January 6, 2023
In 2023, businesses in the service, real estate, and export-oriented industries will pay particular attention to finances and expenses.
Energy security concerns, supply-related challenges, and the EU’s carbon price will be high on the agenda for Turkish businesses in the coming year.
However, access to funding and energy costs are the fundamental issues facing the majority of enterprises.
According to Adil Pelister, the head of the Istanbul Chemicals and Chemical Products’ Exporters Association (KMB), the impending economic crisis and energy issues in the EU represent a serious danger because the region is the largest export market.
The outlook for the local and international markets is probably bleak in the first half of the year, but it might improve for the industry in the second, according to Pelister.
According to Müberra Eresin, the leader of the Hoteliers’ Association (TÜROB), the tourism industry has high hopes and expectations for 2023.
“If the current state of affairs continues, 2023 will be a successful year for tourism. The hospitality industry, which is battling with the high cost of energy, is the key issue, she continued.
This year, Turkey anticipates receiving 60 million visitors and earning $56 billion from tourism.
According to Ali Haydar Bozkurt, the president of the Automobile Distributors’ and Mobility Association, the automotive industry would likely still experience issues with car availability in 2023. (ODMD). “With the energy crisis and inflation, 2023 [for the automobile sector] will be more like 2022,” said Bozkurt.
Eref Fayat from the Union of Chambers and Commodity Exchanges of Türkiye’s assembly for the clothing and ready-wear industry predicted that the apparel industry’s exports would decline by 15 to 20 percent in the first quarter of 2023. (TOBB).
The contraction in demand, inflation, and our inability to quote prices owing to foreign exchange rates are the primary causes of the anticipated reduction in sales to overseas markets, he said. As a result, orders are lost.
Source: Hürriyet Daily News
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