Why Istanbul?

Some of you may have noticed that we are really ramping up our alliance between Stinson Brand Innovation and Rekmar, a health care agency and brand design firm located in Istanbul.

I’ve been asked by clients and others, “Why Istanbul? Why Turkey?”

The reasons are numerous, and I assure you this was no random decision. In short, the answer is growth. Along with Brazil, India, and China, Turkey is a nation of intense political and business development that is placing it among the world’s top growth markets.

Here are some relevant notes regarding Turkey’s economic development over the past few years:
• Novartis recently named Turkey as one of the four countries that would
account for 50% of its pharmaceutical revenue growth over the next five years
(WSJ, 8/8/07)
• As of 2004, Turkey was among the fastest growing economies in the OECD
(Organization for Economic Co-operation and Development). At the same time,
the inflation rate declined sharply. (OECD Economic Survey - Turkey 2004)
• “Average real GNP growth over the past three years has been close to 8% - it
was just short of 10% last year.” (Speech by Anne O. Krueger, First Deputy
Managing Director International Monetary Fund, May 5, 2005)

With the possibility of Turkey joining the EU some time in the next decade, the potential of our relationship with Rekmar and with the Turkish market is tremendous.

I’ll share more about Rekmar in a future posting.