Turkish Industry Embracing The Digital Economy

Online is the future with regards to doing business and the industry seems to embrace such change and innovation with open arms. This is quite apparent as a huge number of companies have geared up and integrated their services over the internet. The digital economy has indeed been thriving growing in immense popularity over the past few years. Countries such as Turkey are slowly embracing the digital economy as well and this can be seen with a number of their business practices which is done on a regular basis.

Positive news such as, Turkey’s online retail market to double by 2020 is always a welcomed highlight with regards to the country’s digital economy. Turkey’s online retail market is expected to double to 14 billion Turkish Liras ($5.2 billion) by 2020 from 7 billion liras ($2.6 billion) in 2015. As such, investors can expect more out of Turkish industry in the field of digital economy. The reason why the practice has been popularized over the past few years is that many believe that innovation key for Turkish economy to grow. Doğan Holding Chair Begümhan Doğan Faralyalı said at the Uludağ Economy Summit said that innovation and adapting to the digital world is the key for the growth of the Turkish economy in the coming years

Another factor which helps boosted the growth of digital economy is with Turks looking to mobile technology to change bazaar cash customs. There is no denying how popular mobile technology has become and in fact,in Galatasaray’s new home ground, the TT Arena, football fans can use “digital” rather than hard cash to pay for their kofte ekmek (meatball rolls) at half time. Young Turks are embracing technology that could consign banknotes and tense verbal exchanges to the dustbin of history.

For companies and business owners to be relevant in this present day and age, they need to embrace digital economy as well. With that being said, this is easier said than done as they will require all the help that they can get in order to use digital economy to its full potential. Sharepoint consultants are able to provide their clients with the much needed help and assistance in this ever changing world.

Another area can be found through digital payments Digital payments could help billions of people without access to banks and services such as Kenya’s M-Pesa mobile money, prepaid debit cards for Syrian refugees in Turkey, and electronic bank transfers are helping people save money securely in formal banks, said Ruth Goodwin-Groen, managing director of the Better Than Cash Alliance. This is the reason why G20 leaders say inclusive business is key tool in achieving sustainable development. To help bridge the digital divide which is an important goal of the SDGs, Turkey’s leading internet service provider, is providing access to 30,000 households with access to an online platform which provides educational content targeted at primary and secondary-school children in remote areas of the country.

Digital economy is indeed the future which we are seeing today in our very own eyes and more and more individuals are leaning towards such service. It is good to hear that countries such as Turkey are keeping up to date with the latest innovation and trend found in the industry which greatly helps their economy to push forward.