Turkey has that most scarce, yet highly sought-after, attribute among European economies: growth. With this rising tide, is now the time for investors to be contemplating Turkey's growing Internet economy?

Certainly the statistics look good. According to the European Union, Turkey's real gross-domestic-product growth for 2010 was 9%, compared to just 2% for the 27 EU members. It is forecasting that growth for 2011 will be 7.5% against 1.9% for the EU.

Turkey...