Turkish property & economy news
05 April 2020
Retail supermarket giant Migros hire 1,000 new staff The company behind Turkey’s supermarket chain, Migros, have confirmed their need to hire an additional 1,000 new members of staff to deal with the increased demand being put on them and to meet the online orders that have increased due to the outbreak of coronavirus in Turkey.02 April 2020
Demand for Automobiles remains high despite COVID-19 Even in the face of adversity, the automotive industry in Turkey is on target with regards to its growth expectations. Although coronavirus has meant that all vehicle production is halted, Turkey expects more sales when production can start again in July.02 April 2020
Istanbul Modern offering virtual exhibitions in light of COVID-19 Due to COVID-19 Coronavirus, the Istanbul Modern Museum has been forced to temporarily close in an effort to help contain the pandemic. Due to this, the Istanbul Modern museum is welcoming art enthusiasts to visit their website and digital platforms where their exhibitions and collections can be viewed virtually.29 March 2020
Turkey's economy to be one of the least hit by the pandemic Like most other countries, Turkey is battling the covid-19 pandemic that has swept around the world. However, top banking officials believe the country will be cushioned from the worst of the economic impacts that are expected to send the world into a recession. Turkey is introducing strict measures for its populace to control the spread of the virus.23 March 2020
Bilateral Trade between Turkey and USA to increase Recep Tayyip Erdogan, the President of Turkey confirmed that he and American President Donald Trump have agreed to keep their disputes to one side and forge ahead with their trade target of 100 billion USD between Turkey and the USA.22 March 2020
Each night at 9pm, Istanbul residents send up a cheer for frontline healthcare workers In a show of nightly solidarity, people in Istanbul cheer and bang pots and pans each evening to show their appreciation for health workers. The Turkish government, like most around the world, has rolled out stricter measures to curb the spread of coronavirus, including closing public places and shutting down flights.16 March 2020
COVID-19 and Turkish property: what investors should know The Coronavirus pandemic is upending economies and the tourism industry. But when it comes to property in Turkey, Cameron Deggin follows a maxim. "When there's blood on the streets: buy property." For overseas investors confined to internet shopping, there are ways and means to get your hand on a bargain, Deggin explains.12 March 2020
Tourist numbers in Turkey up by 16% In January, foreign visitors choosing to visit Turkey increased on a yearly basis by 16.1% with hotel occupancy rates increasing by 6.4% to reach 61.9% when compared to January 2019. Ministry data confirms that in January 2020, Turkey recorded their highest number of foreign visitors ever for January at approximately 1.8 million people.11 March 2020
Russian visitors to use Rubles in Turkey Munir Karaloglu, the governor of the southern city of Antalya in Turkey has confirmed recently that talks are ongoing between the capital city of Ankara and the capital city of Moscow to allow Russian tourists to use their own Rubles currency when visiting Turkey for vacations.11 March 2020
Record numbers using Turkish Railways Turkey’s transport minister confirmed that 2019 saw record increases in passenger and freight transportation on Turkey’s rail network. Cahit Turhan said that the huge success of the railway network is due to the investments that have been made to this mode of transport since 1950. Last year 8.3 million passengers travelled via high speed trains which equated to a 2% increase year on year.07 March 2020
Turkey grants citizenship to 5,000 foreign investors Following on from legislative amendments first put into place two years ago regarding Turkish Citizenship by Investment, new data released shows that there have been over 5,000 successful foreign investors who have been granted citizenship.07 March 2020
Turkish Airlines to increase flights to Mexico Due to increasing demand from Latin American tourists, particularly those from Mexico, Turkish Airlines has made the decision to increase flights to these areas of the world. Additional flights were announced from Istanbul to two cities in Mexico as of August last year.
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