By: Finding an International Business Bank as a Digital Nomad | Moneyite

Finding an International Business Bank as a Digital Nomad | Moneyite — Sat, 17 Jan 2015 05:21:10 +0000

Dealing with banking issues is one of the most difficult aspects of a small digital nomad business…

By: Gokay Islamoglu

Gokay Islamoglu — Mon, 20 Oct 2014 15:53:01 +0000

This money is actually very important for developing countries. I would like to give example about Turkey. In 1960’s and 70’s Germany took thousands of Turkish workers to work as `guest worker`.(now There is more than million Turks in Germany) But year by year, these `guest workers` settled there, bring their families, their kids born in Germany. But They keep sending their money to Turkey (probably they didn’t trust German Banks or they send their families to that savings) because all of them was thinking that one day when they save enough money they will go back to their country. These cash entered Turkey and developed Turkey’s economy year by year. However, after 1st generation Turkish workers, 2nd generation who knows German as mother-tongue and doesn’t really belong to Turkey didn’t send their money back like their father, it is logical because they don’t have bond like 1st generation. So, developing Turkish economy got hit, because cash flow from Turkish-German workers decreased sharply and Turkish economy really needed it. Bum! At the end of 90’s Turkish Economic Crisis started. (Of course there are other reasons also)

All in all, I really think that this money is very important for economies. I’m sorry if I make it too long.

Comments on: International Migrants: Economics and Banking

By: Finding an International Business Bank as a Digital Nomad | Moneyite

By: Gokay Islamoglu