The international standing of Turkey's contracting and technical consultancy sector stands as a testament to the strength of its companies. Fuelled by a combination of well-trained human capital, robust technical know-how, technological adaptation, extensive business experience, and disciplined operations, Turkey has become a formidable force in the global market.
This ascent is further facilitated by the nation's strategic geographical location, political and cultural proximity to neighbouring countries, and the effective coordination between public institutions and the private sector.
The growth of Turkish overseas contracting
Since its foray into international markets in 1972, the Turkish overseas contracting and technical consultancy sector has experienced remarkable growth, solidifying its well-deserved reputation in the nearby geographical regions. However, it wasn't until 2003 that the sector witnessed a significant surge in its business volume. As of October 2023, the sector has successfully executed 11,878 projects, totalling an impressive value of $487.5 billion, across 135 countries.
Beyond its construction-centric contributions, the Turkish overseas contracting and technical consultancy sector plays a pivotal role in generating substantial income sources for the country's balance of payments. This impact extends beyond construction, encompassing logistics, workers' remittances, and goods export items. The sector's influence reaches far and wide, contributing to the expansion of various sub-sectors abroad, from logistics to exports.
Commitment to excellence on the global stage
Not merely a contributor to economic growth, the foreign contracting and technical consultancy sector emerges as a locomotive sector within the Turkish economy, fostering sustainable development. Currently standing as the most mature, competitive, and comprehensive segment of Turkey's service exports, it exemplifies the nation's commitment to excellence on the global stage.
As Turkey's international contracting sector continues to demonstrate resilience, adaptability, and a commitment to excellence, the global community can anticipate further contributions to the nation's economic prowess and the sector's continued leadership in the international arena.
Projects in 135 countries by the end of 2023
In a remarkable showcase of strength and resilience, Turkey's foreign contracting sector concluded the year 2022 with an impressive total project value of $17.8 billion. Undoubtedly, Turkish contractors are making their mark globally, undertaking projects in 135 countries by the end of 2023. The ambitious goal is to extend their reach to every corner of the world, leaving no country untouched by Turkish expertise and craftsmanship.
Regionally, the Commonwealth of Independent States (CIS) continues to dominate, securing the top spot with a substantial 37.6 percent share of project sizes in 2022. The European Region has doubled its share, claiming second place with 24.5 percent, while the Middle East follows closely in third with an 18.5 percent share. Notably, Turkish contractors have made significant strides in the Sub-Saharan Africa region, solidifying their presence with a commendable 12.7 percent share.
Examining the top 10 countries, Russia maintains its leading position. Despite facing challenges, particularly due to geopolitical events, Russian projects still accounted for a noteworthy $2 billion in 2022. This represents a significant adjustment from the previous record-breaking year, where projects amounted to around $11 billion.
Turkey's foreign contracting sector's impressive performance in 2022 underscores its ability to adapt and thrive in diverse global environments. As Turkish contractors continue to expand their footprint, the world can expect to witness their unwavering commitment to excellence and innovation in the years to come.
With panoramic views heading out across the sea and natural surroundings of Koyunbaba, these stone-built villas are found in Gumusluk area of Bodrum and are just a few minutes away from daily amenities.
With outstanding views of the sea and daily sunsets, these beautiful villas are for sale within the sought after area of Yalikavak in Bodrum Peninsula and are complete with their own private gardens and pools.
Situated within a secure compound, these luxury-built villas are nestled within a private area of Dosemealti in Antalya and have fantastic nature views from their own private gardens with spacious swimming pools outside.
These Pendik apartments have tremendous views heading out towards the Marmara Sea on one side and Aydos Forest on the other side – suitable for buyers looking to live in a peaceful area of Istanbul at an affordable price.