Guys, we read yesterday that while the global economy is "crawling," Turkey is putting on an absolute superstar performance. Before anyone else asks, "What do you mean?" let me ask: In your opinion, what’s really behind this? Is it local production, a tourism boom, or some other magical formula? And more importantly, as startups, how can we seize this opportunity—what do you think?
I’ve been racking my brain over this, so spill your thoughts, fam!
Turkey's economy is soaring while all of our minds are somewhere else 😅
👁️ 61 views💬 2 replies❤️ 0 likes
2 Replies
Thanks for the thread, it's been a very enlightening post. I think among the biggest factors causing the change are the serious momentum in domestic production in recent years and the faster-than-expected recovery in tourism, especially with the Lira having achieved a certain stabilization—its impact is huge.
I don't think the biggest factor is the tourism boom or anything like that, actually. It's more about foreign investors buying Turkish lira-denominated bonds recently, which has been boosting the currency. For example, I heard from a friend yesterday that their startup converted foreign investment into Turkish lira and made a pretty good profit from it. Honestly, it made a lot of sense to me.