During a presentation in Austria the President of the Investment Office, Arda Ermut confirmed that from the period of 2003 – 2018 companies with European capital invested almost 210 billion USD in the Turkish economy.
Turkish property & economy news
It's a situation we haven't seen in decades in Turkey: the long-ruling AK Party, led by President Erdogan, was dealt a blow in March's local body elections when oppositional mayors were elected in the country's big cities. Erdogan has demanded a recount. And the public's wondering, what's next?
From June 2 this summer, people will be able to use the new ferryboat scheduled to run from the district of Cesme in the western province of Turkey’s Izmir and the Greek town of Lavrion on the coast near Athens. The aim for the new ferry service is to reduce the dense traffic that builds up along the border gates whilst also helping to develop the relations.
The Hotel Association of Turkey (TUROB) have released a new report based upon the Investment Incentive Certificates, confirming that due to the rise in the tourism sector last year following two years of uncertainty, there have been new 167 hotel in Turkey project applications made in 2018, which will provide an increase of 28,661 bed capacity across the country.
Losing elections isn't something Turkish President Recep Tayyip Erdogan is used to. But in last weekend's local elections, that's exactly what happened. The municipal elections were seen as a test of Erdogan's popularity, and now the president is claiming irregularities in the voting system.
Turkish Airlines (THY) are set to increase the number of direct flights from the top holiday resort Antalya to 41, also planning for these flights to operate during the winter season. The Governor of Antalya, Munir Karaloglu made the announcement at an AKTOB, (Mediterranean Touristic Operators Association) meeting that was held in February.
Foreign direct investment overseas by Turkish residents saw an enormous growth last year. In 2018, investment reached 4 billion USD, which is an increase of 26% when compared to the same period in 2017. These figures were documented in data issued by the CBRT (Central Bank of the Republic of Turkey).
According to a report published in 2018 by the European Travel Commission (ETC) visitors to Turkey hit a new record and are currently increasing by approximately 22% year on year, with visitor numbers rising above 40 million, the total for 2018 set an all-time high of 47 million tourists to Turkey.
It's like something out of a film: a mystery man is handing out cash donations to the families who most need them. In Haskoy, on Istanbul's Golden Horn, a group of people are handing out envelopes to families in need of help. The man's identity remains a secret, but locals are calling him a "godsend".
In its position between Asia and Europe, it's no surprise Turkey has become home to people from all over the world. The shifting and dynamic population of Turkey has created a "mosaic" country with distinct languages, cultures and traditions in just about every corner, making a fascinating destination for visitors.
The Turkish economic administration aims to challenge unemployment rates in the country by launching a new employment mobilisation program. This continued into 2019 after first being launched in February 2017 with a target of creating 2.5 million new jobs by the end of 2019.
Scrapping military clearance is one of the final bureaucratic hurdles to property ownership in Turkey. One by one, the Turkish government has lifted restrictions, making it easier than ever for foreigners looking to invest in Turkey or buy a lifestyle or retirement home there. Now, buyers can purchase property in days, rather than weeks.