The Turkish economic took the ideal shape in the eyes of professionals and experts among economists,
as its growth in the first quarter of 2022
reached about 7.3%, mainly due to foreign
investments that noticed the fertility of the
Turkish market and the attractive environment
for investments in light of the tax and legal
facilities that the Turkish government worked
to secure, especially in The field of real estate
investment, which witnessed great prosperity,
especially in Istanbul, Ankara, Bursa and other cities.
Turkish economic growth statistics
The beginnings of this prosperity were in
2018, when the Turkish economic ranked 13th
in the world, and the gross domestic product
reached $784 billion, then in 2021 it rose to
11th place. In the Corona pandemic alone,
Turkey was able to turn the table in its favor,
unlike most countries, as its economy grew by 11.4%.
According to members of the Organization for
Economic Co-operation and Development
(OECD), they predicted in advance that the
Turkish economy will have a brilliant future, as
it will be one of the fastest growing
economies. This prediction came after the
average annual growth of real GDP to 5.4% between 2017-2020.
The Turkish economic grew by more than 11%
in the third quarter of 2017 on an annual
basis, and this is the fastest pace of growth
achieved by the Turkish economic in 6 years.
The Turkish government expected that the
economic growth for the same year would be only 7.4%.
And according to the data of the Turkish
Statistical Institute, the gross domestic
product in the third quarter grew by 1.2%
compared to the previous quarter. and the
Anadolu Agency stated at the time. that “the
growth of the Turkish economic exceeded the
growth rate in the European Union. the Group
of Twenty, and members of the Organization
for Economic Cooperation and Development.”
and that it achieved growth during The third
quarter increased by more than four times the
average European growth of 2.5%, and
indicated. that the domestic economy grew
by more than twice the rate of the second
quarter of the year. which amounted to 5.2%.
In 2021, the economy grew by 21.7% in the
second quarter of the year.
Turkish economic growth forecasts for 2023 – 2024
Monetary inflation is expected to slow to 8%
in 2023. Gross domestic product grew by 9%
in the first year and 5% in the second year.
The budget gap to the GDP ratio is 3.2% in
2023. It is expected that the volume of
exports will reach 242 billion US dollars in
2023 and 255 dollars at the end of 2024.
Investing in Turkey is the best choice for businessmen
Among the advantages of investing in Turkey,
which we mentioned in a previous article. is
that it enjoys a great strategic location, as it is
located between Europe and Asia. and this is
what makes it ideal for prompting you to start
investing in the real estate market.
It can be said, of course, that the main
reasons for the arrival of the Turkish economic
in 2023 to this extent of prosperity is its keen
interest in the field of energy. tourism and
travel, and I advise you to get acquainted with
the most important tourist cities in Turkey to
see the places that you must visit. especially
in Istanbul, as living is low in Turkish cities
compared to European countries make it an
ideal destination for tourism. as it did not
reach the sixth rank in the world for nothing
