Turkey’s economy is the fastest-growing in Europe, with the per-capita income having tripled to more than $10,000 during the ten-year rule of Prime Minister Recep Tayyip Erdoğan.
That growth trend is set to continue, according to commentators, despite speculation that the widespread demonstrations and a heavy-handed response from security forces could mark the start of a ‘Turkish Spring’.
“These demonstrations seem to be fairly natural in other contexts, such as Spain and Greece. I don’t think they will have any impact on the economy,” said John Sfakianakis, the chief investment strategist of Masic, a Saudi Arabian family investment company. “However, if these are long-lasting events, it could be different.”
Sfakianakis said the fundamentals of the market are solid, with a strong appetite for investment in Turkey.
“I’m very bullish about Turkey in general. The numbers are very optimistic, in the property sector in particular,” he said. “The foreign-direct investment appetite is there. Turkey has managed to grow at phenomenal rates.”
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