Booming economy; more than tripling its GDP, reaching USD 800 billion in 2014, up from USD 231 billion in 2002 (TurkStat)
Stable economic growth with an average annual real GDP growth rate of 4.7 percent between 2002 and 2014 (TurkStat)
Promising economy with a bright future as it is expected to become one of the fastest growing economies among the OECD members during 2014-2016 with an average annual real GDP growth rate of 3.6 percent (OECD, February 2015)
16th largest economy in the world and 6th largest economy compared with the EU in 2013 (GDP at PPP, IMF WEO)
Institutionalized economy fueled by USD 144 billion of FDI in the last decade (CBRT)
A dynamic and mature private sector with USD 158 billion worth of exports and an increase of 250 percent between 2004 and 2014 (TurkStat)
A population of 77.7 million (2014, TurkStat)
Largest youth population compared with the EU (Eurostat)
Half the population under the age of 30.7 (2014, TurkStat)
Over 29.2 million young, well-educated and motivated professionals (2014, TurkStat)
Increasing labor productivity
Approximately 610,000 students graduate annually from over 183 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, TurkStat)
Corporate Income Tax reduced from 33 percent to 20 percent
Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones, including total or partial exemption from Corporate Income Tax, a grant on employer’s social security share, as well as land allocation
R&D and Innovation Support Law
Incentives for strategic investments, large-scale investments and regional investments
Customs Union with the EU since 1996 and Free Trade Agreements (FTA) with 20 countries (Ministry of Economy)
More FTAs underway
Accession negotiations with the EU
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
The second biggest reformer among OECD countries in terms of its restrictions on FDI since 1997 (OECD FDI Regulatory Restrictiveness Index 1997-2012)
Business-friendly environment with average of 6 days to set up a company, while the average in OECD members is more than 11 days (World Bank Doing Business Report 2014)
Highly competitive investment conditions
Strong industrial and service culture
Equal treatment for all investors
Around 41,397 companies with international capital in 2014 (Ministry of Economy)
International arbitration
Guarantee of transfers