Russian companies emerging as key investors in Turkey

In 2023, Russian companies emerged as the most prolific investors in Turkey, marking a significant milestone in the economic relations between the two nations.

Bilateral trade between Russia and Turkey

With over 2,000 Russian companies venturing into Turkey, bilateral trade volume soared to a substantial $60 billion, propelling growth and strengthening ties. The investments have been notably concentrated in key sectors such as energy, industry, and Turkish real estate, highlighting the strategic alignment of interests between Russia and Turkey.

Particularly in the energy sector, collaborations have been robust, with both countries forging partnerships in nuclear energy projects, aiming to consolidate their efforts in various provinces.

Turkey, on its part, has reciprocated the collaborative spirit by engaging in construction endeavours across Russia. This symbiotic relationship reflects a mutual commitment to fostering economic growth and development on both sides.

Russians investing in Turkish real estate

The real estate sector has emerged as a significant focal point of cooperation, with Russian investors prominently featuring among the top contributors to the Turkish real estate market. Their investments not only contribute to the vibrancy of Turkey's property landscape but also signify a deepening of trust and engagement between the two nations.

The burgeoning economic ties between Russia and Turkey highlights the immense potential for further collaboration and mutually beneficial ventures. As both countries continue to leverage their strengths and resources, the prospects for sustained growth and prosperity in the region are promising.

During the period spanning 2021 to 2023, Russian investors demonstrated a keen interest in the Turkish real estate market, acquiring over 45,000 houses – a testament to the burgeoning economic ties between the two nations.

Depth of cooperation between countries

Russia's cumulative investments in Turkey have surpassed the $10 billion mark, with landmark projects such as the Akkuyu Nuclear Power Plant emblematic of this significant collaboration. Russia's leading position in clean energy investments further highlights the depth of cooperation between the two countries.

Additionally, Russia remains a pivotal contributor to Turkey's tourism sector, with an average annual influx of over 7 million Russian visitors, second only to Germany. This robust tourism exchange generates an estimated $5 billion in annual revenue for Turkey.