Turkey’s geographic location and increasing foreign investment is pushing the Courier, Express, and Parcel Market to surge, with outstanding growth in the previous years. Read below to understand more about this lucrative market.
Over the past few years, Turkey has separated itself from other European countries in the CEP (courier, express, and parcel) market. The recent double-digit growth rate in 2022 has given experts optimism for the near future, solidifying Turkey as a prime investment choice for those looking to take advantage. Along with the country's recent success in CEP growth rate, there are a few other factors that separate Turkey from other countries in the CEP market. Turkey's prime geographical location, as well as foreign investments, prove that it is a powerhouse in the CEP field, making its growth well worth the note for potential investors. Turkey's prime geographical location puts the CEP market in the perfect position to succeed for both the near and long term future of the market. Turkey lays perfectly between the European and Asian markets, giving way to great opportunity to take advantage of international trade between the two massive markets. On top of this, its mere proximity to the Middle East and Europe make it a great place for companies to grow their businesses, with reduced shipping times being a major advantage. Turkey's attractive local market also gives reason for excitement, with an impressive 91.3% of the country's e-commerce revenue coming domestically. On top of this, the e-commerce market within the country has had massive growth in recent years. The market had an estimated growth rate of around 109% in 2022, representing a value of 800.7 billion TL. This is a massive difference from the 381.5 billion from 2021, proving that Turkey is on the rise and will continue to rise in the near future. The pure geographical location for world trade coupled with these booming local markets express enthusiasm for a booming CEP market for good, making it a force compared to local competitive countries in the market. Not only does Turkey have a great geographical location to prove reason for optimism in CEP market growth, but it fosters the numbers in recent years to back it up. The recently released Turkey CEP Market Report demonstrates strong growth volume in contrast to other countries in the region. In 2022, Turkey will host a flourishing growth rate of over 20%. In comparison, markets as a whole in North America and Europe grew at a rate of -1.5% and -2.5% each. This drastic difference in comparison to these two markets provides great evidence as to the outstanding growth that Turkey has had in the past year. With both markets having a stagnation trend, Turkey was still able to grow dramatically, proving it to be a powerhouse in the field. A massive 20% increase in these circumstances is even more impressive knowing the negative trend the market in Europe and North America had as a whole, solidifying itself as a top spot for CEP growth. Turkey's foreign investments from top companies represent optimism from the best minds all around the world, further establishing itself from other competitors in the market. Companies such as GeoPost, UPS, FedEx, Alibaba, Amazon and Koc group have all invested heavily in the Turkish market, showing confidence in the future growth of the CEP market in the country. Companies such as FedEx, TNT, and UPS have all been using Turkey as a hub for international travel through the air, exhibiting the upside that Turkey has through pure geographical location for companies use in international trade. FedEx/TNT in particular are very invested in this use as a hub for flight, investing heavily in a new global air transit facility at Istanbul Airport, representing the upside to using Turkeys strengths to companies advantage for profits in the CEP field. With companies from around the world all showing interest and action in utilizing Turkey for growth in CEP markets for their specific company, it is obvious that Turkey is one of the top hubs for the CEP market. These investments show a vote of confidence from these great companies, serving as a positive indication that the CEP market in Turkey has great stability and market potential. Turkey’s unparalleled growth in the CEP market makes it a phenomenal choice for investments for companies looking to make a profit. With the perfect geographical location to foster economic growth, Turkey has quickly turned into a top hub for the CEP market. Its phenomenal growth rate in 2022 provides evidence to this, as well as recent investments from top companies from all around the world. This evidence provides everything needed to prove Turkey to be a top option, making it a necessity to take advantage as soon as possible before it is too late. Turkey is only going to continue to grow, with big numbers coming for years to come. (Photo: iStock)
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