Financial Centers:

Financing Innovation and Growth

Istanbul Finance Summit| 15 September 2014 | Hubertus Väth

2

Turkey:

Strengths In-Line with Economies in Transition

Blue: Turkey

Black: Peer Group

3

Turkey Takes Profit from Demographic Dividend

Germany

4

Education: PISA-Results Improve Steadily

More than

1,5 school years deficit

Less than 1school

year deficit

20

08

20

09

20

10

5

Highly Competitive Labour Costs

25,79

23,14

17,23

8,64

6,54

4,42

3,88

3,18

2,96

2,71

2,13

1,26

0 5 10 15 20 25 30

Germany

Italy

Spain

Portugal

Hong Kong

Hungary

Turkey

Russia

Romania

Mexico

China

Philippines Euros per hour

6

But: Cost-Advantage is Declining

Productivity

Unit Labour Costs

2005 2013

7

Inflation and Interest Rates Remain High

FT, 28 August 2014

8

FDI under Pressure

9

Ambitious Goals in Development

10

Ambitious Infrastructure Projects

1. Bosphorus Tunnel

2. Istanbul International Airport

3. Channel Istanbul

1 2

3

11

Istanbul International Financial Centre (IIFC)

12

Learn from the Best – Frankfurt Financial Centre

13

Financial Center Istanbul has a

Good Rapport with Frankfurt

14

Frankfurt Welcomes You