By 2030, it's predicted that emerging markets will be powering the global economy. Countries with fast-growing populations, dynamic, youthful workforces and burgeoning industries will take a greater share than ever before. Along with Turkey, countries like Indonesia, India and Brazil will dominate world markets.
The lira crisis is on everyone's lips. Whether you consider it a disaster or an opportunity depends on where you're sitting. Financial collapse, or a chance to make a killing in a once-in-a-lifetime situation? Here, we look at the silver lining in the cloud, and explore the opportunities on offer for anyone with pounds or dollars in their pocket.
Bitcoin is taking over the world. Since its 2009 inception, the cryptocurrency has grown in value and popularity so that now it can be used to purchase anything from food to flights. Always eager to embrace new technologies, Property Turkey now offers a selection of properties available for purchase with Bitcoin. Director Cameron Deggin explains why the company is embracing Bitcoin.
As defined in their 2023 vision plan, Turkey has a goal to be one of the top performing economies in the world. Given that just 20 years ago, it was drastically underperforming, it is a big target to set. However, the Turkish government has a strategic game plan and they are the mega projects of Turkey, an impressive portfolio consisting of roughly 100 transport, energy and infrastructure endeavours, exceeding a construction cost of 100 billion USD.
For many people, the year 2023 will be important for Turkey. Not only because it will be the 100th anniversary of the formation of the Turkish Republic but also because the AKP ruling government have set themselves an impressive set of targets to achieve by this deadline. The records break down into specific categories focusing on the economy, energy, foreign policy, healthcare, transport and tourism.
Much of Turkey’s success in recent years and its strength to bounce back from disastrous situations has been its global alliances. The strategic plan to form diplomatic relationships with several countries around the globe includes courting the Chinese, who just happen to have the world’s second-biggest economy and largest population count. The reasons for doing this are plentiful, and it all starts with the Belt and Road Initiative.
After a stellar 2017 which saw growth beat expectations to reach 6 percent, experts are predicting the year ahead. While foreign direct investment and domestic growth will continue, the Turkish economy will be hampered by its current account deficit and the issue of inflation. Overall growth is expected to be around 5 percent over the next five years.
Erdogan's new fiscal measures are having a positive effect on the Turkish economy, which in turn is great news for anyone thinking of investing in Turkish property, as prices around the country - especially in Istanbul - continue to climb. Erdogan, who has spent the last 15 years transforming the country's economic fortunes, will need to continue his progress to keep voters onside.
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