Why Istanbul is a Global Destination for Business Events?

For centuries Istanbul was, due to its excellent position between the two continents, a major trade center that connected East and West. The Silk Road market stands are replacing with brilliant skyscrapers and big banks. But Turkey’s largest metropolis like Istanbul remains one of the leading commercial Istanbul is a Global destinations in the world. Thus, Istanbul has become a perfect city for business events. 

 

There are many reasons and Business highlights, why Istanbul is the perfect location for business events and travelers, we will focus on the Top 10 reasons that make Istanbul is a Global Destination for Business Events:

1- Location Advantage:

In Asia-Europe, the Bosphorus Strait was the dividing line between Asia and Europe during its creation 2,500 years ago. This excellent position enables the city to quickly develop into a cross-continental trade center. It is making it the first international business destination to be established today. Thus, it becomes a global hub of Business events. 

Now Istanbul is responsible for more than half of the commerce in Turkey. It is partly due to its flourishing harbor. Also, it is an important gathering place for the leaders of the oil, metal, rubber, and pharmaceutical sectors. Business people are using it for Business events. The Hotel Radisson Blu Bosphorus, Istanbul, is located in a great position adjacent to the Bosphorus Bridge. It offers traders the perfect place to act or to remain with the picture alone. The two settlements are on both sides of the Strait, on the European side. They are the main commercial areas of Istanbul away from the sea. 

Also, according to a population map created using data from the Ministry of Interior’s Address Registration System, Istanbul had almost 600,000 fewer inhabitants in 2020 than it had in 2010. The city had a population of 14.8 million in 2020. 

2- Istanbul trade port:

If the height of the buildings of a city refers to their economic prosperity, Istanbul seems to be doing well. The tallest structures are not unexpectedly found in the two commercial areas. Despite trade unification, the regions are engaging in a violent competition that competes for the next major building project, a constantly changing, super-modern metropolis. The highest building in Turkey at the moment is the 65-story Skyland Istanbul, 284 meters high, situated at şişli. 

Skyland Istanbul is really made of 2 (top mixed-use towers acting as offices and apartments). International banks, like Deutsche Bank, Citibank, JP Morgan, and Merrill Lynch, have all offices in the districts of Levent and Maslak. 

Also, other banks, including the Commercial Bank of Qatar, hold shares in local Turkish banks. As the financial industry in the nation continues to offer investment possibilities, more financial institutions in foreign markets are joining Istanbul. 

3- A Fast-Growing Economy:

Because of its advantageous position, Istanbul serves as Turkey’s financial center. The city produces almost 40% of Turkey’s gross domestic product (GDP), and it contributes around 40% of the country’s yearly budget. Istanbul, being the country’s biggest industrial hub, employs about 20 % of the country’s industrial workforce. Food processing, textile manufacturing, oil products, and alcoholic beverages are only a few of the city’s major industrial goods. Istanbul is also Turkey’s most significant export gateway, accounting for 36 % of the country’s overall exportation activity. 

4- Levent Business District-Istanbul-Turkey :

Retail is a major industry in the upscale district of Šişli in Istanbul. The area is home to Istanbul Cevahir, Europe’s biggest retail center. International companies such as LG, Samsung, and Sony all have locations, and the mall has more than 200 shops spread across six levels. 

Located only a 10-minute walk from Radisson Blu Hotel Istanbul Sisli, the hotel is now ideal for conferences. It is a great business center with free high-speed Wi-Fi Internet access. So, it offers the meeting and Business events areas before heading to the mall to relax in the cinema. 

5- Radisson Blu Hotel Istanbul Sisli Lobby interior:

The port of Istanbul for business travelers moved from the trade port to the airport of Istanbul throughout the 20th century. In 2013, at Atatürk International Airport, more than 50 million people went to the old airport in Istanbul. They make it Europe’s sixth busiest airport. A major refurbishment of the airport was recently carried out. 

Istanbul is now linking to more than 300 locations. Also, over 200 million people a year will be received at the airport. Developments like these have established Istanbul as a Global Destination as a worldwide center of commerce in the 21st century. As London and Istanbul are only four hours apart, it is a great hub for meeting colleagues from countries all over the world. 

6- A Warm Welcome: 

Istanbul welcomes business visitors with the hotel industry in the town and encourages a wave of construction of infrastructure across the city. 

Following the reopening of international borders in the majority of nations, the number of foreigners visiting Turkey rose by 367.5% yearly to 4.36 million in July 2021. Istanbul alone experienced the greatest growth in the number of hotels in Europe. 

According to the provincial office of culture and tourism, more than 2.7 million international visitors visited Istanbul from 1st January to 30th June of 2021, an increase over the previous year. 

These optimistic statistics are coinciding with the flourishing of new, high-end hotels in Istanbul, notably the Golden Horn. Other participants on the hotel market in Istanbul include Fairmont Quasar Istanbul, which debuted last year, and the Peninsular Hotel in Hong Kong, and Shanghai Hotels, which is under development in the center of the city. 

7- How Istanbul Welcomes More Business People? 

The growing number of visitors is good news for the economy and for their lives relying on tourism. But what about business travelers’ income and foreign conferences? Could it be the solution to the Turkish strategy to attract 50 million tourists a year by 2023? The answer is yes, as the city has already become a global hub of Business events. 

Timur Bayindir, President of the Turkish Hotel Association, advocated for investment to attract business travelers and business firms conducting conferences in Istanbul. Thus, it is ideal to assist the number of visitors expand and boost the interest of those seeking to invest in Turkey. It certainly appears to be going in the right way, with new hotels, an airport, and a financial hub. 

8- Global Level Airports:

Geographically speaking, Turkey is located at a favorable junction between Asia, the Middle East, and the rest of Europe. Thus, it is ideal to make conferences and meetings simple and convenient. 

It seems that business travelers are also being cared about. It aims to replace the antiquated Istanbul Ataturk Airport, presently the 15th most busy airport in the world. There is thus definitely the ability to welcome millions of more tourists. 

The New airport will handle 150 million people a year and will accommodate an extra 50 million. This makes it the world’s biggest airport, and its management also competes for the world’s busiest airport. 

It is only 22 miles from the main center of Istanbul, and 120 nations may be reached in three hours. It is intended to be the future hub for Turkish Airlines, presently flying from Istanbul to more than 110 countries. 

The airport will also have the biggest terminal hotel in Europe. Rooms will be accessible on land and in the air at the Yotel pod-type hotel. It is making it an ideal spot for business-time travelers. 

Istanbul Airport received 456,000 international tourists, while Sabiha Gökçen, the second-largest airport in the megacity, welcomed 224,000 people from across the world. 

9- The Ataşehir Finance Center: 

HOK, the worldwide design, architectural, engineering and planning company, develops a master plan for the construction of an Istanbul-style $2.6 billion financial hub. This 45-million-square-foot office, residential, retail, conference, and hotel area will become a major participant in the worldwide business market. Businessmen commonly use it for Business events. 

The aim is for multinationals to locate their worldwide headquarters there. You will see a new metro in the near future. Also, people can enjoy the sustainable electricity and water supplies in Istanbul is a Global Destination International Financial Center. They will also enjoy advanced data protection and security. This multidisciplinary location is surrounded by an urban park. Also, it is an appealing all-around proposal for companies seeking to relocate from more costly towns. 

10- Getting Citizenship Is Easy and Low-Cost:

The fact that Turkish passengers are ready to buy a $250,000 worth property also attracts business travelers. Now it will be simpler for entrepreneurs and smaller businesses, without bureaucracy, to set up a base in Istanbul than before. 

Investors had to pay $1 million to acquire Turkish passports. But the Turkish government chose to reduce its own barrier in order to draw money to the nation. Also, it remains in step with other countries that provide citizenship-by-investment. Therefore, Istanbul is now acting as a global destination for Business events, conferences, Seminars, Exhibitions, trade fairs, forums, and much more.