According to the prime minister's office, the information and communication technology (ICT) sector's growth is outpacing GDP growth significantly, with a compound annual growth rate of almost 15 percent over the last decade. The size of the sector, estimated at about $29 billion by Deloitte, is still significantly below the EU average, pointing to a nice upside.
The sector is still dominated by the telecommunications industry in terms of revenue. However, the driver of growth will probably be the result of an offline-to-online migration in multiple sectors, similar to what has been experienced in the United States and the European Union.
A dramatic characteristic of the Turkish market is how connected it is. The Turkish Investment Agency estimates 50 million Internet users. With 32 million users, Turkey ranks as the seventh country on Facebook. The aggregate attention on digital media is immense.
Click here to read the full article at CNBC.