Country Analysis – Turkey

Country Analysis – Turkey

For the herbal weight loss pills to be successfully sold in Turkey, the country will need to have a favorable business environment for such a product. The following is an analysis of the country’s environment to determine its favorability for the business.

Background and History

Turkey is an independent country located in Southeast Asia, particularly in the Middle East. The country borders three major waters; the Red Sea, Black Seas, and the Aegean. The name Turkey is derived from the local name of the country; Turkiye Cumhuriyeti. The country is neighbored by Greece, Iraq, Syria, Bulgaria, Georgia, and Armenia (State University, n.d). Most of Turkey’s Major boundaries were established after the fall of the Ottoman Empire. Throughout history, Turkey has been a center of trade because of its strategic location between two continents.

Inhabitants, Lifestyle, and Culture

            Turkey has an estimated population of 80 million people. Almost half of the population lives in the coastal regions of the country. Over 80% of the population is made up of Turkish people, while the remaining 20% is Kurdish. The most commonly spoken language in the country is Turkish, but other languages like Zazaki, Arabic, and Kurmanji are also spoken by a significant percentage of people. The country has a heterogeneous and heavily diverse culture. Elements of Turkish culture are derived from several cultures, such as Eastern European, Caucasian, West Asian, and Central Asian Cultures.

Economy and Currency

            According to the International Monetary Fund (IMF), Turkey is an emerging economy. This is a newly industrialized country and is a well-performing economy. The country’s GDP is estimated at $850 billion. The country has a GDP growth rate of 7.4% and an unemployment rate of 14%. The currency used in Turkey is the Turkish Lira.

Government and Legal Environment

            Turkey has a democratic government system led by a president and a legislature that sets the laws and regulations of the country. This is similar to the U.S. system, where the Federal government is led by the President while laws are set by Congress. The country has a relatively secure national security system. However, Terrorist organizations such as PKK put the country under threat (Kayumi, 2014). Turkey has also recently been in conflict with Syria. This conflict has attracted global attention and could cause issues in the business environment. Nonetheless, Turkey has relatively favorable trade policies. The country is also one of the main EU partners. This partnership has enabled the country to implement better trade policies to encourage foreign investments.

Technology and Infrastructure

            Turkey is a technologically advanced country. Being an emerging economy, its government has invested in advanced technologies that would help to improve the capabilities of the country’s businesses (Kayumi, 2014). Additionally, the country has a developed infrastructure. The country has four major container ports that can be used for international trade transportation. Within the country, there are air, road, and train movement options for the transportation of merchandise from one point of the country to another.

Conclusion

            Turkey is generally a good business environment. The country has favorable policies that will support a global business. The only major limitation of doing business in Turkey is the potential for insecurity that is caused by political instability and international relations issues.

References

Kayumi, B. (2014). PESTEL analysis of Turkey. Retrieved from: https://www.grin.com/document/271183

State University (n.d). Turkey Background and History. Retrieved from: https://education.stateuniversity.com/pages/1560/Turkey-HISTORY-BACKGROUND.html

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Once your product and company selection have been approved for further investigation, conduct an in-depth analysis of the country you have chosen for the feasibility project. This analysis should include a written description of the following:

Country Analysis – Turkey

Country background and history.
Location, geography, and terrain.
Inhabitants, lifestyle, culture, and customs.
Communication and language.
Economy.
Currency.
Legal environment, including import regulations.
Government.
Military.
Transportation.
Technology.
Housing.
Sports.
Weather.
Music.
Health.
Industry.
Entertainment.
Any other pertinent information that will assist you as you determine the attractiveness of this country for your product.
Do the following:

Analyze all of the relevant political and legal structures and hierarchies of the country selected (if helpful, you can refer to the bulleted list above).
Analyze all of the relevant social structures and hierarchies of the country selected (if helpful, you can refer to the bulleted list above).
Illustrate differences and similarities of selected countries’ social, political, and legal structures and hierarchies to those of the U.S. using real-world examples.
Illustrate the cross-cultural communication issues that could result from differences in social, political, and legal structures and hierarchies of the selected country and those of the U.S. using real-world examples.
Then, to help with your project in future weeks, briefly provide the following:

Summarize the issues you will need to consider as you continue to develop your feasibility study.
Offer your assessment of the situation at this point in your investigation.
Determine how strongly you still feel about the attractiveness of this opportunity.
Support your position with one additional resource from either globalEDGE or the Capella University Library.