POSTED: March 10th 2013
NewsUpdate

Forbes: Turkey's fantastic transformation emphasised by stock market growth

CHAD WISE / Sports Features Communications

March 10 – Forbes has named Turkey the best performer in its 2012 Periodic Table of emerging markets based on the Turkish stock market’s 56% growth. The accolade is set to serve Istanbul well in its pursuit to host the 2020 Olympic and Paralympic Games.

The article alludes to Istanbul 2020’s promise of bridging the ancient with the ultra-modern.

“Popping up among the beautiful Ottoman mosques, Byzantine churches, palaces and bazaars are ultra-contemporary art sculptures, shopping malls and lush landscaping,” Forbes’ “Turkey’s Hot Stock Market Is No One-Trick Pony” article stated. “The blend of ancient with modern fits well with the young, vibrant and culturally diverse crowd that hangs out in the local cafes, shops and galleries.”

“The latest article in Forbes really sums up the mood of optimism in Turkey, and especially in Istanbul,” Istanbul 2020 Chairman Hasan Arat said. “We are on an upwards trajectory right now and we are nowhere near the top of our arc. Istanbul 2020 is capitalising on Turkey’s strong economic situation and we have the 100% backing of every level of government and our powerful private sector. This is Turkey’s first sports bid in history to have been launched personally by the Prime Minister, and $20 million in sponsorship represents the largest private sector investment in a Turkish sports bid ever. Istanbul 2020 has matches a 20-year desire with commitment and capacity.”

TÜİK, the state-run statistics body, also announced the fall of Turkey’s jobless rate to 9.2 % in 2012, the country’s lowest since 2005.

“Istanbul is now ready to deliver a Games founded on technical excellence,” IOC Member and President of the Turkish NOC Ugur Erdener said. “The country’s economic strength has laid the foundations for us to host more and more sports events to world-class standards. We are still listening and we are still learning every time we stage competitions, and this would help us create the ideal conditions for elite athletic performance in 2020.”


Keywords · Istanbul 2020 · Forbes · Olympic bidding · stock market


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