Number of dollar millionaires in Turkey estimated to go up by 20,000
Turkey is known to be one of the fastest developing countries in the world as would be verified by the increase in GDP to USD 10,000 from 3,000 in a very short period of maximum 6-seven years.
The economic – and political – stability in the country for the 7-8 years has been one of the major factors to bring such a positive result.
Looking at many economic indicators, the government although slammed for many projects has proved to be successful in this respect.
Other findings such as inserted below are to support this data.
For instance, total number of dollar millionaires is expected to exceed 45,000 by 2014.
Results in the analysis prepared by ING bank – based on the data in the Datamonitor and IMF-World bank reports – were disclosed in a press release delivered by ING Bank executives in charge of Marketing for Private Banking and Consumer Banking.
Based on said analysis, while the number of people in Turkey with cash assets over US$ 75,000 (referred to as top income group) was 652,000 last year (2010), this figure is expected to go up to 739,000 by the end of 2011 and the total cash assets generated by the group is expected to increase to US$ 220,1 billion from 193,4.
Obviously Turkey has covered long distance as compared to a couple of decades ago, meaning it could be well worth for foreign entrepreneurs to consider many business opportunities in this fast developing country.
Editor
BUSINESS TURKEY TODAY
