E-Commerce Opportunities and Challenges in Turkey

E-Commerce Opportunities and Challenges in Turkey

Nuray Terzi (Marmara University, Turkey)
DOI: 10.4018/978-1-4666-9787-4.ch086
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Background

Turkey is also the 6th largest economy in the EU, in less than a decade per capita income in the country has nearly tripled and now exceeds $10.000. Although economic growth was slowed by the onset of the global economic crisis in 2008, Turkey continues to be competitive market in the region. Labor markets have also recovered fast after the crisis and employment rates have also improved on the pre-crisis levels.

Turkey has made considerable advances in competitiveness over the past decade, moving ahead 21 spots to number 45 in Global Competitiveness Index for 2014/2015. Additionally, foreign direct investment has grown from just over $8.5 billion to an average of $ 13 billion in the past five years.

Furthermore, fundamental reforms carried out after 2001 have allowed Turkey’s financial sector to remain relatively strong in spite of the global economic crisis. Turkey initiated comprehensive structural reforms in the aftermath of the crisis which would sustain macroeconomic stability, improve economy’s resiliency, productiveness and efficiency. These reforms strengthened macroeconomic development. Especially, the soundness of the financial sector provided a buffer against external shocks.

Key Terms in this Chapter

Automatic Payment System: Automatic payment system is money transfer system to pay the bill.

Social media: Social media is a community who use internet-based technologies.

Digital Law: Digital law is identified as the responsibility of being safe online and following online rules. It is basically know as the law of internet.

Digital Literacy: Digital literacy is an ability to use digital technology such as smartphones, tablets and laptops.

Incubation Centers: Incubation centers help entrepreneurs realize their ideas. Their objective of incubations is to produce successful companies with the potential to create jobs, commercialize new technologies, and strengthen economies.

Angel Investor: Angel investor is a wealthy individual who provides capital for a business.

Online Infrastructure: Online infrastructure is the physical hardware used to interconnect computers and users.

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