Turkish President Recep Tayyip Erdoğan announced at the congress of the ruling Justice and Development Party that Turkey’s share in global GDP has reached 1.1%, highlighting the country’s stable growth.
The president assured that the government will continue its active fight against inflation, leading to increased purchasing power for citizens. A large-scale economic reform program has also been announced, aimed at stimulating investment and increasing production volumes.
Growth in Household Income
The average per capita income has increased from $3,600 in 2002 to $13,243 by the end of 2023 and is projected to exceed $15,000 in 2024.
Turkey: A Trillion-Dollar Economy
Turkey's economy is now among the largest in the world, which, according to Erdoğan, paves the way for a significant economic breakthrough.
According to the International Monetary Fund (IMF) data for 2023, Turkey ranked 12th globally in terms of Gross Domestic Product (GDP) based on Purchasing Power Parity (PPP). Previously, in 2020, Turkey climbed to 11th place.
Development of High-Tech Industries
The output of the high-tech sector has grown from $95 billion to $320 billion over the past 22 years. Turkey also holds the 11th position in the world in terms of PPP and ranks 4th in Europe.
Success in Key Sectors
Turkey has become a global leader in drone manufacturing, entered the top 11 countries in arms exports, and achieved significant success in the automotive, agriculture, and tourism industries.
Record-Breaking Tourism Figures
Turkey’s tourism sector reached record numbers, welcoming 62.2 million visitors, a 9.8% increase from the previous year. Tourism revenues hit $61.1 billion, growing by 8.3%.
Antalya alone received 17.3 million tourists.
Credit Rating Improvement
International rating agency S&P Global Ratings upgraded Turkey’s long-term credit rating from "B+" to "BB-" with a "stable" outlook. This decision reflects the country’s successful measures to stabilize the economy and reduce inflation.
Industrial Production Growth
Over the last 22 years, the volume of high-tech production in Turkey has surged from $95 billion to $320 billion.
Record-Breaking Export Performance
In 2024, Turkey reached a historic milestone, exporting goods worth $261.9 billion, a 2.5% increase from the previous year.
Steel exports grew by 27.6%, reaching 13.4 million tons.
Fresh fruit and vegetable exports totaled $3.4 billion.
The main importers of Turkish goods were Russia, Germany, and Romania.
Economic Reforms & Investment Opportunities
President Recep Tayyip Erdoğan has announced a large-scale economic reform program aimed at stimulating investment and improving the quality of life. Particular attention will be given to fighting inflation and further developing key economic sectors.
Real Estate Investment
Turkey continues to demonstrate stable growth and strives for new achievements on the global economic stage.
Turkey’s expanding role in the global economy makes real estate investment a smart and profitable choice, especially for those seeking Turkish citizenship for the entire family. The country offers broad opportunities beyond just visa-free travel and a second passport.
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We also offer investment properties with rental management and a guaranteed annual return of 5% in euros.
