Made In Türkiye October 2024

Economic Newspaper
Cosmetics and
Personal Care
2 Please mention
“Made in Türkiye” when writing to advertisers
Products
October 2024
Mehmet Soztutan
Editor-in-Chief
Letter From
The Editor
Sweet November, beautiful
November…
It is with great pleasure that I introduce this special edition of
*Made in Türkiye*, dedicated to the dynamic and fast-growing
Cosmetics & Personal Care industry. As we bring this issue to the
prestigious Beautyworld Middle East fair in Dubai, we are proud
to showcase the innovation, quality, and heritage that define Türkiye’s
contribution to the global beauty market.
Türkiye’s beauty industry has seen extraordinary growth in recent
years, combining our nation’s rich traditions with cutting-edge research
and development. From skincare to personal care products,
Turkish brands are pushing the boundaries of what is possible,
offering high-quality solutions that resonate with consumers
worldwide. Today, Turkish beauty products are not only popular
at home but are sought after across global markets, making their
mark in Europe, the Middle East, Asia, and beyond.
Beautyworld Middle East offers the perfect platform to present
the best of what Türkiye has to offer. As one of the leading trade
fairs for the beauty industry in the region, it brings together
key players from across the globe. This is a unique opportunity
for Turkish companies to connect with international partners, forge
new business relationships, and expand their presence in the
Middle Eastern market.
In this special supplement, you will find insightful articles on the
latest trends in cosmetics and personal care, profiles of leading
Turkish brands, and a closer look at the innovations that are propelling
our industry forward. We are especially proud to feature
companies that have successfully integrated sustainable practices
and natural ingredients into their products, reflecting a global
shift towards conscious beauty consumption.
As always, we extend our heartfelt thanks to our partners and advertisers
who continue to support *Made in Türkiye* and help us
promote Türkiye’s thriving industries on the world stage.
We hope this edition provides valuable insights and highlights
the immense potential of the Turkish beauty industry. We look
forward to seeing you at Beautyworld Middle East and wish you a
productive and successful event.
THOUGHT OF
THE MONTH
Always listen to experts!
They’ll tell what can’t
be done and why. Then
do it!
World Bank revises up
global growth forecast for
2024
GDP growth projected at 2.6% this year, 2.7% in 2025-26
ANKARA – The World Bank revised the global growth forecast
for this year to 2.6%, up 0.2 percentage point from its previous
projection.
The figure is foreseen to hold steady compared to last year for the
first time in three years despite heightened geopolitical tensions
and high interest rates, the bank said in its latest Global Economic
Prospects report.
The upward revision was led by continued solid growth in the US,
it stressed.
The bank forecast the gross domestic product (GDP) growth will
edge up to an average of 2.7% in 2025-26 amid modest growth in
trade and investment.
The figure is below the 3.1% average in the decade before the
pandemic or 2010-19.
“Four years after the upheavals caused by the pandemic, conflicts,
inflation, and monetary tightening, it appears that global economic
growth is steadying,” said Indermit Gill, the World Bank Group’s
chief economist and senior vice president.
The GDP in developing economies are forecast to increase 4% on
average in 2024-25 and in advanced economies to hike 1.5% this
year before rising to 1.7% next year.
Gill underlined the need for developing economies to find ways to
encourage private investment, reduce public debt, and improve
education, health, and basic infrastructure.
The report highlighted that one in four developing economies is
expected to remain poorer than it was in 2019.
The World Bank hiked its growth projection for China by 0.3
percentage point to 4.8% this year, due to stronger-than-expected
activity in early 2024, particularly exports. The world’s secondlargest
economy is projected to grow 4.1% in 2025, down 0.32 point
from the January report.
The GDP in the US is expected to increase by 2.5% this year and
1.8% next year, with upward revisions of 0.9 point and 0.1 point,
respectively.
The euro area’s GDP growth is projected to come in at 0.7% in 2024,
the same as foreseen in the previous report, and 1.4% in 2025, a
downward revision of 0.2 points.
The Turkish economy’s growth forecast was cut by 0.1 point to 3%
for 2024 and 0.3 point to 3.6% for next year.
The World Bank projected the global inflation to average at 3.5%
this year and 2.9% in 2025.
Global interest rates are likely to remain high by the standards of
recent decades -- averaging about 4% over 2025-26, roughly double
the 2000-19 average, read the report.
Responsible Editor:
Mehmet Söztutan
(mehmet.soztutan@img.com.tr)
Editors:
Assoc. Prof. Mehmet Ali Özbudun
Ayça Sarıoğlu
Dilara CİCA
Correspondent:
İsmail Çakır
(ismail.cakir@img.com.tr)
Marketing Manager:
Recep Arslantaş
(recep.arslantas@img.com.tr)
Arts Director:
Tayfun Aydın
(tayfun.aydin@img.com.tr)
Subscription:
Ismail Özçelik
(ismail.ozcelik@img.com.tr)
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-What about economists?
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WHEN CONTACTING ADVERTISERS
THE ECONOMIST
Well
Those who cannot forecast interest
rates, and
- Those who do not know that they
cannot forecast interest rates.