Some 800 foreign-owned companies launched in Antalya

ANTALYA

Last year foreign nationals established a total of 791 companies in Antalya, most of them launched by Russians.

The popular holiday destination on the Mediterranean coast is home to a large expatriate population. Some 117,000 foreigners with residence permits live in the city, according to the data from the Presidency of Migration Management.

Thousands of Russians and Ukrainians moved to Antalya after the war between the two nations broke out.

In 2023, 6,765 companies were launched in the city, of which 11 percent were foreign-owned, according to the numbers of the Antalya Chamber of Commerce and Industry (ATSO).

Russians, who established 255 companies in the city, took the lead, followed by Germans at 83 and Iranians at 65. Ukrainians and Azeris launched 53 and 42 companies, respectively.

Most of the newly established foreign-owned companies (71) operate in the construction sector. Foreigners also founded 57 IT companies and 53 firms operating in the eatery and entertainment sector.

The first foreign-owned company in Antalya was founded in 1970. Since then, a total of 6,158 foreign-owned businesses have been launched in the city. Russians own 1,217 of those companies, while German nationals and Iranians own 765 and 675, respectively.

Foreign-owned wholesale and retail companies have the largest share in total, with 8.1 percent. Real estate and construction ranked second at 7.3 percent.

Last year, foreigners bought more than 12,000 in Antalya.