In the year 2021, the United Kingdom invested a substantial £8.9 billion in Turkey, marking a noteworthy increase of £1.8 billion compared to the previous year, 2020. This surge reflects a 25.6% growth in the UK's Foreign Direct Investment (FDI) stock in Turkey.
UK investments in Turkey
For the UK, Turkey constituted 0.5% of its total outward FDI stock in 2021. This means that, out of all the investments made by the UK abroad, half a percent was directed towards Turkey. This data emphasises the importance of the UK-Turkey economic relationship, showcasing a positive trend in investment flows between the two nations. The increase in FDI demonstrates a growing confidence in Turkey as an attractive destination for British investors.
Significant nations outside the EU
Post-Brexit, both Turkey and the United Kingdom find themselves as two significant European nations outside the European Union. Despite cherishing their connections with European institutions like the EU and the Council of Europe, both countries are actively involved in extensive endeavours across the globe.
Situated at the crossroads of Europe and Asia, Turkey, officially known as Türkiye, holds a strategic position with the Arabian Peninsula to the southeast and a direct land route to Africa. This unique geographical location has positioned Turkey as a crucial player in global trade, particularly with the United Kingdom.
Trade between the UK and Turkey
According to official government data, trade between the UK and Turkey reached an impressive £23.8 billion by the end of Q1 2023. This marks a significant 22.1% increase, equivalent to £4.3 billion, from the preceding four quarters ending in Q1 2022. The burgeoning economic ties highlight Turkey's growing importance as a trading partner for the UK, now holding the 18th position among the UK's global trade allies.
As UK businesses increasingly focus on enhancing international trade relationships, the potential for business expansion in Turkey appears boundless. The substantial growth in trade figures underscores the attractiveness of the Turkish market for UK enterprises seeking new opportunities and markets.
With its strategic location and expanding economy, Turkey emerges as a promising destination for businesses aiming to diversify and strengthen their global footprint. As both nations continue to foster diplomatic and economic relations, the evolving trade landscape between the UK and Turkey presents a wealth of possibilities for mutually beneficial collaboration and growth.
Brits living in Turkey
With a thriving community of 34,000 British nationals, Turkey has become a favoured destination, particularly along its picturesque Aegean and Mediterranean coastlines. For those considering a move, selecting the right city or town based on lifestyle preferences is key.
Turkey boasts a wealth of top-notch real estate options that cater to various tastes and budgets. British expatriates, in particular, find themselves in an advantageous position, able to easily acquire modern properties that come equipped with high-quality facilities. These residences offer the perfect setting for individuals to embrace the lifestyle of their dreams in this culturally rich and diverse country.
Whether you seek a vibrant urban atmosphere or the tranquillity of coastal living, Turkey's real estate market is sure to have the perfect home for a British citizen.
Our unique U shaped houses for sale in Gumusluk are designed from top to bottom with luxury living in mind, featuring an authentic fusion of architecture to create some of the most stunning properties in the Bodrum peninsula.
Strategically located in the central area of Bomonti in Sisli, these Sense Sisli properties form part of a low-rise project with social facilities within and are surrounded by amenities, transport, and things to do.
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This beautiful stone house is for sale within the famous Kayakoy area of Fethiye and has its own private swimming pool and landscaped garden – just a few minutes away from a range of amenities and landmarks.