Turkey Officially Has the World’s Fastest Growing Economy
Turkey’s time in the sun continues with the news that the country now officially has the world’s fastest growing economy, reports property portal for real estate in Turkey House Sales Turkey (http://www.housesalesturkey.com/). While Turkey’s economy has been gaining significant strength in recent months, the extent of this is clear in a new report which states that Turkey’s GDP growth now outstrips both China and Argentina.
Turkey’s national statistics organisation Turkstat has published a new report which details that the country’s GDP growth has reached an impressive 11% in 2011, being the only country in the world to reach the double digit growth mark. China and Argentina, both countries with steadily rising GDP growth in recent years, achieved a 9.4% rise and 9.9% rise respectively, making Turkey officially the fastest growing global economy at this current time.
Turkey has now taken a prominent place on the world stage, attracting the attention of market analysts, investors and even top global politicians. Speaking at a diplomatic conference in Istanbul, U.S. Secretary of State Hilary Clinton stated that she hoped Turkey would lead the way for similar growth hikes in other Middle Eastern Countries: “The 11 percent growth rate is phenomenal” she said. “What I hope is that Turkey will become an engine for economic growth in the region”.
In a world which is still dealing with the aftermath of a global downturn, when the list of countries defaulting on national debt seems to grow longer each year, an economic success story such as Turkey is even more impressive and far-reaching. Property in Turkey will of course directly benefit from a steadily growing economy, but when that economy becomes the fastest growing in the world, the future of real estate in Turkey solidifies ten-fold.
Property investors are flocking to the country more than ever: a recent survey from an investment firm named Turkey as the second most popular country for overall investment. The capital city Istanbul is the fastest growing tourist city in the world with tourist figures up 30% on last year, while other tourist destinations around the world suffer a decline. Buy to let investors in property in Turkey don’t just have to turn to apartments in the capital for high rental yield, however, with villas in Turkey also being in high demand. Bodrum is being tipped as the Turkish St. Tropez and many other tourist hotspots around the country are enjoying a tourism boom, creating demand for all types of Turkish investment properties.
The future for the nation of Turkey looks bright, with a booming property and tourism market and an economy which is, in Hilary Clinton’s words, “phenomenal”.
If you are interested in investing in Turkish property, or wish to buy or sell your property in Turkey, talk to the experts at http://www.housesalesturkey.com/.
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