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The strategic location and being the bridge between Asia and Europe make Turkey the epicenter of transportation and storage companies. Regardless of the fact that the Turkish logistic sector is young; it is expanding at the speed of light, equivalent to the country’s remarkable economic growth.
Turkey is making its presence felt with a strong foothold in global transportation and storage business and holds the 30th rank on the World Bank’s Logistic Performance Index. It is clear that in the long term, Turkey is going to exploit its fortuitous location by positioning itself as the hub of logistics.
Why Should You Consider Opening A Transportation and Storage Company in Turkey?
The reason is simple: The logistics industry is growing in parallel with the GDP over the years. The sector was worth around $44 billion in 2013, but, as mentioned above, growing identically with GDP, which stands around 4%.
According to the Investment Support and Promotion Agency of Turkey (ISPAT), the transportation sector contributed roughly 10-15% of the total GDP. If we calculate, the current GDP of Turkey is $798.4 billion, meaning the market valuation of Turkey’s logistic industry is close to $80 billion.
It is estimated to grow exponentially to $150 to $200 billion by 2023. Now, this financial growth may attract you to go to Turkey and open a Transportation firm.
How to Establish A Logistic Company in Turkey?
The best option for opening a transportation and storage company is the Turkish limited liability company because these are the medium-sized business and need an appropriate entity. After registering the company, the entrepreneur must prepare the fleet through which the merchandise will be transported.
If you are planning to open a transportation company in Turkey, than you need to purchase trucks and get them registered with the Land Transportation Authority. If you are considering the possibility of transporting goods by land then the formalities are simple for cargo companies.
Serious government backing, space for international and local investment opportunities, expanding market, and an amazing location to become the next transport hub makes Turkey on every business’s radar and reap the lucrative rewards of the logistic business.