Turkey’s 2023 Vision
Turkish government put on an ambitious challenge setting several impressive targets aiming to enhance many sectors such as energy, trade, foreign policy, health care, transport, and tourism. This plan is known as “Turkey’s 2023 Vision”. It is based on several goals that contribute all to a main constitutional purpose which is being one of the top 10 performing economies in the world by accomplishing the following basic points:
- Achieve single digit interest and inflation rates
- Attain a GDP of $ 25,000 per capita
- Export $ 500 billion of goods per year
- Reduce the unemployment rate to 5%
- Have a working population of 30,000
Achieving all these goals demands efficient improvements in different sectors.
Turkey has dedicated much time and energy in this sector by setting a privatization plan giving investors many incentives encouraging them to invest in the energy sector willing to achieve the following objectives:
- Increase renewable energy to 30%
- Boost hydropower use
- Produce 20,000 MW of wind power, 1000 MW of geothermal energy and 5000 MW of solar energy
- Establish an energy stock exchange
This is one of the most rewarding sectors in Turkey’s economy. Despite some slowdowns in 2015 and 2016, the nation has had so far successful seasons since 2017.
This is a reason why the 2023 vision is based strongly on tourism aiming to host 50 million tourists and to generate $50 billion in revenue per year. The government tends also to rise bed capacity to 1.5 million and to build 40 new Marinas.
Finance and trade:
2023 vision has the ambition of making Istanbul a global finance center competing with America’s Wall Street. It includes setting about 1000 Turkish companies trading in Istanbul Stock Exchange and increasing exporters. It also aims to diversify markets and products and have at least 10 internationally trading Turkish brands. A new Istanbul Finance Center in Ataşehir is rising to achieve the country's vision.
Turkey’s 2023 vision devotes great importance to the transportation network to make it easier and faster to get around the city of 16 million. It includes airports that the most prominent is the new Istanbul airport one of the biggest in the world. It also includes enhancing the railway lines by increasing them to 25000 Km. It also aims to extend highways to 7500 Km a highspeed railways tracks to 10000 Km.
The transportation project involves also the achievement of mega projects such as the Istanbul channel, three-level Istanbul tunnel, and the Dardanelles bridge planned to be the longest suspension bridge in the world. Out of the three mentioned, only the Canal Istanbul mega project is left to complete.
With the conviction that a good education is the base of every successful nation, Turkey’s 2023 vision aims also to enhance education level by establishing 200 universities and achieving a 100% literacy rate for under 50s.
To make Turkey’s 2023 vision a reality, the Turkish government has been reaching many countries for international cooperation to help them achieve their set targets. Turkey has witnessed renewed alliances and business deals set with the Saudis and the Africans in addition to new-established friendships most prominently the Chinese who started strongly investing in Turkey recently especially in the Real estate sector.
Turkish Real Estate Market has been very active and efficient in the last 5 years. Residential sales recorded 6.6 million units with 137,869 of them sold to foreigners in the period between September 2014 and September 2019. It’s considered as one of the bases of Turkey’s 2023 vision.
While many residential projects with high standards are being built and many areas are being rehabilitated, the Turkish government has been setting new laws encouraging foreign investments in Real Estate markets such as the reduction of Real Estate worth to be eligible to Turkish Citizenship from $1 million to $250,000.
A dream or an achievable ambition?
Many experts think that this vision is too ambitious to be realistic while others think that it’s a legitimate ambition after the progress that Turkey has witnessed since 2010.
After an observation of Turkey’s status so far, some facts predict a brighter future for the country which leads us to understand that even if the vision won’t be completely accomplished by the set deadline, a lot of goals would be achieved by 2023 to be completely realized with a delay of a couple of years.
The poverty rate is officially reduced to be under 5%. When it comes to education, high rates of school attendance were achieved with 99% in primary schools and 80% in secondary schools.
The health care sector was enhanced too as universal healthcare has been created and many hospitals have been modernized. The number of doctors for 100,000 people increased from 176 in 2013 to 181 in 2015 with a target of 200 in 2023.
When it comes to Transportation consisting of a major asset, some planned projects have been realized in time such as Tunnels under Bosporus in addition to spectacular bridges over Gebze and Çanakkale, and Bosporus.
2000 km out pf 5000 Km of high-speed lines have been constructed.
As we mentioned above, Turkey is making huge efforts to make the dream of 2023 vision come true. Although the goals set are very high and ambitious, Turkey is likely to become a modern European country in just one decade.