Turkey is known for its unique placement between Asia and Europe and for offering prosperous long-term opportunities for American firms
Turkey is known for its unique placement between Asia and Europe and for offering prosperous long-term opportunities for American firms. “Turkey has a steady economy, rising middle class, youthful population, and dynamic entrepreneurial class.” (“Doing Business in Turkey”, 2016) Turkey has an advantage in that it supplies energy to many countries surrounding it and is considered a gateway to opportunity if one wants to conduct business in the Middle East and Asia. Turkey has also been working on becoming a member of the European Nations which would be an advantage in the future and would the country conducting business. The ease of doing business in Turkey is 60 out of 190 and despite being the 17th largest economy, there have been many issues the past couple of years some of which have included limited media exposure, limited freedom of speech within the country and issues with their mixed economy. To successfully conduct business in this nation you need someone who is knowledgeable with their culture and values because there is a high cross-cultural risk in this nation. In an article by the Economist, “Turkey’s president, Erdogan started by ordering the word “arena”, which reminded him of ancient Roman depravity, removed from sports venues across the country.”(“Turkey’s president wants to purge Western words from its language”, 2017). This is one of the many words that President Erdogan would find offensive or distasteful, which is why prior research of culture is important to not make a costly mistake.
