Turkey

In: Business and Management

Submitted By reznil
Words 525
Pages 3
Turkish Economy and Business 1. Turkey has been one of the fastest growing economies in the last 10 years. What have been the main drivers of this rapid growth? a. Fast recession recovery: The painful experience of 2000-01 meltdown that lead to an increase in public debt from38% to 74% of Turkey’s national income, made Turkey better prepared to handle the next crisis. b. Attractive foreign direct investment destination, which grew 20 times from 1990s c. Young and vibrant demographics: Current population of 72 mil with an average age of 29 that makes the young entrepreneurs amongst industrious people d. Europe’s 6th and the world 16th largest economy. e. Strong financial sector and one of the biggest exporter of construction material(cement), car, textile, and agri-business f. Soring share of export to middle east g. Relatively low labor costs compared to higher costs European labor market h. Recent advancement in medium to high-tech sectors i. Recent betterment of the neighboring markets: Russia, Iran, other Middle east countries j. GDP growth rate at 6% between 2002-08 k. Inflation of 9% from 75% a year in 1990s. l. Utilizing its Special geographic location to be the energy corridor amongst Europe ,Middle east & North Africa m. Attempt to normalize relations with all neighboring countries including Armenia. n. Keen and long-term interest in becoming an EU member

2. Which sectors have been the hottest ones? o. Financial Sector p. Textile q. Jewelry r. Automotive s. Agribusiness t. Construction u. Airline v. Mid to high-technology

3. What is the role of the new entrepreneurial class emerging from Anatolia (Until the 90s, Turkish economy was dominated by large conglomerates in Istanbul)?…...

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