Due to a strong performance in the first 3 months of 2021 and a steady growth in it’s economy Fitch has improved Turkey’s forecast from 6.3% in June to 7.9% and as a result has moved their credit rating to BB, with a realistic & stable outlook for the year ahead. BB essentially reflects high inflation, but low external liquidity and weak monetary policy credibility, all of which can be related...
Having had a highly successful June, one of the highest growth rate within the top 25 carriers and now with a 5.7% market share, Turkish Airlines Cargo has moved up three places and is now in the top three air cargo firms internationally. It’s already surpassed some of the biggest brands in America, Europe & the Middle East, and it now flies to over 96 destinations with a fleet of 25 planes. Pushing...
Bodrum is not just highly popular with foreign tourists, but it’s also frequently visited by Hollywood Stars, celebrities and the Rich & Famous, such as British Royals, Tom Hanks & Mark Zuckerberg. Recently, as recent as a few days ago, Bill Gates made an appearance as he dined with six friends in one of Bodrum’s many classy restaurants, apparently spending a whopping $9000 between...
On the 30th August 2021 Turkey will start testing it’s first domestically produced Electric Train, and it’s exciting news for all involved, because if it’s successful not only will they be able to ramp up production across their huge network, but also local manufacturing will cost 20% less than the existing import model. Looking at officially introducing the service onto the network by the beginning...
And the 2021 European Museum of the Year ‘Special Award’ goes to OdunPazari Modern Museum in Eskisehir – congratulations! The museum, located in the heart of the old Ottoman empire, is a masterpiece in both traditional Japanese and Ottoman architecture and attracts visitors from all over the world with offerings from a range of artists right across Turkey, and the wider world. To be considered for...
Foreign visitors have started flocking back to Turkey – now that countries have eased restrictions and lifted flight bans which is a sigh of relief for many of the businesses that rely on International Tourism to survive. Compared with May 2020, when there were just 29,829 visitors to Turkey’s shore, this May there was a huge 936,282 tourists which equates to a percentage increase of just over 3000%,...
If you are a commercial Investor looking to launch a business in Turkey, then it’s probably one of the safest harbours around, due to the country offering a highly qualified workforce, high amounts of support & help and an ‘Investor Friendly’ environment where businesses can quickly accelerate growth and generate healthy profits. These were the words of Fuat Oktay, Turkey’s Vice President who...
Turkeys' top holiday destination Bodrum is set to become home to a brand new sports and entertainment complex. It has been reported that the project is set to be built with the help of Russian tcehnology. The head of the Russian-Turkish Business Council told Anadolu Agency that building on the new project, known as the Bodrum Arena project, will begin in around 5 months time and will be using more...
It’s been tough on everyone over the last 12-15 months with the Covid Pandemic but for some British Expats who chose to stay in Turkey during this period couldn’t have been more happy about doing so. Didim, which is situated in the western province of Aydin, is one of the most popular expat hubs in the whole of Turkey, with around 2500 expats here, from a total population of around 90,000. Talking...
It has been announced that the Turkish Grand Prix will be returning this year and will be held at the Istanbul park in October. The event has been planned to race around the Intercity Istanbul Park after it was announced that the Marina Bay race could not go ahead. It was earlier this year that the Turkish Grand Prix was removed from the calendar due to the travel restrictions, but now with things...