Turkiye as a regional hub

Abstract

Purpose- This study examines Türkiye's strategic importance and potential to serve as a pivotal regional hub for businesses. The study also investigates the various fields of businesses for being a potential hub. A review of common concerns that needs further developments are analysed. Methodology- The study utilizes an analytical literature survey and investigates the various business fields for becoming a regional hub. Findings- Turkiye is the 7th largest economy by GDP in Europe by IMF among 22 countries for the year 2022. Turkiye is ranked as the 1st in ease of setting and welcoming categories at Expat Explorer Index, and 7th in the world in the year 2019. More, Turkish international airports serve for 342 direct flights for 128 countries with Turkish Airlines and proximity to these markets with a total GDP of 46 trillion USD within 4 hours flight. Conclusion- Turkiye's unique geographical position bridges Europe and Asia providing a natural gateway between the East and the West. Proximity to major markets enhances its appeal as a strategic center for trade and commerce. Ongoing investments in infrastructure, including transportation networks and logistics facilities, are positioning Türkiye as a key hub for the efficient movement of goods and services. Modern ports, airports, and road networks facilitate seamless connectivity within the region. Türkiye's growing economy attracts foreign investments, fostering the development of financial services and encouraging multinational companies to establish regional headquarters Keywords: Regional hub, Istanbul Finance Center, strategic location, logistics hub, service hub. JEL Codes: F10, F18, M20