Recently, Citi surveyed companies in Bahrain, Czech Republic, Jordan, Hungary, Poland, Poland, Romania, Russia, Turkey and the UAE, with annual average revenues of $44m to see their expansion plans. The results suggest that most bosses are looking forward to expand to neighboring or close countries, however, the results differ when it comes to Turkey.
As can be read off the above chart, Turkey is the only country of origin that gave a significant nod to Africa – with 26 per cent. The next most popular was “Other European country”, scoring 18 per cent with Turkish respondents and according to Citi survey, Nearly half of Turkish companies looking overseas are manufacturers.
On the other hand, the export numbers have told us a different story till now.
Shall we expect a notable change in near future by the tendencies of Turkish business environment? Maybe. At least expanding network of Turkish Airlines in Africa is a good sign of progress.