Turkish property & economy news
09 February 2022
Internet speeds In Turkey increase by 65% There's nothing worse than slow internet. Which is why the news that Turkey's internet speeds have increased by an impressive 65% over the last year. It's down to a drive by government to increase connectivity and productivity, critical drivers of Turkey's economy.04 February 2022
Tourism numbers double as visitors return to Turkey It's been a hard couple of years for anyone involved in Turkey's tourist industry, with the pandemic putting the brakes on visitors for much of 2020. But positive signs are showing, with 2021 figures revealing that the number of tourists entering the country doubled last year.31 January 2022
Cryptocurrency booming in Turkey In countries where inflation is high, cryptocurrency proliferates. And that's no exception in Turkey, where rising inflation and a weakened lira have sent a growing number of Turks into crypto trades. The Turkish government, keen to see the lira flourish, is pulling levers to curb crypto. But measures haven't put the dampeners on the young investors looking for high returns.26 January 2022
Changes to Turkey's citizenship by investment programme A minor change to Turkey's citizenship by investment programme has been made to bolster the country's currency, but will have little effect on investors. Property Turkey director Cameron Deggin said demand for property has been strong as investors capitalise on Turkey's depressed lira.23 January 2022
Turkish Airlines debuts sustainable aviation fuel flights The national flag carrying airline Turkish Airlines (THY) will switch to new fuel that decreases emissions by 87%, the company’s chairperson Ilker Ayci said on Thursday. THY will be debuting flights using this new sustainable fuel with their new motto “Our route is the future”16 January 2022
Luxury yachts soars as sector tops 1.4bn USD Beloved of billionaires, luxury yachts are a common sight in Turkey's upmarket ports. But it's not just the rich and famous that benefit from these vessels: the luxury yacht sector has bagged more than $1.4bn for the Turkish economy.14 January 2022
Tourism industry in Turkey has great expectations for 2022 The expectation Turkey has put on their tourism sector for this year is very high. It should come to fruition though, as they have already received a huge number of reservations with many coming from the United Kingdom, which is an extremely important market for Turkey and its Mediterranean coast.14 January 2022
Hugo Boss announces 1,000 new jobs in Turkey The German designer clothing house Hugo Boss has made the decision to move their production closer to their European base so that they can reduce how much they rely on Southeast Asia, particularly as there is severe pressure being put on global supply chains. Therefore, they are to expand their current Turkish factory capacity.11 January 2022
Tourist numbers increase for nine consecutive months Official data showed that there was an upward trend for the first nine months of 2021 with foreign holidaymakers reaching 1.8 million for the month of November. The Culture and Tourism Ministry reported that although these figures were up by a huge 111.5% when compared with November 2020, they are still down 19.5% when compared to the pre-pandemic levels.11 January 2022
Cappadocia welcomed record numbers to celebrate New Year The UNESCO world heritage site, Cappadocia, saw foreign and domestic tourists flock to celebrate the New Year amidst the historical, cultural, and natural marvels that the area has to offer. The region put on special celebrations in various ways, with hotels welcoming tourists from all over the world to join in the festivities.29 December 2021
President Erdogan says Turkish Education is amongst the best President Erdogan recently announced that over the past 20 years Turkey have made significant improvements in every area of education, to the point where they are now capable of competing with other nations, in particularly the Organisation for Economic Co-operation and Development (OECD) countries.29 December 2021
Renault opens new subsidiary in Turkey The French car giant Renault recently announced the establishment of RGO (Renault Group Automotive inc.) which is part of a breakthrough strategy that they are deploying in Turkey. The move has been made so that Renault can strengthen both their investments and presence in Turkey.
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