Istanbul is world’s first and foremost international trade hub and Türkiye’s business capital. The city has a lot of investment opportunities and advantages for foreign companies.
According to the history of humanity, international trade was created in Mediterranean. People traded olive oil, fruits, textile products and many others by maritime. As the end point of Eastern Mediterranean, throughout history, Istanbul has always been an important industrial port. Today, Türkiye is a member of G20 countries. Istanbul is the most critical business hub of Türkiye. Türkiye’s international trade brings 400 billion dollars every year, and three out of four businesses go through Istan- bul. This megacity, with a population of almost 20 million, does business with 200 different countries of the world. Istanbul aims to bring 1 trillion dollars from international trade in the upcoming 10 years.
As a mega city with a strong history of economic performance and significant infrastructure investment, Istanbul is Türkiye’s locomotive. Valued US$257 billi- on of GDP Istanbul’s economy accounts for approx. 40% of Türkiye’s economy. Istanbul’s GDP, therefore, surpasses that of about 25 European countries such as Romania, Hungary, Croatia and Luxembourg. As Turkish economy grows with historic records, Istanbul acts as the engine of growth, having US$17.1 K GDP per capita, which is well above the national average. Compared to 2001 level, GDP per capita in Istanbul has increased more than fivefold. The foreign trade volume is approx. US$206 billion, where 75K companies are dealing with international trade in Istanbul.
Over the past 15 years, Istanbul’s economy has experienced rapid structural change. Istanbul’s defining economic role has evolved from a service center to a dynamic urban center with strong, multi-faceted international connections. The economy is now highly diversified thanks to strengths in many new areas including significant clusters in knowledge-based sectors. The rise of high-te- ch industries in Istanbul has paved the way for globally competitive companies selecting Istanbul as their headquarters. Entrepreneurial activity is a crucial measure for Türkiye as the country aims for a transition from an efficiency-dri- ven economy to being an innovation-driven economy. Istanbul is, without qu- estion, a tempting market for entrepreneurship.