April 2015

In 2013, Forbes ranked Istanbul as the 2th fastest-growing megacity, while last year consultancy AT Kearney placed it 15th position in its Emerging Cities Outlook. Also KPMG’s 2014 Global Cities Investment Monitor put Istanbul in the top 25 for “global attractiveness” – its appeal to new business and greenfield investments (multinationals constructing new facilities from scratch).

With an average growth rate of 5 per cent in the past decade, Turkey is the fastest-emerging market among European and OECD (Organisation for Economic Co-operation and Development) member countries. The OECD projects Turkey as the third-fastest growing country after China and India by 2017 – and says it will overtake India after that.

Another advantage of the country is its young citizens. Turkey has 76 million people – half below the age of 30 – and a labour force of 28 million. It’s the biggest young population and fourth-largest labour force compared with EU members, although Turkey itsel has not yet joined the union. MICE sector is also on the rise here. Istanbul was ranked eighth by the International Congress and Convention Association for the number of international meetings held in 2013.

I recommend you to read our feature article about the changes taking place in Turkey and its largest city situated between Europe and Asia, which once was the capital of three empires: Roman, Byzantine and Ottoman.

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