Turkey Property and Economy News Roundup June 2011

Liverpool, United Kingdom (PressExposure) June 29, 2011 -- Economy to Grow 6% in 2011

This week saw the World Bank join the EU and the OECD in predicting growth of more than 6% in the Turkish economy this year. The World Bank had previously predicted growth of 4.1% for this year, but has now put its prediction up to 6.1% for 2011. The World Bank is also predicting strong growth in 2012 and 2013 at 5.1% and 5.3% respectively.

Car Sales Continue to Soar

This week the Automotive Distributors Association (ODD) reported that car sales in the first five months of this year were up 54% compared to the same period of last year. This represents a slowdown on the 64% year on year growth recorded for in the 4 months ending April.

May set a new record for sales, with 80,000 vehicles sold representing a 35% increase over May 2010, this follows year on year growth of 88%, 51% and 41.1% respectively in February, March and April. Growth is slowing because the government has intervened to stem the flow of easy credit. This is good news though, because such huge growth often turns out to be unsustainable.

Istanbul Ranked in Top 10 Tourist Destinations

A Mastercard study has ranked Istanbul Property the 7th biggest tourist destination in the world in terms of expected tourist arrivals. The bustling metropolis beat off competition from New York, Roma, Dubai and Amsterdam. The study predicted that visitor numbers to Istanbul would grow by 20.4%, the third biggest growth rate predicted by the study, which covered 132 cities.

AKP Party Re-elected

The Freedom and Justice (AK) Party was elected for its 4rd term with Prime Minister Erdogan at the helm. The party received 50% of the votes.

Exports Reach Record Level in April

Turkish exports grew to the all time high of 11.8 billion USD in April according to the latest figures from the Turkish Exporters Assembly (TIM) President Mehmet Buyukeksi. This represents a 25% growth on April 2010. Exports during the first 4 months grew 22.6% to 43.2 billion USD.

"Turkey's 'zero-problem' foreign policy helps establish better trade relations with surrounding countries, which in turn increase exports to our neighbors," said Buyukeksi at the press meeting, referring to steps taken by the government to facilitate doing business and trade with countries in the region. "Turkey's exports to the countries in its region have risen considerably in the recent years," said TIM President, noting that Iraq, Iran, Syria, Egypt and many others in the region have become important trade partners.

Alanya Gazipasa Airport Welcomes First International Flight

Alanya Gazipasa airport welcomed its first international flight, a Transavia Boeing 737 landed from Holland at around 21:00 on the 27th of April. Its arrival was a great celebration, with the fire brigade greeting the aircraft with a water arch, and local children performing Turkish music and dance.

Now that it is receiving international traffic the airport has the potential to massively boost the Alanya economy and Turkey property market; currently people travelling to Alanya land at the Antalya airport 90 minutes away.

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Press Release Submitted On: June 29, 2011 at 10:07 am
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