Introduction to Turkiye

Türkiye (officially the Republic of Türkiye) is a strategically positioned nation straddling both Europe and Asia, often described as a bridge between East and West. With its rich cultural heritage, dynamic society, and growing economy, Türkiye is a compelling destination for students pursuing business and management education.

As of 2025, Türkiye’s population is approximately 87.6 million, making it the 18th most populous country in the world. The population is predominantly young, with a median age of around 33.5 years, offering significant demographic advantages for both economic and educational growth. The country is ethnically diverse, predominantly Turkish, but with notable Kurdish, Arab, Circassian, and other minority communities.

Major Cities

• Istanbul – With over 15.6 million residents, Istanbul is Türkiye’s largest city and economic powerhouse. Historically known as Byzantium and Constantinople, Istanbul is a cultural melting pot and the main center for finance, media, trade, and higher education.
• Ankara – The capital of Türkiye, Ankara has a population of around 5.8 million and is the seat of government. It hosts major public institutions, embassies, and several prestigious universities.
• Izmir – Situated on the Aegean coast, Izmir is Türkiye’s third-largest city (approx. 4.4 million residents) and a significant commercial port and industrial hub.
• Bursa is the fourth-most populous city in Turkey, and as of 2019, the Metropolitan Province was home to 3,056,120 inhabitants. Most of Turkey’s automotive production takes place in Bursa.

The National Economy – Key Facts and Figures

Türkiye’s economy is one of the largest and most diversified in the region. With a GDP of approximately $1.32 trillion USD in 2024, it is classified as an emerging market economy and is a member of the G20 group of major economies. Despite regional instability and global economic shocks, Türkiye has demonstrated economic resilience and strategic adaptability.

Economic Highlights:

• GDP Growth: Türkiye’s economy grew by 3.2% in 2024, rebounding from earlier economic challenges and outperforming many regional peers.
• Inflation and Interest Rates: After peaking in the early 2020s, inflation dropped to 39.1% in early 2025, aided by interest rate hikes and fiscal reforms. While inflation remains a concern, structural reforms are underway to stabilize the economy.
• Employment and Income: The average monthly gross salary in Türkiye is around 15,000–20,000 TRY (approx. $500–650 USD), though this varies widely by region and sector. Mid-level managers in multinational companies often earn 40,000–80,000 TRY/month, and senior executives can earn significantly more, especially in high-growth sectors.

Key Industries and Growth:

• Automotive: Türkiye is a major automotive producer, with global manufacturers such as Ford, Toyota, and Fiat operating large plants. The sector employs over 400,000 people and contributes over 10% of exports.
• Technology and Startups: Türkiye’s tech sector is growing rapidly, especially in Istanbul, Ankara, and Izmir. The country has produced unicorn startups such as Trendyol and Getir, with significant investments flowing into fintech, SaaS, and e-commerce.
• Tourism and Hospitality: With over 50 million tourists annually, Türkiye’s tourism sector is a major employer and contributor to GDP, supporting roles in hospitality management, logistics, and marketing.
• Textiles and Apparel: Türkiye is Europe’s largest textile exporter. The sector remains labor-intensive but increasingly demands management talent for supply chain, retail, and global branding.
• Finance and Banking: Türkiye’s banking sector is well-developed and increasingly global in orientation. Istanbul aims to become a regional financial hub, supported by the new Istanbul Finance Center (IFC), which opened in 2023.
• Construction and Real Estate: Driven by both domestic demand and regional contracts, Türkiye’s construction sector offers high demand for project management and real estate development professionals.

Importance of Business and Management Education:

As Türkiye continues to globalize and attract foreign investment, the demand for skilled business professionals is growing. Several key factors make business and management education a strategic career choice in Türkiye:

• Workforce Transformation: As Türkiye transitions from a manufacturing-based economy to a service and knowledge-based one, there is increasing demand for professionals skilled in finance, HR, marketing, operations, and digital transformation.
• Entrepreneurial Ecosystem: With the rise of venture capital and incubators in Türkiye’s major cities, young professionals with business acumen are well-placed to launch startups or work in growth-stage companies.
• Corporate Internationalization: Turkish conglomerates such as Sabancı Holding, Koç Holding, and Turkish Airlines operate across multiple continents, creating opportunities for globally-minded managers.
  English-Taught Programs and Global Credentials: Many universities offer MBA and business degrees in English. International accreditations (e.g., AACSB, EQUIS) are increasingly common, and English language fluency is now a critical skill for professional advancement in Türkiye.
• Access to European and Asian Markets: Türkiye’s Customs Union with the EU and close commercial ties to the Middle East and Central Asia make it a strategic location for professionals aiming for regional leadership roles.