Turkey BY ntm289 Abstract This paper explores the different characteristics in the economic and cultural aspects in the country of Turkey in relation to introducing a foreign business into a new country. The economic characteristics that will be assessed will be factors such as GDP per capita and GDP growth rate, Inflation and Unemployment, FDI inflows, FDI potential index, and FDI performance index, along with the countrys competitive index.
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There will be an explanation of how the factors mentioned above have effected the countrys economic freedom in the last 10 years and how it changed, how orruption changed in the last 10 years, and how governance changed in the last 10 years. Lastly it will explore the countrys culture relevant to running a business in Turkey such as the political, legal, social, religious, and gender based aspects along with an evaluation of the Hofstede framework for Turkey.
In 2002, Turkey, along with many other countries, suffered from a global economic downturn but came out relatively un-hurt and continued through out the years to work on a more open and free economy (2013 index of). Their largely free-market economy is driven by its industry and service sector with 25% of employment coming rom its traditional agriculture