Turkey among “New Tigers” of the global economy
(Investment Support and Promotion Agency of Turkey/Hürriyet) Turkey’s robust economy and strong growth performance once again made it to the headlines of one of the most reputable news portals monitoring developments in the world of finance and economics. The MarketWatch, part of the The Wall Street Digital Network, published an article on the leading emerging nations that are expected to overtake the current economic powerhouses such as the US, Japan, Germany, France, the UK, Italy and Canada in terms of growth, naming Turkey in Europe, alongside Poland, as such a country to reshape the global economy. Poland and Turkey have managed to distance themselves from Europe’s continuing debt crisis, the article read, adding that Turkey has the potential to be the economic superpower of the region. Taking opinions from experts and academics on Turkey, the MarketWatch piece underscored Turkey’s young population, with only 6.3 percent of about 75 million people aged 65 or older. “The engine of growth is the country’s position as a trading hub, stands at the crossroads of several important energy markets” as it borders Iran, Iraq and Azerbaijan, and has access to the Mediterranean Sea and the Black Sea.” “International corporations increasingly prefer to use Turkey as a regional export hub because of its political stability and large domestic market,” said Martina Bozadzhieva, practice leader for Central and Eastern Europe at the Frontier Strategy Group. “Turkey has a great location, next to affluent Europe and a booming Middle East, and with a large population and competitive wages, it has become “the region’s workshop,” said Ravi Ramamurti, director of the Center for Emerging Markets at Northeastern University. Turkey has been one of the world's fastest growing economies during the last two years, with growth rates of 9.2 percent in 2010, 8.5 percent in 2011. 23.05.2012
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