Google-Backed Report Says Turkey’s Online Business Will Surge

Turkey’s Internet economy will probably grow at 19 percent a year until 2017 as Turkish companies embrace Web-based business, according to a report sponsored by Google Inc. (GOOG)

Turkey’s Internet economy will grow to 2.6 percent of gross domestic product, or 64.3 billion liras ($35.7 billion), by 2017 from 1.7 percent and 22 billion liras in 2011, Boston Consulting Group Inc. said in the report. In 2011, Turkish consumers spent about 8.8 billion liras on Internet access and charges, and more than 4.4 billion liras on e-commerce.

“Consumption is expected to be the largest driver of growth, primarily through an increase in e-commerce following a rise in broadband and Internet user penetration,” according to the report.

In a more optimistic case, with broadband penetration and smartphone retailing at the upper end of expectations, the figure in 2017 may reach 76.4 billion liras, or 3 percent of GDP, similar to current levels in Germany or France, according to the report. About 47 percent of people in Turkey use the Internet, less than the European Union level of 71 percent, the report showed.

via Google-Backed Report Says Turkey’s Online Business Will Surge – Bloomberg.