A Successful Economic Journey TURKEY Presented by Cenk Aydn Vice - - PowerPoint PPT Presentation
A Successful Economic Journey TURKEY Presented by Cenk Aydn Vice Chairman, International Cooperation Platform under the Patronage of the President of Turkish Republic Founder and CEO, Halikarnas Financial Services & Advisory OVERVIEW
Cenk Aydın Vice Chairman, International Cooperation Platform under the Patronage of the President of Turkish Republic Founder and CEO, Halikarnas Financial Services & Advisory
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Beautiful landscape… Unique location... Historical heritage… Combination of Contemporary and Traditional… Home of skilled people… Policy
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FASTEST RECOVERING ECONOMY SINCE 2008
FASTEST GROWING ECONOMY IN EUROPE FASTEST GROWING ECONOMY BETWEEN THE OECD COUNTRIES
An economy driven by entrepreneurial spirit of private sector, robust domestic market and lucrative export opportunities
80% US China India Japan UK Ita
TR Austra lia Poland
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33,7 million broadband internet subscribers (Q32013) 69 million GSM users (Q32013) 57 million credit card users (Q32013)
Turkey is the 16th largest automotive producer in the world (OICA 2012) Turkish Airlines is the fastest growing airline in Europe. It is chosen as the best airlines in Europe ( Skytrax 2011,2012,2013 ) 131 million airline passengers in Turkey (2012) Turkey is the 6th most visited holiday destination in the world (2012) Out of world’s top 100 best hotels 22 are from Turkey (TUI Holly, 2012)
Automotive: Target to produce
Transportation:Highway capacity planned to be tripled until 2023 Real Estate; Third most attractive real estate investment destination in 2012 (AFIRE); Istanbul is the most attractive real estate investment market in 2012 (PwC, ULI); more than $27 billion FDI over past decade. Finance: the most attractive sector with $39 billion FDI in the past decade. Energy; Strategic location for energy terminal and corridor; rapidly growing demand: over $100 billion investment is needed to meet the demand till 2023; privatization and diversification
ICT: Fastest growing IT companies in the region are from Turkey, 27 of the 500 fastest growing tech companies in EMEA are Turkish.
10 20 5 10 15 20 25
Foreign Direct Investment Inflows (Billion USD)
Annualized as of January 2014 Source: GBRT
There is an increasing confidence in the Turkish economy. Turkey moved up to number 13 in rankings in 2013 in the foreign direct investment confidence index from number 23 in 2010.
Source: A. T. Kearney
Based on 159 company responses, Turkey settled in the 19th place in transnational Corporations’ top prospective host economies for 2013-2015.
Source: UNCTAD
FDI inflows increased from 15bn$ between 1923-2002 to 123bn$ between 2003-2013.
Source: Central Bank of Republic of Turkey
POPULATION ACCESS TO INTERNATIONAL MARKETS TURKEY AS A HUB FOR ENERGY , MANUFACTURING AND TRANSPORTATION STRUCTURAL REFORMS AND OPPORTUNITIES IN TURKEY
Leadership Commercial Diplomacy Stability and Consistency Transparency Adoptability
Public Finance Reform, Banking Reform, Social Security Reform, Healthcare Reform Privatization & Enhancing Private Sector’s Role in the Economy Opening the Key Markets to Competition, and Regulation by Independent Agencies Improving the Investment Environment New R&D and Innovation Support Law
NEW FDI LAW
Income Tax 20% Access to Real Estate
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Turkey has one of the most liberal trade policies in the world. It has ranked the 5th according to the World Trade Indicators. Turkey has a Customs Union with the EU since 1996. Turkey has Free Trade Agreements with 21 countries. Tax Incentives, Land Allocation, R&D Support Liason Office Structure for Regional Hubs
YOUNG POPULATION Half of the population of Turkey is under the age of 30.
SKILLED LABOR FORCE
Turkey has a highly skilled labor force. Turkey has ranked 37th in the IMD World Competitiveness rankings for the number
senior managers.
Unemployment Rate for 2013 is 9,7% 77 Million People Vocational Schools 120+ Universities Golden Demographic Strong Domestic Demand 600,000 University Graduates Every Year
EUROPE & RUSSIA MENA REGION CENTRAL ASIA & CAUCASUS
EUROPE RUSSIA CENTRAL ASIA & CAUCASUS MENA REGION 1 3 2
TURKEY
GDP: $19 trillion Import: $6,5 trillion Population: 670 million GDP: $2 trillion Import: $335 billion Population: 142 million GDP: $3,8 trillion Import: $995 billion Population: 675million GDP: $390 billion Import: $97 billion Population: 82 million
Source: IMF World Economic Outlook and WTO; GDP, Imports and population figures as of 2012
1,5 billion people; 25 trillion $ GDP; 8 trillion $ trade
Coca Cola manages 94 countries from Turkey whereas Microsoft manages 80 countries from Turkey.
International connectivity is great for Turkey with more than 196 flight destinations, 10 international hubs for sea transport.
Turkey will be the 16th manufacturing hub in the world and 2nd in Europe over the next 5 years. (Deloitte,2013) R&D expenditures increased by 260 % between 2002 and 2011 in Turkey.