Istanbul Finance Summit - Financial Centers: Financing Innovation and Growth

1. Financial Centers:
Financing Innovation and Growth
Istanbul Finance Summit| 15 September 2014 | Hubertus Väth

2. Turkey:
Strengths In-Line with Economies in Transition
2
Blue: Turkey
Black: Peer Group

3. Turkey Takes Profit from Demographic Dividend
3
Germany

4. Education: PISA-Results Improve Steadily
4
More than
1,5 school years deficit
Less than 1school
year deficit
2008
2009
2010

5. Highly Competitive Labour Costs
Philippines Euros per hour
5
23,14
25,79
17,23
2,96
3,18
3,88
6,54
8,64
4,42
1,26
2,13
2,71
0 5 10 15 20 25 30
China
Mexico
Romania
Russia
Turkey
Hungary
Hong Kong
Portugal
Spain
Italy
Germany

6. But: Cost-Advantage is Declining
6
Productivity
Unit Labour Costs
2005 2013

7. Inflation and Interest Rates Remain High
7
FT, 28 August 2014

8. 8
FDI under Pressure

9. Ambitious Goals in Development
9

10. Ambitious Infrastructure Projects
1 2
10
1. Bosphorus Tunnel
2. Istanbul International Airport
3. Channel Istanbul
3

11. Istanbul International Financial Centre (IIFC)
11

12. Learn from the Best – Frankfurt Financial Centre
12

13. Financial Center Istanbul has a
Good Rapport with Frankfurt
13

14. 14
Frankfurt Welcomes You