Turkey

A Flourishing Economy: Turkey's Alluring Prospect for UK Businesses

In the heart of the Eurasian crossroads, Turkey emerges as a thriving economic powerhouse and a promising arena for UK enterprises. Ranking as the world's 19th largest economy, Turkey flaunts a robust domestic market, home to over 82 million inhabitants.

With half of its populace under the age of 31, the country is teeming with a youthful, tech-savvy consumer base, exhibiting an escalating demand for superior quality products and services.

Why Turkey is an Attractive Destination for UK Businesses

With its vigorous economic growth and state-of-the-art infrastructure, Turkey is a magnet for UK businesses. A well-established transport and logistics sector, backed by substantial government investment, renders the country as an optimal gateway for firms aiming to penetrate markets in the Middle East, Central Asia, and Africa.

UK's Strong Presence in Turkey

Over 2,500 UK businesses have already established their footprint in Turkey, spanning a diverse array of sectors such as energy, retail, healthcare, and financial services. The flourishing bilateral trade relationship between the UK and Turkey, which stood at £15.2 billion in 2019, is a testament to the immense potential for UK businesses to prosper in this market.

Challenges and Support for UK Businesses

Despite the promising prospects, doing business in Turkey is not devoid of hurdles. UK firms must adeptly navigate the intricate regulatory landscape and grasp the nuances of the local business culture. To aid in this endeavour, the UK Department for International Trade (DIT) extends its support to UK businesses seeking to penetrate or expand in the Turkish market. The DIT offers insightful market advice, potential contacts, and assistance in surmounting trade barriers, thus enabling UK businesses to capitalise on the opportunities that Turkey presents.