Ethnoeconomy of Europe: Turkish Segment

Abstract

The article examines the ethnic factor of the European economy. The migration of the Turks to Europe in the 1960s, formed a special segment of entrepreneurship in the region. A significant part of it was occupied by the representatives of the Turkish diaspora. Several factors including the social one contribute to the active development of the Turkish ethno-business in the European space. In addition, the formation and prosperity of the Turkish ethnic entrepreneurship in Europe is influenced by the high development of family and clan relations as well as the presence of various kinds of auxiliary mechanisms in the form of trade unions and business associations. In the context of small and medium-sized businesses, the key attention is paid to the development of the Turkish fast food industry related to the organization of food outlets, the hotel business, the provision of general services as well as tourism and logistics services. Large network business and transnational corporations of Turkey in most cases are engaged in such areas as: restaurant business; hotel business, including the construction of hotels; distribution of retail chains and Turkish brands. Islamic banking has also become a relatively new rapidly developing area of the Turkish ethnobusiness. The author concludes that the Turkish migration has significantly changed the nature of the European business. However, despite the wide representation of Turkish entrepreneurs in Europe, not all of them achieve the desired success and often face various kinds of discriminatory policies of the European authorities that restrict their activities.