Turkey economic leaders discuss growth, defense, and tourism

At the 27th TÜRKONFED Business Summit in Elazığ, Turkish officials and business leaders discussed economic growth, defense, and tourism. Vice President Cevdet Yılmaz outlined economic targets, projecting a 5% growth rate by 2029 and aiming to reduce unemployment to 7.6% while creating 2.1 million new jobs. He also characterized developments in the defense industry as a “revolution,” noting that exports exceeded $10 billion last year.

Koç Holding Chairman Ömer Koç addressed the shifting global order, criticizing the lack of moral credibility in Western support for Israel and noting the erosion of international rules. He emphasized the need for economic resilience through technology and legal predictability. Additionally, TÜSİAD President Ozan Diren warned of a decline in cost-based competitiveness across various sectors over the last five years.

In the tourism sector, TTYD President Oya Narin reported that Turkey became the fourth fastest-growing destination in the OECD between 2019 and 2025. For the first half of 2026, the country welcomed 25.7 million visitors, generating $25.7 billion in revenue, with Russia, Germany, and the UK serving as the primary source markets.