The Turkish Lira

The Turkish Lira

Over the past fifteen years, the Turkish currency, the Turkish Lira (TRY *) depreciated considerably against the US dollar and the Euro. During this period, inflation was Turkey’s main economic challenge. The hyperinflational periods which plagued Turkey in the...
Turkish Hierarchy

Turkish Hierarchy

If you are used to an “Anglo-American” business culture, the Turkish hierarchy will almost certainly be the biggest difference in working style you will experience. Whilst employees of a big firm or government office may well be good friends outside the office, it is...
Turkish Business Etiquette and Punctuality

Turkish Business Etiquette and Punctuality

Be on time for a meeting! Southern European countries may have a reputation for being laid back about time, but don’t be late for a business meeting! Turkish business etiquette dictates, where lateness happens, it is usually the privilege of the more powerful party:...
Leigh Turner talks about the Importance of Turkish

Leigh Turner talks about the Importance of Turkish

Leigh Turner CMG is the Director General for Trade and Investment Turkey, Central Asia and South Caucuses. He is Her Majesty’s Consul General in Istanbul UKTI promotes and works together with British businesses abroad and encourages best practice. Could you tell...
Turkey’s Diversified Economy in the last 20 Years

Turkey’s Diversified Economy in the last 20 Years

Over the past twenty years, Turkey’s economy has diversified massively from a heavy reliance on a few sectors to an increasingly diversified economy. In 1993, Turkey’s export economy was heavily reliant on three sectors: textiles, raw materials and...
New Istanbul Airport

New Istanbul Airport

New Istanbul Airport key to Turkey’s economic ambitions One of Turkey’s key assets is its location. Aside from being romantically located between Europe and Asia and literally bridging the two continents via the Bosphorus bridge (as illustrated by millions of...