3/26/2013

Turkey listed among drivers of future economic growth

Sabah – A country that has passed the test of the global financial crisis with flying colors, Turkey is once again named as one of the leaders of global growth in the coming years. The slowing growth in so-called BRIC (Brazil, Russia, India, China) countries has prompted the investment firm Turner Investments to turn to other emerging markets, including Turkey, to keep an eye on as future growth champions.

The report titled “Look out, BRICs, here come the TIMPs” discusses the reasons behind the slowing growth in BRICs and names Turkey, Indonesia, Mexico and the Philippines as the upcoming leaders in global economic growth. The US asset management company underlines Turkey’s strategic location in its report, listing robust growth, positive demographics as well as strong tourism and productive auto industry as strong points of the country.


Turner Investments was not the first to spot Turkey’s potential as the country was named among CIVETS -an acronym by Robert Ward from the Economist Intelligence Unit later adapted by HSBC comprising Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa- another set of emerging markets that are expected to lead global growth in the next decade. MINT, a term coined by asset management firm Fidelity also features Turkey as one of the key countries presenting promising investment opportunities. Turkey is also a member of the SAMI, Muslim world’s answer to BRICs, standing for Saudi Arabia, Ankara (Turkey’s capital), Malaysia and Indonesia, representing the highest growth potential in the Organization of Islamic Conference member countries.

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