Turkish property & economy news
29 March 2020
Turkey's economy to be one of the least hit by the pandemic Like most other countries, Turkey is battling the covid-19 pandemic that has swept around the world. However, top banking officials believe the country will be cushioned from the worst of the economic impacts that are expected to send the world into a recession. Turkey is introducing strict measures for its populace to control the spread of the virus.23 March 2020
Bilateral Trade between Turkey and USA to increase Recep Tayyip Erdogan, the President of Turkey confirmed that he and American President Donald Trump have agreed to keep their disputes to one side and forge ahead with their trade target of 100 billion USD between Turkey and the USA.22 March 2020
Each night at 9pm, Istanbul residents send up a cheer for frontline healthcare workers In a show of nightly solidarity, people in Istanbul cheer and bang pots and pans each evening to show their appreciation for health workers. The Turkish government, like most around the world, has rolled out stricter measures to curb the spread of coronavirus, including closing public places and shutting down flights.16 March 2020
COVID-19 and Turkish property: what investors should know The Coronavirus pandemic is upending economies and the tourism industry. But when it comes to property in Turkey, Cameron Deggin follows a maxim. "When there's blood on the streets: buy property." For overseas investors confined to internet shopping, there are ways and means to get your hand on a bargain, Deggin explains.12 March 2020
Tourist numbers in Turkey up by 16% In January, foreign visitors choosing to visit Turkey increased on a yearly basis by 16.1% with hotel occupancy rates increasing by 6.4% to reach 61.9% when compared to January 2019. Ministry data confirms that in January 2020, Turkey recorded their highest number of foreign visitors ever for January at approximately 1.8 million people.11 March 2020
Russian visitors to use Rubles in Turkey Munir Karaloglu, the governor of the southern city of Antalya in Turkey has confirmed recently that talks are ongoing between the capital city of Ankara and the capital city of Moscow to allow Russian tourists to use their own Rubles currency when visiting Turkey for vacations.11 March 2020
Record numbers using Turkish Railways Turkey’s transport minister confirmed that 2019 saw record increases in passenger and freight transportation on Turkey’s rail network. Cahit Turhan said that the huge success of the railway network is due to the investments that have been made to this mode of transport since 1950. Last year 8.3 million passengers travelled via high speed trains which equated to a 2% increase year on year.07 March 2020
Turkey grants citizenship to 5,000 foreign investors Following on from legislative amendments first put into place two years ago regarding Turkish Citizenship by Investment, new data released shows that there have been over 5,000 successful foreign investors who have been granted citizenship.07 March 2020
Turkish Airlines to increase flights to Mexico Due to increasing demand from Latin American tourists, particularly those from Mexico, Turkish Airlines has made the decision to increase flights to these areas of the world. Additional flights were announced from Istanbul to two cities in Mexico as of August last year.07 March 2020
Five more EU countries granted Turkish Visa exemption Turkey has recently announced that they intend to provide 90-day visa-free entry to tourists from five more European Union countries. This has come after Turkey removed visa restrictions and costs for citizens from the United Kingdom and other countries from within the European Union as part of an initiative to boost tourism.28 February 2020
Turkey to produce 1 million electric cars by 2030 The Ministry of Turkey’s Energy and Natural Resources has recently announced that it is anticipated by 2030 there will be over one million electric cars using Turkish roads. Fatih Donmez said: “By 2022/2023, we hope to see our own indigenous automobile on the roads.”28 February 2020
Facebook to open a new office in Bursa, Turkey Facebook have recently announced the opening of a new office in the city of Bursa, Turkey. Facebook is also set to open many other offices in various other Turkish cities with the sole aim of helping the younger generation.
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