World Bulletin - Turkey's organized retail sector is promising an investment of USD 5 billion and some 135,000 new jobs by 2012, says a joint report by PricewaterhouseCoopers (PwC) Turkey, and Turkey's Shopping Malls and Retailers Association (AMPD). The report entitled "Glimmering Star- Impact of Retail Sector on Turkish Economy", which was made public at a press conference, gives good news about the Turkish economy, as the retail sales reached TRY 317 billion in 2009, marking a significant rise of TRY 23 billion when compared with the previous year, and is expected to rise to TRY 448 billion by 2013 (USD 1 = approx. TRY 1.49). Each shopping mall is believed to create 1,500 jobs on average, and based on this rate; the sector is expected to create 135,000 new jobs by the end of next year, and the total employment in this sector is expected to reach 650,000.
AMPD's Chairman Mehmet Nane regards the organized retail sector as the barometer of the Turkish economy, and says 50 more shopping malls will be opened in 2011, while some TRY 5 billion USD of new investments will be made in 2011.