Christmas for Turkey: Istanbul World’s Best-Performing City

How the world’s cities have fared since the financial crisis hit in 2007

Cities are the great engines of growth in the world economy. Istanbul, with income growth of 5.5% & employment growth of 7.3% over the past year, is currently the world’s best-performing city, according to a new report by the Brookings Institution & the London School of Economics.

The report ranks 150 cities from across the globe according to growth in gross value added per person (a proxy for income) & employment. The 150 metropolitan areas represented just 12% of the world’s population but accounted for 46% of the world’s GDP in 2007.

Some cities have plunged in the rankings since the “Great Recession”. Dubai & Dublin, the second & sixth best-performing cities respectively between 1993 & 2007, now rank as the most stagnant.

Source: The Economist

Europe’s Top Investment City

This unique city, at the meeting point of Europe and Asia, located on both sides of the Bosphorus (Istanbul Straits) is described as a jewel by the famous French author Lamartine. Istanbul is a city of synthesis which realizes in an atmosphere of tolerance the uniting of the East and the West on the subjects of culture, art and religion, at the borders of two separate continents. The Bosphorus, which stretches out between the emerald-like slopes, the woods and the bays adorned with one thousand and one beauties, is unique. Halic Bay (Golden Horn), a horn-shaped bay located on the European side of Istanbul, is one of the most beautiful natural harbors in the world.