The country is the world's 17th largest economy, with a GDP of over $800 billion. Recently, it implemented several reforms to improve its business environment and attract foreign investment. These reforms include simplifying company registration, reducing corporate taxes, and streamlining customs procedures.
In this article, we'll take a closer look at the business opportunities in Turkey and explore what the country has to offer.
1. Manufacturing
Turkey has a strong manufacturing industry, particularly in the textile, automotive, and food sectors. If you want to invest in business opportunities in this sector in Turkey you can count on a skilled workforce, strategic location, and market access to Europe and Asia. These factors make the country ideal for manufacturers looking to expand their operations.
2. Tourism
What about the travel industry? Tourism offers some of the best business opportunities in Turkey since the country attracts over 15,971,000 visitors per year, according to World Bank data from 2020. Turkey is popular with travelers worldwide, offering a rich history, beautiful beaches, and vibrant cities. As a result, there are several opportunities for entrepreneurs looking to invest in the tourism industry, including hotels, resorts, and tour operators. You should consider cities such as Istanbul, Antalya, and Bursa.
3. Agriculture
Turkey has a diverse climate and fertile soil, making it an ideal place for agriculture. That's why the country is one of the world's largest producers of fruits and vegetables, and a leading producer of various crops, including hazelnuts, cherries, and apricots. Turkey also has a growing organic food market, with increasing demand domestically and abroad.
Additionally, the country's strategic location facilitates exports to Europe and Asia. Plant your seed and watch it grow!
4. Information Technology
Technology is another sector with many business opportunities in Turkey. The Information Technology (IT) sector is rapidly growing, driven by the country's young and tech-savvy population. The IT sector includes software development, e-commerce, and digital marketing. Istanbul is the hub of the IT sector, with many startups and established companies operating in the city.
5. Renewable Energy
Turkey has significant potential for renewable energy, particularly solar and wind power. The country's government has introduced several incentives to promote renewable energy investment, including feed-in tariffs, tax exemptions, and a renewable energy support mechanism. In addition, Turkey aims to generate 30% of its energy from renewable sources by 2023, so they need to expand this sector.
Business and leisure: Visa to travel to Turkey
Whether you visit Turkey for business meetings or have a break enjoying a vacation in Cappadocia, you'll need a visa. The good news is that you can apply online for a Turkish Visa.
This electronic visa allows you to travel to the country for business and tourist activities. It only takes a few minutes to submit your visa application. No embassy appointments! You could receive this document via email in as little as 30 minutes. Count on iVisa services, a digital visa agency, to get this eVisa hassle-free and explore the business opportunities in Turkey!
