Turkey continues to prove it is the country to watch for investors as a newly published index by the World Economic Forum showed the country to surpass the world’s leading emerging ‘BRIC’ economies in ‘competitiveness’ rankings.
Turkey catapulted forward by 16 places in this year’s Global Competitiveness Index, securing the 43rd spot out of 144 countries covered by the survey, and outranked, with the exception of China, leading BRIC countries (British, Russia, India and China).
The report attributed the leap to Turkey’s vibrant business sector and the increasing accessibility of its financial sector which have improved its positioning as both a highly competitive and solid economy.
Efficiency gains from its large domestic market (ranked 15th), intense local competition (ranked 16th) and a developed infrastructure (ranked 51st) factored in the country’s upward progress in the Index.
Turkey ranked 59th in the previous report, consisting of 142 countries, and 61st in the 139-country report for 2010-2011.
The findings add to an ongoing number of positive market reports which highlight Turkey as prime for investment; the European Union Institute for Security Studies Global Trends 2030 Report identifying Turkey as among the most influential countries in Europe and with an economy second only to China for growth.
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