The development of Turkey's IT market was hit by the adverse macroeconomic conditions in 2018-2019 that reducedthe affordability of imported hardware and packaged software, as well as being a source of uncertainty that lowered businesssentiment. In 2020, Turkey's economy is expected to shrink due to Covid-19, with negative repercussions on business investmentand confidence, although there will be areas of stronger performance such as cloud computing adoption. Our forecast envisagesthe lira will remain vulnerable, affecting spending growth in 2020-2024, but not to the extent of the crisis in previous years. Thegovernment's 2019-2023 strategic plan will support the development of the IT sector and possibly increase foreign investments intech and IT. Yet, considerable downside risks will persist, including economic vulnerability to global headwinds, domestic politicaltensions and regional security issues.
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