Grain has a long history in Turkey. In the foothills of the Karacada ğ Mountains in the south-east, wild grass that is genetically identical to the first grains domesticated 11,000 years ago still grows. Today, agriculture remains a cornerstone of the economy, employing a quarter of the workforce and contributing more than 8% to GDP, according to...
Rapid economic growth, a young demographic profile, and the stirrings of gentrification in Europe’s largest city combined make Turkey one of the hottest real estate attractions around. In line with other markets exposed to the European debt crisis, however, it may see a speed bump in the near term.
Hydroelectricity is the cornerstone of Turkey’s goal to boost renewable energy supply, but building thousands of dams comes at an environmental cost. Retired imam Kazım Delal avoids visits to his beloved Küçükcayır, the village where he grew up and that his family has called home for five generations. Located in the lush Salarha Valley in the...
Even as global steel output hit a new record, Turkey clocked the world’s fastest growth in steel production in 2011. Now consumption worldwide is set to decrease due to continued economic strains in Europe and a slowdown in China. In spite of these challenges, however, Turkish steel should still see robust growth in the coming years as domestic...
After two years of secret planning, Prime Minister Recep Tayyip Erdoğan in 2011 revealed his “crazy project”: digging a 50-km-long, 150-metre-wide canal from the Black Sea to the Sea of Marmara. The canal would turn half of Istanbul, a city of some 16m-18m residents, into an island and rival the engineering feats at Suez and Panama.
With strong year-end results both in 2010 and 2011, Turkey’s construction sector emerged from the 2008-09 financial crisis in relatively good shape. A projected slowdown in the local economy due to European sovereign debt woes means the double-digit growth is unlikely to be repeated in the near term, but the underlying fundamentals look strong.
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