|Date:||Thursday, January 12, 2023|
With the exacerbation of supply problems, high freight rates, and the container crisis the world is witnessing, the face of.
Despite Corona .. Turkey is the focus of investors' attention
With the exacerbation of supply problems, the rise in freight prices and the container crisis that the world is witnessing, European companies importing from the Far East directed their investments to other countries, especially Turkey, which has become the focus of attention and interest of foreign companies with its advantages and opportunities for investors.
According to information collected by Anatolia, the rapid spread of the Corona epidemic after the discovery of the first infection in the Chinese city of Wuhan on December 31, 2019, caused changes in the global and Turkish economies.
In the first year of the spread of the epidemic, countries began to take closure measures, either complete or partial, to prevent the spread of the virus, and this affected all areas of life, as economic activity and trade stopped at the world level for some time and many people lost their jobs.
The epidemic has also exacerbated health problems, especially in low-income countries, countries have closed their borders, and globalization has declined.
The stagnation of the global economy due to the crisis of supply and demand led to a contraction of trade.
The global economy shrank by 3.2 percent in 2020, and the volume of trade shrank by 8.2 percent, followed by a 35 percent drop in the value of foreign direct investment globally.
With the acceleration of vaccination efforts worldwide and the beginning of the stage of returning to normal life, the global economy began to recover.
With the recovery of economies there was a significant increase in demand, and countries that depend on imports from the Asian continent began to face problems in the production and supply chains.
The deterioration of supply chains and the inability to meet the increasing demand of consumers has led to higher prices globally.
On the other hand, the imbalance between supply and demand in the world trade system caused logistical problems in sea transport, and the problem of container shortages led to a significant rise in freight rates.
With the increase in demand for goods and shortage of containers, freight rates have multiplied 10-fold, and finding shipping containers has become difficult.
Freight prices on the Far East-Europe line have risen to the level of $20,000, after it was $2,000 before the outbreak of Corona.
Turkey offers many advantages to investors
With the doubling of long-distance transportation prices, many international companies began to see Turkey as an attractive production and investment center thanks to its geographical location and cost advantages.
And European companies that were importing from the Far East countries turned to other closer and more stable centers such as Turkey.
International companies working in various fields such as food, medicine, furniture, electronics and packaging have announced new investment plans for them in Turkey, due to its geographical location, strong logistical infrastructure, and qualified workforce.
Among these companies are the Swedish Ikea for furniture, the Polish "LBB" for ready-made clothes, the German "Boehringer Ingelheim" for medicines, and "Dr. and Reusables, a Belgian packaging company.
The Japanese electronics company Kaga also announced recently that it will increase its investments in Turkey.
The Turkish economy will overcome the effects of the epidemic in 2021
The global trend to production in nearby countries due to high transportation prices provided new opportunities for Turkey, whose economy began to recover from the repercussions of the epidemic in 2021.
Some economic indicators in Turkey, such as exports and industrial production, recorded a decline in 2020 due to the epidemic.
The Turkish economy continued to progress positively during 2021, with the period of life returning to normal and the increase in the vaccination rate, in addition to the steps taken by the economic administration.
Turkey achieved a growth rate in the third quarter of 2021 that reached 7.4 percent, and became the second country to achieve the highest growth rate in the Group of Twenty.
Exports and industry were the engine of growth in Turkey, and exports set many historical records during 2021.
It is expected that Turkey will become one of the countries that will focus on investment during 2022, thanks to the new economic model based on investment, production, employment and export, which was announced recently by President Recep Tayyip Erdogan, and Minister of Treasury and Finance Noureddin Nabati explained all its details.
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