Sweden’s brand image tends to be strong in most markets where Swedish companies choose to do business. In Turkey, as many as 86% of Swedish companies report that “Made in Sweden” provides a competitive advantage – as shown in our recent Business Climate Survey.
Turkey’s economy was on a positive trajectory prior to the outbreak of Covid-19. Between 2015 and 2017, the GDP growth rate was higher than the global average. Turkey’s strategic geographical location between Europe and Asia makes it a major trading hub and the domestic market with 80 million inhabitants offers plenty of opportunities.
Despite recent challenges such as fluctuations in the Turkish Lira and political uncertainty, 64% of Swedish companies operating in Turkey reported profitability in 2019. However, the pandemic has taken a heavy toll.
Around 52% of Swedish companies believe that their turnover will decrease over the next 12 months and no more than 19% of our survey respondents feel confident enough to proceed with current investment plans. At the same time, our data shows that Swedish companies are well established and 28% have had a business presence in Turkey for more than 20 years and built a solid partner network. More than 125 Swedish companies are now operating in Turkey in a wide range of industries.
This Business Climate Survey reflects the current mood and forward-looking issues and was carried out on 13 March-11 April 2020. 66.7% of the respondents were large companies with more than 1,000 employees worldwide and 43% are active in the industrial sector.
Download the report and get a full overview of the survey results.
ABOUT THE SURVEY
The Business Climate Survey is produced on a bi-annual basis by Team Sweden, a joint initiative where Business Sweden collaborates with Sweden’s local embassies, consulates and chambers of commerce around the world, among other stakeholders.
The survey provides first-hand perspectives and insights into business trends, issues and challenges on global markets based on extensive interviews with Swedish companies operating in each respective country.