The flow of foreign direct investment coming into Turkey has remained strong through the last fifteen years. Weathering political storms and economic upsets, it's grown steadily each year. However, a Turkish investment expert says Turkey can do better, and explains why he thinks Turkey's potential remains barely tapped.
Turkish property & economy news
The US and Turkey have suspended visas for the citizens of each other's countries, following a diplomatic spat in which a US consulate worker was arrested. The countries are NATO allies and major trading partners are waiting to come to an agreement. Erdogan has called the move "upsetting".
A wide-reaching economic plan to transform Turkey's fortunes over the next two years was unveiled last week. Deputy PM Mehmet Simsek announced several targets, including lowering inflation, raising living standards, fostering growth and raising taxes. The measures will have impact on property prices as investors take advantage of favourable growth rates.
Trade has resumed between Russia and Turkey - with the exception of the humble tomato. With the warming of relations between the two countries there is now an ambitious new target: $100bn bilateral trade. In 2015, the volume of trade reached $34bn, and officials believe this number will be surpassed within a few years.
Norwegians are angry about the lack of flights between their country and Turkey - and they're speaking out about it on social media. A campaign under the hashtag £JaJegReiser has gone viral, with many people adding their support for more flights and lower prices to their favourite summer holiday destination.
More than half a million Gulf tourists have visited Turkey's Black Sea region this summer. Attracted by the cooler climes and green valleys of destinations like Trabzon, Gulf tourists are coming in droves - and spending up large, changing the face of the beautiful northern region.
Property sales and tourism have both risen dramatically this year after a less-than-stellar 2016. July saw a 65 percent increase in the number of properties sold to foreign buyers, while tourism across all areas is up, particularly in Antalya, where more visitors have arrived to date than during the entirety of 2016.
Foreign direct investment in Turkey is up significantly, with a 50% increase on 2016. President Erdogan says this is proof that recent political tensions have not affected economic ties between Turkey and the European countries who stand much to gain from investing in Turkey. Turkey's Deputy PM has also announced measures to cut red tape for foreign investors.
Always looking for ways to improve income after two years which saw takings drop considerably, Turkey's hoteliers are asking the government to consider extending the Eid holiday to allow them to take advantage of the revenue that comes from the full occupancy Eid typically brings.
The Germans who once flocked to Antalya’s beaches and streets are disappearing, adding to an overall European decline. But tourist numbers are on the up, as hoteliers promote themselves and their country to new markets in the Middle East and the Balkans.
House sales to foreign buyers soared by 25 percent in June, as post-referendum uncertainty gave way to an increased confidence in Turkish property. Government measures to increase investment and improve economic growth mean buyer confidence is back - particularly in Istanbul.
An agreement between Ankara and Kyiv allowing citizens of each country to visit the other without passports is set to increase the flow of visitors between Turkey and Ukraine. Three quarters of a million Ukrainian tourists are set to visit Antalya alone this year, a rise of around 45 percent on the previous year. In other news, hotel occupancy rates across Turkey are up - although revenues are down.