Young, Educated and Skilled Population
Turkey is the largest educated youth population in Europe with half of its population below the age of 30. UN projects that the population will continue to grow by 33% in the next 30 years for which major investments in infrastructure and energy sector are underway and geared to accommodate.
With its young, educated and skilled human capital, Turkey is projected to keep abreast of developed countries and become the 14th biggest economy by 2030 and the 9th biggest economy by 2050 according to Goldman Sachs.
Foreign Direct Investment
A crucial and distinguishing characteristic of Turkish economy is the large and steadily rising share of investments, propelled both by the public and private sectors as a result of sustainable demand, affordable and readily available financing options and a supportive and effective regulatory infrastructure. Turkey continues to pique the interest and appetite of foreign direct investments which amounted around USD 151 billion in the last decade.
It has been predicted that in 2023, every city in Turkey will have at least one shopping mall and Istanbul will become a shopping and entertainment destination for neighbouring countries. With a further 670,000 sq. m of new shopping centre space currently under construction, Turkey presents huge potential for international retailers looking for markets with high growth rates.
Home to numerous civilizations throughout its more than eight thousand years of history, Istanbul is the only city located on two continents: Asia and Europe.
Its cultural heritage, young and educated population and its upper-middle and high-income household make Istanbul an unmatched retail market.
Istanbul gathers people from different cultures and backgrounds, making it a modern metropolitan city.
Istanbul has a population of up to 14 million people and ranks among the first seven cities worth visiting in the world.
A growing and young population with westernized tastes in fashion lead to strong retail sales growth for local and international retailers, including apparel.
Istanbul is also home to The Grand Bazaar, the oldest and largest shopping area in the world, with over 4,000 stores some dating back to the fifteen century.