Booming economy (USD 230 billion to USD 736 billion of GDP from 2002 to 2010)
Sustainable economic growth (4.8 percent annual average real GDP increase for the last 8 years)
Promising economy with a bright future as it is expected to be the fastest growing economy among the OECD members during 2011-2017 with an annual average real GDP growth rate of 6.7 percent
16th largest economy in the world and 6th largest economy compared with the EU in 2010
Institutionalized economy fueled by over USD 94 billion of FDI in the last 8 years and ranked as the 15th most attractive FDI destination for 2008-2010 (UNCTAD)
2. Population
A population of 74 million people
Largest youth population compared with the EU
Half the population under the age 29
Young, dynamic, well-educated and multi-cultural population
*2010 data
3. Qualified And Competitive Labor Force
Over 25 million young, well-educated and motivated professionals
Increasing labor productivity combined with decreasing real unit wage
4th largest labor force compared with the EU
The longest working hours, and the lowest sick day leaves per employee in Europe (53.2 hours worked per week and annual average of 4.6 sick days per employee)
Approximately 500,000 graduates from 156 universities
Around 663,000 high school graduates, including one third from vocational and technical high schools
*2010 data
4. Liberal And Reformist Ä°nvestment Climate
A dynamic and mature private sector with USD 114 billion worth of exports and an increase of 225 percent between 2002 and 2010
Business-friendly environment with average of 6 days to set-up a company, while the average in OECD members is more than 13 days
Highly competitive investment conditions
Strong industrial and service culture
Equal treatment for all investors
More than 25,000 companies with international capital
International arbitration
Guarantee of transfers
5. 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
6. Centrally Located
A natural bridge between both East-West and North-South axes, thus creating an efficient and cost effective outlet to major markets
Easy access to 1.5 billion customers in Europe, Eurasia, the Middle East and North Africa
Access to multiple markets worth USD 23 trillion of GDP
7. Energy Corridor And Terminal Of Europe
An important energy terminal and corridor in Europe connecting the East and West
70 percent of energy resources are located in the south and the east of Turkey, while the largest energy consumer, Europe, is located in the west of Turkey.
8. Low Taxes & Incentives
Corporate Income Tax reduced from 30 percent to 20 percent
Individual Income Tax varies from 15 percent to 35 percent
Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones could include total or partial exemption from Corporate Income Tax, up to 80 percent grant on employer’s social security share, as well as land allocation.
R&D and Innovation Support Law
Region and sector-based incentive system
9. Customs Union With The EU Since 1996
Customs Union with the EU since 1996, and Free Trade Agreements (FTA) with 20 countries
More FTAs underway
Accession negotiations with the EU
10. Large Domestic Market
35 million internet users in 2010, up from 4 million in 2002
62 million GSM users in 2010, up from 23 million in 2002
46 million credit card users in 2010, up from 16 million in 2002
Over 102 million airline passengers in 2010, up from 33 million in 2002
28.5 million international tourist arrivals in 2010, up from 13 million in 2002
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