Turkey: More Tourists, Growing Business Investment


If those looking to invest in a property in Turkey have any doubts as to the growing prosperity and emergence on a world stage of this popular nation then they need only turn to two important pieces of news which were triumphantly unveiled this week by the country’s Ministry of Economy.

Here at Oceanwide Properties Turkey we learned that the number of passengers coming to Turkey by plane had grown by a staggering 24 per cent (year on year) during the first 10 months of this year. Turkish Airlines’ latest figures showed 40.6 million individuals used their services to fly to the country between January and September this year the company announced. That’s an impressive increase and one which surely indicates the popularity of Turkey as not simply a tourist destination, but also an economic and business power.


Turkish Airlines said their passenger occupancy rate increased to 79.6 per cent, which is 1.6 per cent up on the same period year on year. A further breakdown of occupancy rates showed 25.3 per cent for domestic flights and 23.1 per cent on international carriers.

Oceanwide Properties Turkey director Suleyman Akbay said: “It’s clear from the figures released by Turkish Airlines that Turkey is becoming a force to be recommended with, both in terms of tourist and business potential. A 24 per cent rise year on year is a huge increase and as Turkey edges ever closer to EU membership we’d expect those figures to increase even higher.

“As a result, for those considering the Turkey property investment potential I’d suggest it should be a matter of acting now rather than later because the country’s growing popularity is sure to lead to property price increases further down the line. It’s a case of the early bird gets the worm.”

And, as if to further prove Turkey’s growing prosperity, global car manufacturing firm Resnault-Nissan Alliance announced this week that it would be setting up production near Bursa in the country’s main car production area. The company’s Oyak-Renault factory there already operates to full capacity, prompting the company to further invest in the area by starting up another plant.

Renault-Nissan Alliance CEO Carlos Ghosn said they would be starting production at a new plant within the “medium to long term” and added that the Oyak-Renault factory was one of the company’s best factories in terms of production.”

Turkey is already well-known for its emerging and youthful working population, making it an attractive country for foreign investment. Earlier this month the country’s deputy Prime Minister Ali Babacan said the government would create 1.8 million new jobs between 2014 and 2016. In doing so it would reduce the unemployment rate to around 8.9 per cent.

If you would like to more about Turkey’s increasing viability as both a tourist and commercial/business destination then please do contact us here at Oceanwide Properties – at either our London or Turkish office – and we’d be delighted to advise you. We specialise in property in the country’s coastal resorts such as Fethiye and Kalkan but are also familiar with other property markets such as Antalya and Istanbul.


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