According to a report by Cushman & Wakefield - a commercial real estate consultancy company - on the biggest producer companies on a global scale, Turkey has the highest production rates in Europe, while China has lost the top spot to Malaysia.
The report presents the productivity appeal of countries and accordingly, China has lost its top spot due to increasing labor and operation expenses to Malaysia, while Turkey is the biggest producer in Europe and eighth biggest producer in the world.
The report revealed that factors such as cheap labor costs, access to markets, sustainability and supply chain are crucial in determining production bases for countries. Therefore, due to increasing labor and operation costs in China, production in countries with lower cost such as Malaysia, Indonesia and Vietnam are increasing. However, the Asia-Pacific region is still the dominant production destination, as seven countries in the region are in top 10 counties in the index.
Turkey has increased by three places when compared to the report published in 2014. Along with being a cross-road of Europe, Asia, Russia and Africa, Turkey also benefits from crucial infrastructure investments.
According to the report, with a safer and more cost-effective energy platform as well as energy resources such as shale gas and renewable energy resources, the U.S. is also improving its profile. It climbed from fifth place to become the fourth biggest producer in the world.
