Foreign Direct Investment pestel analysis of Turkey

Unemployment Level in Turkey (in %)

Technological factors affecting Turkey

• The Turkish technology market is rapidly growing and going beyond the confines of cities to reach out to rural areas. Heavy government investment in the sector has been a major factor in the acceleration of progress. Turkish people are increasingly becoming technologically advanced and their demands for tech products are on a rapid rise as well. The use of e-commerce, fixed broadband, mobile broadband, PC, software and mobile banking services have increased manifolds over the years and created massive business opportunities for entrepreneurs (ITA, 2019).
• Turkey has a vision of becoming one of the top 10 technologically advanced countries in the world by 2023. It also aims to make 80 percent of the population computer literate. However, establishing an infrastructure that is capable to meet the current demands and future potential developments is a challenge. Therefore, substantial progress must be made sooner than later, and both private companies and public institutions need to a have a clear digital strategy.