What’s next for Turkey’s newest president?
Recep Tayyip Erdogan has officially been unveiled as the new President of Turkey following a political campaign and a victory represented by a 52% majority vote in the first ever Turkish direct presidential election. After a successful career as Turkey's longest ruling Prime Minister, all eyes will be on Erdogan to see what is in store for Turkey with this new shift of balance. The former PM has successfully overseen a large amount of the continued growth of the economy and other matters in the last ten years, is Turkey set for a sustained period of growth? Is this a good move for the nation? We take a look at what might be in store over the next few years.
New tourist visa changes by Turkey
As of April 10, 2014 all passengers travelling to Turkey will need to have obtained the new electronic e-visa before entering Turkey as the nation moves ahead with plans to make it easier to fly or travel. At a cost of only £10.00 and saving time on waiting in long queues upon arrival, travelling to Turkey has never been easier for tourists looking to enjoy summer holidays at some of Europe's most loved beaches and coastal regions. Make sure you are well aware of how to apply and obtain the e-visa before embarking on your holiday to Turkey this year because failure to do so will more than likely result in refusal to board the airplane. All info you need is within including tips on how to avoid bogus websites or unncessary tourist agency fees.
Recep Tayyip Erdogan to become Turkish President?
With Recep Tayyip Erdogan looking to increase powers of the Turkish President from a ceremonial role to a role whereby the president could exercise executive powers, speculation is growing that in the upcoming elections we could see a swap of positions between Prime Minister Erdogan and current President and AK Party founding member Abdullah Gul. What would be the implications of this? And how exactly could Erdogan go about implementing these transformation of powers? We take a look at the Presidential role of Turkey and what it means today, and what it could mean in the future.
Protests fail to deter tourists
With the recent protests in Istanbul seemingly deterring people from travelling to Turkey, this article shows that actually, the tourism industry in Turkey has continued to fledge and prove a hot destination for millions of tourists who are planning summer holidays along Turkey's Mediterranean coast line with an increase of over 14% on the same period during last year.
Arab influx bolsters Turkish housing boom
Last year, Arab buyers of property in Turkey snapped up 2,700 properties in the first ten months of the whole year - out of the 21,700 total purchased by foreign buyers, including those from previous top countries including Germany, the United Kingdom, Russia and the Netherlands. Following the reciprocity law removal in 2012, Arab buyers have been flocking to Turkey under the new conditions, and this year is no different, with revenue from property sales in Turkey expected to increase further again with analysts predicting $5 billion in sales for the year ahead.
Turkish Lira rallies into second quarter 2014
We predicted on 28 January 2014 when we said "invest now for maximum discounts and take advantage of falling Turkish Lira before it reverses again before the end of April 2014". We were spot on. Since the local elections of 30 March, Turkish Lira started rallying up against hard currencies just as we thought it would. Your window of opportunity to secure maximum discounts due to low Turkish currency is disappearing day by day as the Lira moves to reverse its losses and as Turkish government announces new positive economic indicators
Turkey votes for prosperity at local elections
Turkish Prime Minister Erdogan's AKP manages to win a clear victory at local elections held on 30 March 2014 in what is seen as a major support for his popularity and governing party. According to many commentators, Turkey voted for continued prosperity and development. They voted for economic growth, improved health service and infrastructure enhancements, which AKP has been very successful in delivering since coming to power in 2002. Despite severe allegations by the opposition of misconduct by AKP officials (none proved) leading up to elections, it appears that Turks were not deterred from voting for their best economic interests.
Once Ottoman Crimea Haemorrhoid of Russia
The once Ottoman ruled Crimea has been the focus point of international news for some time recently due to the increasing tensions between Ukraine and Russia over the region. The region is strategically important to both nations for oil pipelines and port access to the Black Sea for distribution of oil and gas, Crimea is seemingly at a breaking point with over 50% of current residents being Russian, 24% being Ukrainian, and over 10% having Turkish roots - we take a look at why is Crimea such an important region for all countries involved? And what is the likely outcome of the current tension between the nations?
Julianne Moore set to be the face of Turkey
Oscar nominated actress Julianne Moore is set to become the new face of Turkey by starring in a series of new films shot later this year to promote Turkish tourism overseas worldwide and beyond. The multi-award winning actress will work alongside acclaimed documentary photographers such as the famous Steve McCurry to bring out the best of Turkey and show exactly why Turkey is currently ranked as the 4th best destination for tourism in Europe and 6th in the entire world by the World Tourist Barometer - those who have previously been to Turkey will know more than most what makes this nation such a difficult one to resist.
Turkish Central Bank raises interest rates to 12%
With growing pressure from investors to intervene in the fall of Turkish Lira, Erdem Basci of Central Bank of Turkey raised overnight lending rates to 12% from 7.5% in an emergency meeting held on 28 January 2014. The size of the hike came as a shock to most analysts, who expected a rise but not to this magnitude. On the other hand, CBRT's decision to oppose Prime Minister Erdogan's suggestion not to increase interest rates was perceived as bold and positive indicating monetary policy independence. Erdem Basci wowed to rescue Turkish Lira and ensure that inflationary pressures are kept under control. Immediately after the announcement Turkish Lira recorded a sharp rise against USD on 29 January.
Foreign buyers to get title to property in ONE day
Revised foreign nationals military clearance process will reduce the time overseas property buyers register title deed (TAPU) in Turkey to just ONE day. This means easier mortgages, access to better bargains and auction deals, as well as a safer and more transparent real estate purchase process. This will open up opportunities for foreign nationals to participate in bank repossessions, property auctions and distressed sales. Real estate investments from overseas expected to increase by up to 30% in the forthcoming 18 months.
Gate to Hell found in Pamukkale Turkey
If you thought that Turkey was all sun, sand, sea, and beaches - think again. After spending a day lounging by some of the prettiest beaches in Europe, why not take a trip to the recently discovered Gate to Hell? A recently discovered site at the ancient home of Phrygian of Hierapolis, near Pamukkale in Turkey, has recently been confirmed to have been home to Pluto's Gate - the entrance into the underworld. Have a read to discover the fascinating history and story behind the Gate to Hell. Would you care to buy your Turkish house near the Gate to Hell?