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Reasons to Invest in Turkey

Reasons to Invest in Turkey

1. Growing at an average rate of 5.4% between 2002 and 2022.

2. Turkey's economic development performance has led to an increase in GNI per capita from USD 3,581 in 2002 to USD 10,655 in 2022.

3. It is highly competitive in terms of minimum wage.

4. Turkey offers easy access to a total population of 1.3 billion people and a market worth USD 28 trillion, covering Europe, the Middle East and North Africa region and Central Asia within a 4-hour flight.

5. Turkey offers unique opportunities with its young, dynamic and growing population, which underpins a strong labor market and vibrant domestic market.

6. With a labor force of 34.3 million people, Turkey has the second largest labor pool in Europe.

7. In 2002, the average number of days required to start a company was 38, while this number has been reduced to 7 in 2022.

8. Turkey has signed Double Taxation Avoidance Agreements (DTAs) with 86 countries, which allow for the deduction of a tax paid in one of the two countries from the tax due in the other, thus avoiding double taxation.

9. Turkey has signed Social Security Agreements with 34 countries and these agreements facilitate the movement of workers between countries

10. Turkey has extensive R&D incentives, a well-educated and skilled workforce, competitive cost advantages and is supported by many global companies operating in the market. The combination of all these elements creates a dynamic ecosystem in Turkey.

Reasons to Invest in Turkey