• “Crossroads of civilizations”; Turkey offers an awe-inspiring legacy of ancient ruins and archaeological sites from 20 civilizations and 10,000 years of history combined with the traditional hospitality of modern Turkish people. Here is where eastern and western cultures meet and harmoniously accommodate many different qualities of both sides. It has a young, well-informed and dynamic population, 28% of which is aged between 0 and 14 and with an average age of 27.

• Its mild climate, accessibility, geographical and natural resources and unspoiled environment have allowed a wide range of tourism activities and have earned this young and newly explored tourist destination a very important place in the global market.
  

• As a result of saturated property markets, high cost of living and ever increasing sea and air pollution in the densely populated western Mediterranean region, there is a fast-growing interest toward the eastern Mediterranean region.

• Turkey is a $361 billion economy in 2005, which ranks it as the 16th largest in the world. Its stable economy, rated as BB-(Stable) by Standard & Poors, has brought exports from less than $1 billion in 1980 to $76.6 billion in 2005 also producing a purchasing power parity of $468 billion and 10,7% as GDP the same year. Turkey’s fast advancing economic progress has led many global companies such as Toyota, Renault, Fiat, Levis, Wrangler, Beko, HSBC…to invest in this country.
  
  
  
  

  RATINGS		RATINGS
  LONG TERM FOREIGN CURRENCY		LONG TERM YTL

  Fitch Ratings:	BB- (Stable) 2007		Fitch Ratings:	BB- (Stable) 2007
  Standard&Poors:	BB-(Stable) 2006		Standard&Poors:	BB (Stable) 2006
  JCR:	BB- (Positive) 2005		JCR:	BB- (Positive) 2005
  Moody's	Ba3 (Stable) 2005		Moody's	Ba3 (Stable) 2005

  
  

• Turkey ranked first in the world with its growth rate of 14.2%. Turkey's sun, sea and historic treasures earned the country the world's fastest growth rate (14.2%) in 2005, beating both China and the United States with a total of $18.2 billion in tourism income, it was revealed in a report by the World Tourism Organization (WT0).
  
  
  
  

  GDP		FDI		CPI
  UNINTERRUPTED GROWTH		$20.1 BILLION		LOWER INFLATION RATE

  The National Accounts, published 02.07.2007, showed that Gross Domestic Product for the first quarter of 2007 has increased to 6.8% in comparison with the same quarter of previous year. WTO states that Turkey is among the most dynamic 20 countries in world trade. Turkey is expected to grow by over 5% a year in the next 5-10 years.		In January - June 2007 Direct Foreign Investment recorded an inflow of $11,807 million ($9,083 million in 2006). Non-residents' real estate purchases in the same period reached $1,511 million and net loans received from foreign parent companies recorded a net disbursement of $219 million.		Based on figures released by Turkish Statistical Institute, in July 2007, the Consumer Price Index posted a monthly drop of 0.73% as a result, the year-on -year inflation rate eased to 6.9%, from 8,6% in June and 9.2% in May, which recorded the lowest inflation reading in the past 37 years.

  
  

• Turkey ranked eight in world with its tourism income of $18.2 billion. Tourism plays a major role in the Turkish economy. In 2005, 20,3 million tourists visited Turkey, leaving $18,2 billion in revenue, making it the 8th in the world by tourism income. World Tourism Organization (WTO) predicts 25 million tourists and $22 billion in revenue by 2010 for Turkey. Its ever-increasing popularity has also brought in many world events such as Formula 1, University Olympics 2005.

• In July 2003, The Turkish Government Offices passed a law allowing foreign nationals to freely purchase property in Turkey. Since then the total number of properties purchased by foreign nationals has dramatically increased by 30%, bringing the total from 37,000 in 2003 to 52,842 in 2005.

• The EU accepted Turkey as a candidate member in 1999 and formal talks for full membership commenced on 3rd October 2005. It is forecast that Turkey will gain full membership by 2010/11.
• Low stamp duty rates 1.5 – 3%
• Young and growing population, 0 –14 age 28% of the population, 27 being the average age.
• Established and perpetuating local market.
• Easily accessible from Ireland , 4 hour flight.
• In 2005, non-resident’s purchase of real estate in Turkey has increased by 36.3%.
• Turkey has achieved a single digit inflation rate since 2004 and a GPI inflation rate of 7.7% was attained in 2005.

Source: http://www.turkisheconomy.org.uk/news.htm

MAP OF TURKEY