Turkey

Galata Tower and the street in the Old Town of Istanbul, Turkey
Photo by Boris Stroujko / Shutterstock
Country
Turkey
Europe & Central Asia

Turkey’s economic and social development performance since the early 2000s has been impressive, leading to increased employment and incomes and making Turkey an upper-middle-income country. However, in the past few years, growing economic vulnerabilities and a more challenging external environment have threatened to undermine those achievements. For most of the period since 2000, Turkey has maintained a long-term focus on implementing ambitious reforms in many areas, and government programs have targeted vulnerable groups and disadvantaged regions. Poverty incidence more than halved over 2002–15, and extreme poverty fell even faster. During this time, Turkey rapidly urbanized, maintained strong macroeconomic and fiscal policy frameworks, opened to foreign trade and finance, harmonized many laws and regulations with European Union (EU) standards, and greatly expanded access to public services. It also recovered well from the global financial crisis of 2008/09.

The overall macroeconomic picture is more vulnerable and uncertain, given rising inflation and unemployment, contracting investment, elevated corporate and financial sector vulnerabilities, and patchy implementation of corrective policy actions and reforms. There are also significant external headwinds due to ongoing geopolitical tensions in the subregion.

COVID has deepened gender gaps and increased youth unemployment and the poverty rate. The risk of inequalities has also been increasing. The COVID-19 crisis is expected to have severely negative consequences for Turkey, further weakening economic and social gains.

Source: World Bank, Turkey Country Overview

Investment OpportunitiesDescribes the number of investment opportunities in the country.
27
Most Affected SDGsDescribes the three priority SDGs the investment opportunities address in the country.
Industry, Innovation and Infrastructure (SDG 9) Decent Work and Economic Growth (SDG 8) Responsible Consumption and Production (SDG 12)
Priority Target SectorsDescribes the three priority sectors the investment opportunities address in the country, based on the SASB Sustainable Industry Classification System®️ (SICS®️) classification.
Technology and Communications, Infrastructure, Transportation
Ease of Doing Business ScoreDeveloped by the World Bank, the Ease of Doing Business Score helps assess the absolute level of regulatory performance over time. An economy’s ease of doing business score is reflected on a scale from 0 to 100, where 0 represents the lowest and 100 represents the best performance.
See the World Bank Ease of Doing Business site for more information.
76.8
Human Development IndexDeveloped by the United Nations Development Programme (UNDP), the Human Development Index is a summary measure for assessing a country’s long-term progress in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.
See the UNDP Human Development Index site for more information.
0.820

Opportunity

Opportunities 27 Investment Opportunity Areas

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