ISTANBUL

There are some cities...
That can welcome all in its rich culture and heritage.
That can unite continents, oceans, roads and give life to business. Even at the age of 8500 they continue to inspire the world. Istanbul is one such city...
And if you have the privilege of living in such a city you should make sure to enjoy all that it has to offer.

The seat of three great empires, a city that embraces two continents and welcomes the sea at its heart, Istanbul is the only city to maintain its stance as an economic center in every period of history. Although not the political capital, Istanbul always maintains its prominence as the major economic center of the country with a GNP share of approximately 23 percent. With a capacity of more than half of Turkey’s total export volume and a contribution of 43 percent to the total national budget income, and an income of more than $250 billion, Istanbul’s economy exceeds that of many countries.

While the private banks that drive the national economy have their headquarters in Istanbul, 21 percent of their total branch offices are active in this city. Further to an advantageous geographical position that provides access to one thirds of the world population, the city enjoys a high potential as a tourism destination, especially for incentives and conventions. One fourths of the city’s hotel stock consists of five-star facilities and about one fifths of four-star facilities. Also, Turkey’s major hub for air travel, Istanbul offers connections via two airports, Atatürk Airport on the European side and Pendik Sabiha Gökçen Airport on the Asian side.

The city enjoys a high potential as a tourism destination, especially for incentives and conventions. One fourths of the city’s hotel stock consists of five-star facilities and about one fifths of four-star facilities. Of the total 153 museums across Turkey, 14 are based in Istanbul and of the 2 million 400 thousand pieces of artifacts, 34 percent are exhibited in the Istanbul museums.

Industrial activities in Istanbul have recently been replaced by management headquarters and sectors such as finance and banking, tourism and various services. Contrary to this outcome in the industrial sectors, money markets are predominantly gaining strength in the city. Given its time zone, Istanbul can conduct business with the Asian countries during the four work hours in the morning, and with the European countries during the four work hours in the afternoon. This makes Istanbul a natural financial hub at the international level. About 35 percent of the monies deposited in banks and 33 percent of the loans taken from banks are gathered in Istanbul.

Almost all the headquarters of insurance, leasing, factoring companies and private finance firms are based in Istanbul. The Istanbul Stock Exchange, established as a Free Zone, is rapidly rising as one of the significant markets of the world.

This great historical city is redefining itself as an international finance, real estate and tourism destination.


For further information on Istanbul and its urban life please visit www.howtoistanbul.com