations, regulatory changes, and external factors can impact the investment climate. Therefore, careful consideration and due diligence are essential when exploring investment opportunities in Turkey or any other country.
Another encouraging reason to consider investment in Turkey is its strong economy due to several factors that make it an attractive destination for businesses and investors:
Diversified Economy: Turkey boasts a diversified economy with a mix of industries, including manufacturing, agriculture, services, and tourism. This diversification reduces the dependency on any single sector, making it more resilient to economic fluctuations.
Strategic Location: As mentioned earlier, Turkey's geographical position as a bridge between Europe and Asia offers unique advantages for trade and investment. Its proximity to major markets in both continents facilitates access to a large consumer base and trade routes, enhancing business opportunities.
Young and Educated Workforce: Turkey has a large and relatively young population, with a significant portion having received higher education. This skilled and competitive workforce provides a strong foundation for businesses looking to tap into talent and innovation.
Growing Middle Class: The country has experienced a growing middle class with increasing purchasing power. This expanding consumer base creates demand for goods and services, presenting opportunities for companies to target a larger market.
Market Size: With a population of around 80 million people, Turkey offers a sizable domestic market for businesses. Companies can benefit from this large consumer base to scale their operations and gain a competitive edge.
Customs Union with the EU: Turkey has a customs union agreement with the European Union, providing preferential access to the EU's market for industrial goods. This agreement enhances Turkey's export potential and stimulates foreign direct investment.
Infrastructure Development: The Turkish government has invested significantly in infrastructure projects, including transportation, energy, and telecommunications. These developments improve connectivity and logistics, making it easier for businesses to operate efficiently.
Government Incentives: The Turkish government offers various incentives and support mechanisms to attract foreign investment. These include tax incentives, grants, and subsidies for specific industries, helping create a favorable investment climate.
Strong Banking Sector: Turkey's banking sector is well-regulated and robust, providing stability and financial services support to businesses and investors. This strengthens the overall economic environment and confidence in the financial system.
Natural Resources: Turkey is rich in natural resources, such as minerals, agricultural products, and renewable energy potential. Investment in these sectors can leverage the country's resource endowments and contribute to economic growth.
Entrepreneurial Spirit: Turkey has a vibrant entrepreneurial culture, with a growing number of startups and innovative companies. This fosters a dynamic business environment and opens up opportunities for collaboration and investment in new ventures.
3- Skilled & competitive workforce
In addition to the above factors, the skilled workforce that is considered great and powerful is also essential for investment in Turkey for these reasons:
Young and Growing Population: Turkey has a relatively young population, with a significant percentage of its citizens being under 30 years old. A young workforce brings energy, adaptability, and a willingness to learn which are essential attributes for a strong and dynamic labor force.
Large Labor Pool: Turkey has a sizable labor force, making it one of the largest in the region. The large labor pool provides businesses with a wide range of skilled and unskilled workers to meet various industry needs.
Education and Training: Turkey has invested in education and vocational training, resulting in a more skilled and educated workforce. The country has numerous universities and technical institutions that produce graduates with expertise in various fields, contributing to the nation's human capital.
Multilingual Abilities: Many Turkish citizens are bilingual or multilingual with a significant portion having proficiency in English, in addition to their native Turkish language. This language advantage enhances communication and collaboration with international partners, making Turkey more attractive for global businesses.
Entrepreneurial Spirit: Turkey has a strong entrepreneurial culture, with many individuals exhibiting an innovative and entrepreneurial mindset. This spirit fosters a dynamic and creative workforce that contributes to the growth of startups and small businesses.
Cultural and Historical Heritage: Turkey's rich cultural and historical heritage fosters a sense of creativity and adaptability in its workforce. This heritage has shaped the country's people to be open to diverse perspectives and able to navigate through different challenges.
Manufacturing and Industry Experience: Turkey has a long history of industrial and manufacturing activity. This experience has led to a skilled workforce in areas like textiles, automotive, electronics, and more, attracting investment in these sectors.
Strong Work Ethic: Turkish culture values hard work and diligence, which translates into a committed and productive workforce. This work ethic contributes to the country's economic development and success.
Geopolitical Position: Turkey's strategic location at the crossroads of Europe, Asia, and the Middle East has exposed its workforce to diverse cultures and global influences. This exposure fosters adaptability and an understanding of international business practices.
Government Support: The Turkish government has implemented various initiatives to support workforce development, vocational training, and the promotion of employment. These efforts have enhanced the capabilities and productivity of the workforce.
4- Good infrastructure
Turkey's commitment to infrastructure development has been a key factor in sustaining its economic growth and positioning the country as a competitive destination for both domestic and foreign investors.
However, Turkey has made significant efforts to develop and maintain a good infrastructure which has played a crucial role in driving economic growth and attracting investment. Several factors contribute to Turkey's relatively strong infrastructure like:
Strategic Location: As a bridge between Europe and Asia, Turkey's strategic location has made it an important hub for international trade and transit. This positioning has motivated the government to invest in infrastructure to improve connectivity and transportation links.
Economic Growth & Investment: Turkey has experienced sustained economic growth over the past few decades, leading to increased government revenue and investment capabilities. The government has channeled a significant portion of these resources into developing infrastructure projects.
Transportation Network: Turkey has a well-developed transportation network, including modern highways, railways, and airports. Major cities are well-connected, facilitating the movement of goods and people across the country efficiently.
Istanbul as a Global Hub: Istanbul, Turkey's largest city, has emerged as a global economic and financial hub. The city's infrastructure development has been a priority to accommodate the increasing business activity and attract international investors.
Energy Infrastructure: Turkey has invested in energy infrastructure, including natural gas pipelines, oil terminals, and renewable energy projects. This has improved energy security and enabled the country to act as an important energy transit hub between suppliers and consumers.
Telecommunications: Turkey has seen significant advancements in telecommunications infrastructure, with widespread mobile phone coverage and internet connectivity. This has facilitated business operations, e-commerce, and communication across the country.
Urban Development: Turkish cities have undergone considerable urban development, including the construction of modern buildings, business districts, and public spaces. This has enhanced the overall quality of life for residents and contributed to the urbanization process.
Tourism Infrastructure: As a popular tourist destination, Turkey has invested in tourism-related infrastructure such as hotels, resorts, and cultural facilities. The country's efforts to enhance the tourism experience have contributed to its attractiveness to international visitors.
Government Initiatives: The Turkish government has actively promoted and supported infrastructure development through various initiatives, public-private partnerships, and incentives to attract private investment.
Regional Development: The government has focused on developing infrastructure in less developed regions to promote balanced regional growth and reduce disparities in economic opportunities.
5- Citizenship opportunity for investors
The Turkish Citizenship by Investment Program is considered interesting and appealing due to several reasons making it an attractive option for individuals seeking citizenship in Turkey:
Fast-track Citizenship Process: The program offers a relatively fast and straightforward process for acquiring Turkish citizenship. Eligible applicants can obtain citizenship within a few months, compared to other countries where the citizenship application process can take years.
Reasonable Investment Threshold: The investment requirements for Turkish citizenship are relatively reasonable compared to many other citizenship-by-investment programs. This makes it more accessible to a broader range of investors.
Diverse Investment Options: Turkey offers various investment options to qualify for citizenship. Investors can choose from options like real estate investment, capital investment, job creation, or bank deposits, allowing them to select the one that best suits their preferences and financial capabilities.
Visa-free or Visa-on-arrival Access: Turkish citizenship grants visa-free or visa-on-arrival access to numerous countries, including many in Europe, Latin America, and Asia. This added mobility benefit makes Turkish citizenship appealing to frequent travelers or those looking for expanded global opportunities.
Growing Economy: Turkey has a large and growing economy, offering potential for business opportunities and financial growth. Obtaining Turkish citizenship allows investors to take advantage of the country's economic potential and access its markets.
Geopolitical Position: Turkey's strategic location between Europe, Asia, and the Middle East provides numerous business advantages. Being part of Turkish society opens doors to regional trade and cooperation opportunities.
Lifestyle and Culture: Turkey is known for its rich history, diverse culture, and beautiful landscapes. Acquiring citizenship allows individuals and their families to enjoy the lifestyle and benefits of living in Turkey.
Generous Family Inclusion: Turkish citizenship is extended to the investor's spouse and dependent children, providing a secure future for the entire family.
Residency Perks: While the citizenship process is underway, investors can benefit from Turkish residency. This provides them with an opportunity to experience the country and its advantages before gaining full citizenship.
No Requirement for Language Proficiency: Unlike some other citizenship programs, Turkey does not require applicants to demonstrate language proficiency, making it more accessible to a broader international audience.
Through the above reasons, choosing Turkey over other countries for investment is based on the specific goals and preferences of individual investors. However, several compelling reasons make Turkey an attractive investment destination compared to other countries. However, consulting with financial advisors and legal experts can help investors make informed decisions aligned with their investment strategies to gain the promising safe investment that they are looking for in Turkey.
