Turkey's retail sector expected to create 135,000 new jobs

Turkey's organised retail sector is promising some 135,000 new jobs until 2012, says a report.

Turkey's retail sector expected to create 135,000 new jobs

 

Turkey's organised retail sector is promising $5 billions of investment and some 135,000 new jobs until 2012, says a report jointly drawn by PricewaterhouseCoopers (PwC) Turkey, and Turkey's Shopping Malls and Retailers Association (AMPD).

The report titled "Glimmering Star- Impact of Retail Sector on Turkish Economy" which was made public Friday at a press conference, gives good news about Turkish Economy, as the retail sales reached 317 billion TL in 2009, marking a significant rise from 23 billion TL in 2009 and is expected to rise to 448 Billion TL by 2013 (1 USD is sold at 1.4980 TL).

Each shopping mall is believed to create 1500 jobs in average, and based on this rate, the sector is expected to create 135,000 new jobs until the end of next year, and the total employment in this sector to reach 650,000.

AMPD's Chairman Mehmet Nane regards the organised retail sector as the barometer of the Turkish economy, and says 50 more shopping malls will be opened in 2011 and some $5 billion USD of new investments be made in 2011.

Nane says the retail sector in Turkey is a young and rapidly growing sector, which is evidenced by total sales and turnovers. He points out that employment figures show that the sector together with construction sector makes the greatest contribution to employment.

He says a new shopping mall means somewhere between 1,500 to 4,500 new jobs.

Head of PwC's department for Turkey's Retail and Consumer Products Sector Adnan Akan belives, retail sector will be one of the sectors that makes the greatest contribution to Turkey's economic growth. He says the economic and social impact of this will increase and become more evident in the years to come and the sector will continue to be a center of attraction for foreign direct investments (FDI).

While the overall FDI in Turkey declined 14 percent in 2009, the report revealed the FDI in the organised retail sector rose 14%.

The number of shopping malls in Turkey is expected to reach 304 by 2011 with the completion of the construction of 68 new malls, bringing the total area for rent to 8 million square meters.
 

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Last Mod: 17 Eylül 2010, 17:42
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