Is Turkey becoming a global retail center?
Turkey and Istanbul in specific which is one of the major giant cities in the world is becoming a spot of attraction more and more, each day.
Turkey’s rapidly growing economy and rising prosperity levels are increasing the appeal of the country for international retailers, according to surveys conducted by experts.
Not until a couple of decades ago was this giant city was so popular on the globe to attract millions of visitors which means money coming in, on top of the locals who really “love” to spend given the opportunity to do so.
In other words Turks love to spend money and especially big cities.. They love to follow fashion especially as far as young people are concerned..
Many global brands that have discovered this point have come and settled down in Turkey. In fact most of them have been running very successful operations all along.
It goes without saying the swift development in internet technologies and the opportunity of following most recent “everything” prevailing in the western world has been a motivating (tempting rather) factor to push Turkish consumers to spend even more.
On the other hand the active policies pursued by Turkey recently in specific has enabled the country to find a place in the center of the global agenda much more frequently and thus woken up foreign investors.
Many global enterprises are now aware that the Turkish market has so much to offer and is very appealing in terms of strong growth and fat profits, certainly.
This on the other hand is obviouly bound to bring along tough competition between all hungry cats.
Based 0n some recent reports issued by expert companies in the world, 326 of the world’s top retailers throughout 200 cities in 70 countries, found that Turkey ranked 14th, attracting 39 percent of all international retail brands.
The data also shows that Turkey’s largest city Istanbul is a major target for European retailers with 48.1 percent of the old continent’s surveyed brands, present in the city.
Global events organized by the administration also contributes to ever-fast reputation growth of the city.
For instance, an international shopping festival organized beginning last year proved to attract millions of domestic and international shoppers.
To recap, the answer to the question in the header is; “Yes, it is the right time to rush to Turkey and Istanbul, in specific”.