Locations

Turkey

Turkey

Location Type
Parent Location

Turkey, officially known as the Republic of Turkey, is a transcontinental Eurasian country with a population of over 81 million people. The country is packed with cultural heritage, having 13 spots inscribed on UNESCO’s list of World Heritage Sites, and a growing film industry. Turkey also has Istanbul’s Grand Bazaar – the world’s oldest and largest shopping malls in existence, with 64 streets and 4,000 shops, welcoming approximately 400,000 visitors a day. Responsible for 75% of the world’s hazelnut exports, the country is the 10th biggest crop producer in the world, placing 19th in the top 20 economies of the world. Turkey is the 6th most visited tourist destination in the world, and a charter member of the UN, an early member of NATO, the IMF, and the World Bank, and a founding member of the OECD, OSCE, BSEC, OIC, and G20.

  • Although 95% of it's land technically falls in Asia, Turkey has strong ties to Europe
  • Has gained a reputation for sovereign defaults
    • At least 8 defaults since 1876, most recently in 1982
    • Additional periods of sovereign debt bear markets and near defaults