INFRASTRUCTURE

INFRASTRUCTURE

Turkey has undergone a profound economic transformation over the last decade and its economic fundamentals are quite solid. It is the 17th largest economy in the world and the 6th largest economy in Europe.

Turkey’s emerging economy presents a need for infrastructure investments in various industries. The main industries include, but are not limited to, construction, residential and non-residential buildings, transportation and energy.

Regarding the infrastructure sector, the government allocated USD 26 billion in 2013. 30 percent of this budget is for the transportation sector, followed by education, energy, healthcare, and agriculture.

New plans and targets also continue for urban renewal projects. Since the enactment of the Urban Transformation Law No. 6306, the Turkish government has decided to retrofit and renovate buildings that are prone to destruction during natural disasters, which includes 6.5 million residences, with a budget of USD 400 billion.

Total investments: $6,918 million

Overall rank: 9 (28 countries spending most on road infrastructure)

Turkey, one of the fastest growing economies in the world, is investing a lot of money into infrastructure as its economy witnesses a boom.

Image: A view of Istanbul's financial district, Turkey.
Photographs: Murad Sezer/Reuters