Türkiye attracts significant USD8.5 billion in FDI from January to October 2024
(MENAFN) Türkiye attracted a significant USD8.5 billion in foreign direct investments (FDI) from January to October 2024, according to a report by the International Investors Association (YASED) released on Thursday. The FDI inflows for October alone amounted to USD770 million, reflecting the continued interest in Türkiye as an investment destination. While there was a slight 1 percent decline in FDI compared to the same period in 2023, the country’s total FDI inflows since 2002 have now exceeded USD272 billion, underscoring its ongoing appeal to foreign investors.
The report highlighted a shift in the geographic composition of FDI flows, with European Union countries accounting for 49 percent of the FDI in October, down from 58 percent in the 2002-2023 period. Despite this decline, European countries remain key investors in Türkiye, with Germany being the largest contributor in October, holding a 23 percent share of FDI. Other significant investors include the Netherlands with 16 percent, the UK with 15 percent, and the US, also with 15 percent, marking a diverse set of international investors contributing to Türkiye’s growth.
Over the January to October period, the Netherlands was the top investor, contributing USD885 million, followed by Germany with USD598 million, and the United States with USD524 million. These three countries alone were responsible for a substantial portion of Türkiye’s FDI inflows during the year. This trend reflects the strong economic ties between Türkiye and these major global economies, particularly in sectors such as technology, infrastructure, and manufacturing.
Despite the minor decrease in FDI compared to last year, Türkiye continues to be an attractive investment hub, benefiting from its strategic location, large market, and growing sectors. The country’s resilience in attracting foreign investments, even amid global challenges, is a testament to its economic stability and the favorable conditions it offers to international investors. With a solid foundation and promising outlook, Türkiye is expected to maintain its status as a leading destination for foreign investment in the coming years.
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