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News 31

Turkey: Expanding in retail

As Turkey wraps up the 2012 Istanbul Shopping Fest, all eyes are on the country's retail sector, which has earned the distinction of being the nation's largest employer. While the festival was, at least in part, designed to draw in foreign visitors, the domestic market has seen plenty of growth as well, especially in rapidly developing segments like e-commerce.

According to a recent report issued by the Economic Policy Research Foundation of Turkey (TEPAV), retail is the sector with the highest level of employment in the country. With around 1.7m workers as of January 2012, the sector provides more jobs than the construction and transportation industries, which had 869,000 workers and 563,000 workers, respectively. Among retail employees, 422,000 worked in the clothing segment, 394,000 in textiles and 379,000 in food production.

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