Business Services

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Turkey has significant experience in a wide range of business service lines such as engineering services and contracting, testing and technical analysis, call centers, auditing and accounting, law advisory services, as well as consulting and financial services.

Global data between January 2003 and September 2013 for capital investments indicate that business services had the second largest share with 16.4 percent, just behind software and IT services. The number of projects, which include expansions and colocation investments, increased with a CAGR of 7 percent, reaching 879 in 2013, while the highest number of projects for business services was seen in 2012 with 1,679.

According to the Ministry ofthe Economy, the Turkish engineering and contracting services sector has worked on approximately 7,000 projects in 100 countries, totaling more than USD 242 billion since 1972.

The testing and technical analysis sector recorded an uptrend in its turnover and grew with a positive CAGR of 21 percent between 2005 and 2011. The technical testing and analysis sector is expected to continue its growth and reach USD 897 million, in parallel with the projected growth in related industries such as manufacturing and chemicals.

Call centers in Turkey have been developing significantly in the last couple of years, reaching a market value of USD 1.4 billion in 2013. The call center sector has the potential of having a workforce of 350,000 in 2023, compared to 70,200 in 2013.

Turkey’s auditing and accounting sector posted a total turnover of USD 3.3 billion in 2012 and grew at a CAGR of 15 percent between 2005 and 2012. As new regulations come into force and Turkey aspires to have compatible standards with the EU, the auditing and accounting sector will continue to grow.

Meanwhile, legal advisory services, consulting and financial services also play a crucial role in Turkey’s economy. Turkey’s vibrant economy and improved business environment have resulted in the growth of consulting services in Turkey. Major global companies in both sectors have now their offices in Turkey. According to Euromonitor International, legal advisory services turnover will reach USD 3 billion by 2017, whereas consulting will reach USD 19 billion, by virtue of Turkey’s vibrant business environment.

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