TL the TURKISH LIRA...
After four years of currency reform, there is no doubt to say, that it was a big success. The programs to make a strong and reliable currency started 6 years before, when inflation rates peaked almost 150% driving turkish investors to foreign currencies.
Most of them didn't trust the reforms and left their $ investments and lost in 5 years 20% against the Turkish Lira, while investors in Turkish TL treasuries made more then 400% profit in the same time. The present Turkey is seen as the Switzerland of the middle east, attracting investors from all over the world.
Though volatility is still present at the markets, caused by political and global events like elections in Turkey or the latest turbulence's the credit crunch, are fast forgotten by optimistic outlooks of the Turkish economy, giving the TL power to set new heights.
These volatilities, hurting only anxious investors, should be used for new engagements in TL, offering double digit gains in a few weeks.
THE TURKISH MARKETS
The last turbulences caused by the credit crunch showed us old rules going upside down while as hitherto Turkish stock markets and Turkish residential and commercial properties, suffered much more than the established markets with every crisis, this time the Turkish markets proofed to be a save haven for investments.
At the deeps of the last crisis in january 2009 it could be observed verry clearly when the market capitalisation of the 3 biggest turkish banks where higher then worlds biggest banks like the Citygroup.
The main reason of the stability of the property market in Turkey is though rising prices in the last years that they are still undervalued and an unbraked demand for holiday reason for Turkish properties.
BUSİNESS IN TURKEY
a combined study between Knight
Frank and the Financial Times put Turkey in the top ten places to invest in 2009 (Financial
Times, January 2009).
20 000 foreign company
are investing in Turkey leaded by German and U. K. companies.
A consum willing young population ( 70% of Turkey's population is under the age of 35) makes retail and business booming.
Turkey offers young and skilled workforce for overseas companies.
