Overview

Leaping ahead: Following years of slow growth, 2012 sees big returns for the sector
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The country’s small insurance and pensions industry has long been valued for its potential to achieve sustained, above-par growth, and more than 20 multinational insurers have collectively spent over $3.5bn in Turkey since 2006 on acquisitions in the sector, in order to make sure that they did not miss out. In 2012 and early 2013, the industry began showing signs of finally delivering on that promise.…

Overview

A home for development: Foreign interest continues to support growth in the market
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The real estate sector has been highly dynamic in recent years, with investor sentiment impacted both positively and negatively by a flurry of regulations, new megaprojects and the quarterly health of the economy. At the same time, the country – especially its largest city – has cemented itself as the darling of investors looking for strong returns without all the risks of a less developed market.…

Overview

Keeping up with demand: The government seeks new sources of energy at home and abroad
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When Trabzonspor, a premier-league football club on Turkey’s Black Sea coast, needed to raise revenue, it did not sign on more corporate sponsorship or look to boost merchandising sales. Instead, it decided to build a hydroelectric plant. The six-time champion in August 2012 won a licence to build a 28-MW power station in the mountains above the city of Trabzon. The plant at Üzüngöl in north-eastern…

Overview

Key targets: The national development strategy has set high GDP and export aims
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Accounting for between a quarter and a third of the country’s entire GDP, Turkey’s industrial sector is a world player in areas as diverse as automotives, ready-to-wear, chemicals and retail. A major source of Europe’s industrial imports – as well as a destination for the continent’s exports – Turkey is also a major industrial trader with the Middle East, Central Asia and beyond. Indeed,…

Overview

Thinking big: Large projects are on the horizon, but consumer confidence has yet to show significant improvement
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The construction sector is riding high on the strength of major infrastructure projects, particularly in road and bridge development, and an ongoing urban regeneration plan that will see one-third of the country’s houses torn down and rebuilt. Although the market is still susceptible to a temporary slowdown in light of the recent global economic crisis, which moderated growth for 2012, long-term…

Overview

Unified vision: Economic growth is spurring needed infrastructure investments
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Efforts to ensure long-term economic growth in the republic will not succeed without substantial investments in transport infrastructure. This is well understood by the government, which nearly doubled public spending on the sector as a percentage of GDP between 2004 (1.06%) and 2010 (1.92%), according to figures from the World Bank. “Turkey’s strong growth performance over the past decade was…

Overview

Shop ‘til you drop: New malls and loyalty to local stores keep spending numbers high
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Amid the growth in incomes and the overall economy, Turkey’s retail sector has acquired modern-scale segmentations with plenty of local and foreign players benefitting from rising consumption. Indeed, the sector has expanded rapidly in recent years, with urban centres like Istanbul seeing an array of new shopping centres constructed. Meanwhile, the traditional corner stores and local discount and…

Overview

The next stage: The bourse turns in a strong performance in 2012 as efforts to broaden and deepen the market continue
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With Turkish equities outperforming all of the major national exchanges and a strong rise in corporate debt issuances, local capital markets enjoyed a banner year in 2012. The strong performance lent support to a government drive to deepen and broaden capital markets while modernising trading systems and better integrating them internationally. Important legal changes are also under way: a new capital…