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Retail’s Hottest Emerging Markets 2011

Ranking last year: 18
Population: 78,785,548 (July 2011 est.)
GDP per capita: $12,300 (2010 est.)

Turkey jumps eight spots to 10th place, helped by strong growth in the country’s economy. GDP grew by a strong 8.9 percent last year as it recovered from the global recession.

Also, more women are entering the work force, which is driving up demand for a number of products such as convenience items. Retailers have been building more shopping malls, especially in larger cities such as Istanbul.

In medium-sized cities, smaller format stores are being introduced.


(Pictured: Shopping on the main street of Istanbul modern city center.)