Turkey is located in the UTC+2 (GMT+2) time zone, which enables it to communicate with both eastern and western countries during the same working day.
Turkey’s 783,562.38 km2 of land is divided into seven geographical regions: the Marmara, the Aegean, the Mediterranean, the Southeastern Anatolia, the Eastern Anatolia, the Central Anatolia, and the Black Sea. The country is surrounded by four seas: the Mediterranean Sea, the Aegean Sea, the Sea of Marmara, and the Black Sea.
Turkey has a total population of 74 million, with half of the population under the age of 29.3.
Population-Age Groups Pyramid (2010)
Source: Turkish Statistical Institute (TurkStat) and United Nations (UN)
2. LABOR FORCE
Turkey has a total population of 74 million, of which more than 25 million people are active in the labor force. Turkey has the 4th largest labor force when compared with the EU countries.
Labor Force (in millions) - 2010
Source: International Labor Organization (ILO)
Turkey’s young population is an important contributor to labor force growth and has helped Turkey to rank above its competitors.
The distribution of the workforce among many diverse sectors reflects the wealth of opportunities offered to investors. Turkey is very competitive in terms of labor cost and productivity. It has witnessed a stable increasing trend in labor productivity, together with a decreasing trend in real unit wage.
Productivity and Real Unit Wages Index in Industry
(Per Worker; 2005=100)
Source: Turkish Statistical Institute (TurkStat)
Labor Cost Per Hour (USD) 2010*
Source: Economist Intelligence Unit (EIU)
*Average cost of labor per hour (pay and non-pay costs)
The Turkish labor market is one of the best in the world thanks to the qualifications, skills, dedication, and motivation it offers.
Source: IMD World Competitiveness Yearbook 2010
Scores (0: Not Available, 10: Available)
Turkey has a young, dynamic labor force, and a strong work ethic is an important part of Turkey's work culture. The workplace as an institution is cherished in Turkey, as it allows individuals to utilize their skills and to work towards self-advancement. The labor force's dedication to work is shown via Turkey's high productivity, low absenteeism, and its status as one of the countries with the highest annual working hour rates.
Average Number of Sick Days Per Employee
Per Year in Europe (2008)
Source: MERCER-Pan-European Employer Health Benefits Issues Survey 2008
Hours Worked Per Week of Full Time Employment -Annual Average (2010)
• Around 3 million students in tertiary education
• Approximately 500,000 graduates from 156 universities
• World-class engineering education
Number of Students Enrolled in Tertiary Education – 2009
Number of Graduates in Tertiary Education – 2009
Number of Students Enrolled in the Field of Engineering, Manufacturing & Construction (Tertiary Education) – 2009
Number of Graduates in the field of Engineering, Manufacturing & Construction (Tertiary Education) – 2009
Source: Republic of Turkey Prime Ministry Investment Support and Promotion Agency
|Moody's lifts Turkey's sovereign credit rating to investment grade|
|Turkey to grow economically in Balkans|
|Dogus Holding wins Galataport bid|
|Global economy-finance sector conference in Istanbul|
|Turkey pays off the last installment of its debt to IMF|
|Turkey should focus more on Middle Eastern, African markets|