With the advent of the internet, it has been possible to access information from anywhere at any time. Turkey, a developing and active hub, is gradually becoming one of the most important places for sourcing. It is conveniently positioned and benefits from the presence of a variety of manufacturers in the area. Owing to its natural ports, the country has always been well-positioned for conducting business. It’s status as an economic hub is providing first-world investors with more viable and affordable investment options. Thus, Turkey sourcing is getting more popular as more companies choose to source from here.
Why has Turkey become a sourcing landscape?
Turkey is right on the edge of Europe, and its industrial sector is big and well-established. This is significant and offers a different option for UK/EU enterprises to supplement current Asian supply chains. For certain businesses, the capacity to balance shipping timings and any capacity limitations will present strategic options. Some of the primary advantages of sourcing from Turkey include the following:
Convenient location – Turkey, which connects Asia and Europe, has a very suitable location that serves as an advantage for many sourcing companies. This implies that shipping from Asia to Europe and the UK only takes a few days as opposed to the majority of the time, which is close to a month. It also has the capability of shipping to the Americas over the Atlantic. Moreover, Turkey offers access to nearby markets in Eastern Europe.
Cost benefits – Cost will undoubtedly always be significant. In addition, considering the low cost of labor, the abundance of raw materials, and the excellent infrastructure across the nation, FOB prices from Turkey are indeed competitive. With the reduced transportation costs and tariff advantages, the landing cost will be the key price to consider. Manufacturing clusters may be found all across the nation, and they profit from the size of each industry.
Wide base of manufacturing – The Turkish economy is mostly dependent on producing a variety of items, including textiles, furniture, white goods, industrial products, plastics, everyday consumer goods, and the market for vehicle accessories. Turkey’s sourcing benefits from having resources for producing raw materials on-site, which enables it to produce goods without entirely relying on raw material imports.
Skilled labor – In the past, as opposed to more developed economies, low-cost nations have traditionally relied on cheap manufacturing worker labor. But things are different now. Industrial employees must be competent and effective at their jobs. This certainly holds true for Turkey, where the manufacturing industry and exports in general benefit from a skilled labor pool that is priced competitively.
The aforementioned details emphasize Turkey’s importance as a vital global sourcing market. Several first-world nations have undoubtedly benefited from sourcing companies that have access to a variety of Turkish manufacturers in a marketplace that significantly profits from a “boots on the ground” strategy. Hence, sourcing firms are able to provide positive results for their customers through Turkish opportunities.
