Analysis 22 Aug 17

Turkish Crisis Fuels Investment Surge in Balkans

The political crisis in Turkey is motivating many Turkish companies to shift their business operations to the nearby Balkan states.

Akin Nazli
BIRN
Belgrade
Supporters of Turkish President Recep Tayyip Erdogan at  rally in Turkey. Photo: Lefteris Pitarakis/AP

Turkey’s political crisis, which deteriorated dramatically after the failed military coup in July last year, has devastated the economy and damaged investment opportunities in the domestic market.

This, paired with legislation encouraging investments abroad, has motivated some prominent Turkish companies to shift some or most of their business operations to the Balkan region, Turkish economic experts told BIRN.

“Political developments in Turkey have had a certain impact on the interest of Turkish firms in the Balkans,” Sait Aksit, a professor of international relations at Near East University in Northern Cyprus, told BIRN.

Aksit added that Turkey’s slide into authoritarianism, “which has not lost pace since the failed coup attempt last July,” had also created major tensions between Turkey and EU, which has also had a major negative impact on Turkish companies.

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