Developments and Opportunities
TURKEY, WITH ITS GROWING MIDDLE CLASS AND YOUNG POPULATION, CONTINUES TO BE AN IMPORTANT MARKET.
The increase in marriages, as well as in divorces, and the sizeableness of the middle class are important drivers of domestic demand. In addition to this, the state occasionally fuels domestic consumption with SCT reductions, as it did in 2017.
Looking at the exports side of things, we see that EU is the most important market for the Turkish home appliance industry. The re-stabilization and recovery of EU’s economy is a development that will positively affect the Turkish home appliance industry. In addition to this, Turkish home appliance industry has, in recent years, started to diversify its exports in order to reduce its dependence on the EU market. For example, China and Canada, with the size of their populations and economies, are two of the rapidly rising markets.
Turkey is in a very advantageous position in regards to home appliance costs. From a logistics point of view, its proximity to the European market has excited the interest of Chinese investors. Low labor costs also play an important role in making Turkey an attractive country for investors.
Yet 60% of the level of Internet usage in Turkey, and it’s as well as the proportion of internet shoppers is increasing over the years. In the last 1 year, this rate has increased by 20% from 20% to 24%. Turkey in Internet use and online shopping habits of online shopping and increased and the ratio of products compared to other products such as white goods is quite low (12%) Considering that. the development of an open market for white goods sector in Turkey the opportunity to pitch.
Finally; State of Turkey Made in Turkey Turquality exerted to strengthen the image and Improving International Competitiveness well as programs such as the Program as R & D incentives, premium support, supports the white goods sector with applications such as KDV reductions.