SUCCESSFUL ECONOMY, POPULATION, QUALIFIED AND COMPETITIVE LABOR FORCE, LIBERAL AND REFORMIST INVESTMENT CLIMATE, INFRASTRUCTURE, CENTRALLY LOCATED, ENERGY CORRIDOR AND TERMINAL OF EUROPE, LOW TAXES & INCENTIVES, CUSTOMS UNION WITH THE EU SINCE 1996, LARGE DOMESTIC MARKET
1. SUCCESSFUL ECONOMY
Booming economy; more than tripling its GDP, reaching USD 786 billion in 2012, up from USD 231 billion in 2002 (TurkStat)
Stable economic growth with an average annual real GDP growth rate of 5 percent over the past decade (TurkStat)
Promising economy with a bright future as it is expected to become the fastest growing economy among the OECD members during 2012-2017 with an average annual real GDP growth rate of 5.2 percent (OECD Economic Outlook No. 91)
16th largest economy in the world and 6th largest economy compared with the EU in 2012 (GDP at PPP, IMF WEO)
Institutionalized economy fueled by USD 123 billion of FDI in the last decade and ranked as the 13th most attractive FDI destination in 2012 (A.T. Kearney FDI Confidence Index)
A dynamic and mature private sector with USD 153 billion worth of exports and an increase of 325 percent between 2002 and 2012 (TurkStat)
2. POPULATION
A population of 76 million (2012, TurkStat)
Largest youth population compared with the EU (Eurostat)
Half the population under the age 30.1 (TurkStat)
Young, dynamic, well-educated and multi-cultural population
3. QUALIFIED AND COMPETITIVE LABOR FORCE
Over 27 million young, well-educated and motivated professionals (TurkStat)
Increasing labor productivity
Approximately 600,000 students graduate annually from over 170 universities (2012, Student Selection and Placement Center-OSYM)
More than 700,000 high school graduates with around half from vocational and technical high schools (2012, Ministry of National Education)
More than 33,000 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 25 trillion of GDP
7. ENERGY CORRIDOR AND TERMINAL OF EUROPE
An important energy terminal and corridor in Europe connecting the East and the West
Located at a close proximity of more than 70 percent of the world’s proven primary energy reserves, while the largest energy consumer, which is Europe, is located right to the west of Turkey, thus making the country a linchpin in energy transit and an energy terminal in the region
8. LOW TAXES & INCENTIVES
Corporate Income Tax reduced from 33 percent to 20 percent
Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones could include total or partial exemption from Corporate Income Tax, a grant on employer’s social security share, as well as land allocation
Customs Union with the EU since 1996, and Free Trade Agreements (FTA) with 22 countries
More FTAs underway
Accession negotiations with the EU
10. LARGE DOMESTIC MARKET
20 million broadband internet subscribers in 2012, up from 0.1 million in 2002
68 million mobile phone subscribers in 2012, up from 23 million in 2002
54 million credit card users in 2012, up from 16 million in 2002
131 million airline passengers in 2012, up from 33 million in 2002
31.8 million international tourist arrivals in 2012, up from 13 million in 2002
Source: www.invest.gov.tr
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