Demand for Antalya property rockets
Investors are eyeing Antalya as a hotspot as the city becomes ever more important for real estate investors the world over. Enjoying a surge of popularity over the last 10 years, Antalya saw more than 12 million tourists visit the city during the last year, making the destination one of the most popular in Europe today.
Istanbul fast becoming Europe’s most popular city
Istanbul is fast becoming one of the biggest cities in the world for tourism as a recent report has shown that the city is expecting more than 10 million tourists to visit during this year. Up to 10.4 million tourists are set to move the city into sixth place in the world for top tourism destinations. This will net the city over 9 billion dollars in total revenue according to a Mastercard report.
Turkey and UN launch Istanbul hub to offer support to neighbouring countries
Istanbul is now second only to New York in diplomacy, says the Turkish foreign minister at the opening of the new Istanbul Regional Hub. Turkey, together with the United Nations, has launched the Istanbul Hub to offer assistance and support to nations in Europe and the Commonwealth of International States. With 260 diplomatic centres and its pivotal location at the gateway between the Middle East and Europe, Turkey is well placed to offer support to its neighbours near and far.
Turkish film Winter Sleep picks up top prize at Cannes
Acclaimed Turkish film Winter Sleep is the toast of the nation after scooping the prestigious Palme d’Or award at this year’s Cannes Festival, impressing both critics and judges with its Chekovian tones and breathtaking acting. The movie, coming in at just over three hours, takes into consideration and explores themes of isolation and breakdown - not an easy watch by no means, critics expressed how much they loved the direction and performances by Haluk Bilginer, Melisa Sozen and Demet Akbag. Director, Nuri Bilge Ceylan thanked festival-goers and organisers and dedicated his award to the young people of Turkey who have lost their lives during the last year.
Medical tourism provides a facelift to Turkey’s economy
Tourists are quickly discovering there’s more than beaches and ruins in Turkey, now the world’s six biggest health tourism destination. One out of every 200 visitors to Turkey now visits the country for a surgical procedure ranging from plastic surgery to oncological treatments. With top facilities and highly trained medical professionals available at a fraction of the price of many Western countries, it’s hardly surprising that Turkey is gaining a reputation as an attractive health destination, and investors are rushing to capitalise on the fast-growing industry.
No sign of a property bubble in Turkey encourages investors
Turkey’s economy is in a health place. Property prices are stable and growing steadily, alleviating fears of a property bubble. Rental prices increased significantly in the first half of 2014, good news for buy-to-let investors. The construction industry is growing, and the country is attracting investment from Middle Eastern countries as well as enjoying tourist growth.
Fitch proclaims Turkey’s investment climate stable
International credit ratings agency Fitch has awarded Turkey a BBB rating with a stable outlook. This is no surprise to Turkish government officials, whose reaction has been along the lines of “just you wait”. And indeed, the potential for future investment looks bright. With a youthful, educated population, healthy GDP growth, excellent infrastructure and its location as a linchpin between continents, Turkey’s economy is currently extremely favourable for investment.
New report shows GCC tourists to Turkey rise by 38%
The statistics are in, tourists to Turkey from GCC nations has impressed more than ever in 2014 with numbers reaching an impressive 211,000 in total, a rise of almost 40% over the year before. With so many new visitors looking to Turkey for summer vacations and winter holidays, we look at how this rise in numbers from GCC visitors has impacted Turkey over 2014.
Invest in Turkey say Goldman Sachs
Head of Emerging Market Strategy at the American Multinational Investment Banking Goldman Sachs, Caesar Maasry has tipped three countries to be the best emerging markets in 2015 - Turkey, India, and Taiwan. We take a look at what has made Turkey stand out as one of the top markets for 2015, what is it that Maasry and Goldman Sachs are seeing in these countries?
Turks take to the seas as yacht production increases
Turkey’s growing middle class is growing - and in search of new leisure activities. The yachting industry has taken off in a big way, and Turkey is now the world’s third largest producer of yachts after the US and the Netherlands. In Antalya, where yachts are built in the Free Zone, demand is outstripping supply. While most yachts sold are in the 15-22 metre category, there is also a demand by the wealthiest Turks for super and mega yachts.
Kanal Istanbul plans come to light
Initial plans for Istanbul's biggest ever construction project have been released, allowing a glimpse into what the extraordinary Kanal Istanbul might look like upon its completion in 2023. The project will not only involve the construction of a new canal that will free up shipping space, but it will also provide a home for 500,000 residents and become an important hub. An emphasis on natural surroundings mean that the local flora and fauna will be preserved, and plenty of green spaces will allow for residents to enjoy the natural surroundings.