16 March 2024
Istanbul surpasses Paris and London as top tourist destination From humble beginnings to a cosmopolitan metropolis, Istanbul's journey as a tourist destination has been nothing short of remarkable. In 1990, the city welcomed 1.98 million tourists, a number that surged to 2.69 million by 2002. However, it was in 2019 that Istanbul shattered records by attracting 14.9 million visitors, a feat that continued to soar as it hosted over 20 million tourists in 2023.16 March 2024
Fitch upgrades Turkey’s rating to B+ Fitch, the Rating Agency has upgraded Turkey’s rating from “B” to “B+” – citing tighter approaches to its monetary policy that have helped reduce macroeconomic issues within the country. Following the Rating upgrade, Fitch also revised Turkey’s outlook from stable to positive after Turkey’s Central Bank left its key interest rate steady in February.16 March 2024
A rising star in 2024: Istanbul Airport In 2022, one airport stood out as a bustling hub of international travel: Istanbul Airport. With a staggering 64 million passengers passing through its terminals, it claimed the title of the busiest airport in Europe for the year. Spanning connections across an impressive 114 countries, Istanbul Airport serves as a pivotal junction linking travellers from various corners of the globe.16 March 2024
Turkey's Energy Profile and Investment Potential Turkey, ranking as the fifth largest electricity consumer in Europe, has historically relied heavily on foreign energy sources. However, significant strides have been made with a staggering $70 billion invested in renewable energy between 2002 and 2023, resulting in 80 percent of electricity production being sourced domestically.15 March 2024
WHO: Life expectancy extended in Türkiye to 78.6 years The World Health Organization (WHO) has released a report stating that the average life expectancy in Turkey has risen to 78.6 years. This marks a significant increase from previous years. The report revealed that women in Turkey have a life expectancy of 81.3 years, while men have a life expectancy of 75.9 years.15 March 2024
Saudi Arabia eases visa process for Turkish Citizens In a statement released on Tuesday, the Saudi Tourism Ministry revealed that it has extended its e-visa program to six additional countries, allowing nationals from those nations to apply for visas online before travelling. The move is part of a broader effort to encourage tourism in Saudi Arabia and make it easier for nationals from selected countries to enter.08 February 2024
Investment opportunities in Turkey: New Technologies and R&D Positioned as a dynamic and progressive nation, Turkey has continually directed substantial investments towards its burgeoning technology sector over the years. From an initial industrial export value of $20 billion in the early 2000s, Turkey has remarkably surged, expanding its industrial exports exponentially to a formidable $200 billion.02 February 2024
The Norwegian Wealth Fund’s investment in Turkey Throughout the 2000s, the commercial relationship between Turkey and Norway has experienced a significant upswing, marked by a robust expansion in mutual foreign trade. This upward trajectory reached a noteworthy milestone in 2008 when the bilateral trade volume surpassed the 1 billion-dollar mark for the first time.30 January 2024
1,000 Swiss-backed companies now operating in Turkey In the dynamic landscape of global economic collaborations, the bilateral relationship between Switzerland and Turkey has witnessed significant growth over the years. As of the latest data provided by the Central Bank, approximately 1,000 companies backed by Swiss capital are actively contributing to Turkey's economic landscape.22 January 2024
SunExpress added more than 2,000 flights due to demand SunExpress increased capacity and added over 2,000 flights to Turkey to meet strong demand during the longer 2023 tourism season. This helped the carrier exceed its passenger target for total numbers in 2023. CEO, Max Kownatzki, told reporters that SunExpress flew almost 10 million passengers from January to September, an all-time high.22 January 2024
Turkey to develop school-based performance evaluation system Turkey recently announced the "12th Development Plan" – which will be a school performance evaluation process. The main aim is to assess where there could be limited progress being made by pupils in schools that have displayed diminished levels in terms of development, so that suitable action can be taken.17 January 2024
Record income as number of foreign visitors soar According to official figures recently released, Turkey's tourist industry generated an all-time high revenue in the third quarter of 2023 thanks to a spike in international arrivals. This indicates that the country is almost certain to surpass its record year-end targets.