Istanbul: a legendary city

Foto: Stefan Kostoski — Unsplash

This text was originally written for the Brazilian company CCBT

Istanbul is the most popular city in Turkey. It became important throughout history because of its strategic position on the historic Silk Road connecting Europe and the Middle East. Also, the place has a long history that spans the rise and fall of the world’s most famous empires — the ottoman and its dynasty.

Istanbul role in the Turkish economy

Today, the city’s economy is responsible for 27% of Turkish GDP, and, because of its size, Istanbul extends into both Europe and Asia. Even though Ankara is the capital of Turkey, the city maintained the main social role and prominence in geopolitical and cultural affairs.

As expected for a city of such size, Istanbul has a diverse industrial economy producing commodities such as olive oil, tobacco, cars, and electronics. As the only sea route between the oil-rich Black Sea and the Mediterranean, the Bosphorus is the busiest waterways in the world, with more than 200 million tons of oil passing through the strait each year.

Istanbul has numerous shopping centers — from the modern to the historic. The city host Grand Bazar, one of the oldest malls on earth, which is serving the local population since 1461.

The city is huge, and there are endless crowds of people even on the outskirts of the city. Today, the city consists of 39 districts, and the Asian zone is the most residential zone of Istanbul. The main neighborhoods of the Turkish economic capital are Fatih, Ataşehir, Bahçelievler, Bakırköy, and Beyoğlu.

Unfortunately, Istanbul was hit hard by the 2018 Turkish currency and debt crisis. Nonetheless, the average salary in the city is €430 (an average income higher than most “in development process” countries). But skilled professionals like doctors and engineers can earn as much as €1000 a month. Also, in 2016, Istanbul hosted 26 billionaires.

Tourism revenue in the local economy

Tourism is a very important part of the local economy. Approximately 12.5 million visit the city each year, making the city the fifth most popular tourist destination in the world. Because of the importance of tourism income, the police are always on alert and this possible to see armed vehicle and machine guns everywhere in the city.

Religion issues

More than 90% of the Istanbul population is Muslim, and the locals attend mosques several times a day to pray. Nonetheless, Turkey is a very tolerant country, then, there is no problem being a non-Muslim in the city.

Projects for a better future

There are a lot of development projects going on in Istanbul. Residential blocks — from ultra-luxury to budget — are being built. Even though the skyline in the central part is a combination of low rise old buildings, new skyscraper are appearing. In October of 2018, a new airport started to serve the city, becoming one of the biggest in the world, with a passage turnover of 150 million passengers. Also, new projects to improve the quality of roads and tunnels were made in recent years.