Since the 2020 epidemic, many countries around the world have experienced economic depression, but Turkey has grown against the trend, ranking second among all OECD economies, even surpassing most developed countries!

Turkey's economy is highly optimistic

Let us look at a set of data:

Recently, in a forecast report released by the World Bank, Turkey’s economic growth in 2021 was revised up from the previously expected 5% to the latest 8.5%, reaching the highest level in the past eight years. Export growth has soared in tandem with strong external demand, especially demand from the Eurozone.

Speaking at the Turkey-Angola Business Forum, President Erdogan said: “Although most of the Group of Twenty (G20) have surrendered at the peak of the epidemic in 2020, we have become the second largest growth rate with a growth rate of 1.8%. country."

According to data from the Turkish Statistics Agency (TurkStat), the economy grew by 7.2% in the first quarter of 2021. With the help of the base effect, it grew by 21.7% in the next three months, the highest growth rate announced since 1999.

Recently, the international credit rating agency Fitch released the "Global Economic Outlook Report", pointing out that the world economy will grow by 6% this year. The rating report pointed out that Turkey's economic recovery is still continuing, and at the same time, it raised Turkey's growth forecast for this year from 7.9% to 9.2%.

In the recently released "European Investment Attraction" survey report, due to the turbulence and uncertainty caused by COVID-19 in 2020, the number of foreign direct investment projects in Europe has dropped by 13%, but the number of foreign direct investment projects in Turkey has increased. 18%, making the country one of the largest investment destinations in Europe.

Whether it is forecast reports or actual data, they all point to the continuous improvement of the overall economy of the Turkish country, which has huge development potential and is one of the fastest-growing economies in the world.

Turkey's pillar industry

Apart from the real estate industry and tourism, which are the pillar industries that support Turkey’s economic development, what else are there? Let's take a look!

Turkey is another booming emerging economy after China, Russia, India, Brazil and South Africa and other "BRIC countries". It enjoys the reputation of "New Diamond Country" in the international community and has become a member of the "Economic Security Council" of the G20. member.

Real estate industry

Real estate is a pillar industry in Turkey. In order to attract foreign investors, the "infrastructure madman" Turkey's infrastructure investment has increased from 200 billion yuan in 2008 to 1.2 trillion yuan in 2018, which has increased six times in 10 years.

The investment immigration policy has injected new vitality into the Turkish real estate industry. Judging from the investment immigration data in recent years, Turkey's investment immigration has been launched only about two years ago, and it has attracted more than 2,000 investment immigration applications from around the world, and this data is growing exponentially every year.

According to the house sales statistics released by the Turkish National Bureau of Statistics, Turkey sold a total of 141,400 units in August 2021, continuing to maintain a strong growth trend!

Tourism

Tourism is not only a pillar industry in Turkey, but also an important source of foreign exchange income. Turkey has hosted the World Tourism Awards Ceremony, known as the "Oscar" many times, and has won many world-class tourism awards.

As the 10th most popular tourist destination in the world, statistics from the Turkish National Bureau of Statistics show that in the second quarter of 2021, it attracted more than 4 million tourists, of which nearly 3.1 million were foreign tourists. Another set of data shows that the tourism revenue in the second quarter exceeded US$3 billion, and 73.1% came from foreign tourists.

Up to now, Turkey's tourism-related data in 2021 has exceeded what has been called "the best 2019 in the tourism industry".

With its superior geographical location, existing potential large projects and ambitious goals for 2023, Turkey's tourism industry continues to grow at a rate that exceeds its reception capacity.

Foreign trade

The Republic of Turkey is a country that straddles Asia and Europe. It borders the Black Sea to the north, the Mediterranean Sea to the south, and the Aegean Sea to the west. Its geographical location is extremely important and it is the crossroads connecting Asia and Europe. Therefore, foreign trade is also one of its main industries.

With the rapid development of the national economy, the total value and volume of foreign trade continue to increase. The main imported commodities are crude oil, natural gas, chemical products, machinery and equipment, steel, etc.; the main export products are agricultural products, food, textiles, clothing, metal products, vehicles and spare parts, etc. In recent years, steel, automobiles, home appliances and machinery products have gradually entered the international market.

mineral resources

Turkey is one of the world's 10 largest mineral resource countries and the 28th largest mining country with a total reserves of 50 billion tons and a total value of more than 2 trillion US dollars. The diversity of mineral resources ranks tenth in the world. Among the 90 mineral resources that can be traded in the world, there are 77 in Turkey. Among them, Turkey has the largest underground reserves of dolomite in the world.

Speaking of Turkey, what comes to mind is the colorful hot air balloon inlaid all over the sky. In fact, apart from hot air balloons, Turkey is also a country suitable for living, working, traveling and investing.

At present, Turkish deposit immigration procedures are simple and convenient, the approval time is fast, there is no language, education, residence, no source of funds proof, no criminal proof and other requirements. The whole process can be handled domestically. Many banks in Turkey can open accounts remotely without logging in. , Greatly convenient for investors!

For more information about Turkish immigration, please feel free to contact us.