The World Bank classifies Türkiye as an upper-middle-income country in terms of the country’s per capita GDP (€8,094 in April 2022).
Türkiye is a founding member of the Organisation for Economic Co-operation and Development (OECD) and the G-20 major economies (1999). Its nominal GDP peaked at €958 billion in 2013, ranking 16th in the world in that year, while its nominal GDP per capita peaked at €12,505 in 2013, ranking 64th.
But each new market brings new challenges. These can be worked through efficiently and cost-effectively with the support of an international Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework. This can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.