POSTED: December 31st 2012
Istanbul 2020: The city stock exchange hits record breaking high
Sports Features Communications
December 31 – The Istanbul bid got an end of the year boost as the Istanbul stock exchange surpassed 78,000 points by an extra 208.44 making it an all-time high.
Turkey’s government has had a very positive year as the country’s credit rating was elevated to ‘Investment Grade’ and they are aiming to make the top ten world economies by GDP to mark the Republic’s centenary.
“Istanbul 2020 is bridging across challenging economic realities and will take full advantage of Turkey’s robust and resilient economy,” said bid leader Hasan Arat. “Our plan is an ambitious one: an Olympic and Paralympic Games across two continents simultaneously for the first time in history, at the point where East meets West and the ancient meets the ultra-modern.
“But this news proves that our spectacular Games vision is founded on an economy that offers delivery security and the capacity to take the Olympic Movement forward in partnership with the IOC.”
The financial stability is a plus for the bid and should they win the Games would prove an invaluable legacy for the city as well as the opportunity to host the Games across two continents as the city bosts both Europe and Asia.
Ugur Erdener, IOC member and head of the Turkish NOC said, “Turkey’s economic boom has enabled the country to invest more in sport at every level. Better provision for grass roots sport has produced significant increases in youth participation nationwide.
“The quality and professionalism of elite sport in Turkey continues to boost the world’s confidence in our ability to host major international sporting events.
“Hosting the Olympic Games in 2020 would amplify this effect, satisfying Turkish youth’s thirst for sport and creating a solid foundation for a legacy plan which revolves around the Olympians of tomorrow.”
All the three cities Istanbul, Madrid and Tokyo are preparing to submit their final bid plans in just a little over one week on January 7th to the IOC.
The IOC will select their winner on September 7, 2013 at the session in Buenos Aires, Argentina.
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Laura Walden ()
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