The Importance Of Istanbul: The Heart Of Turkey

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Istanbul is the fifth largest city in the world and is one of the largest agglomerations within the European country. Its size, public demographic, and its development as a city has in result made Istanbul the heart of Turkey. In this paper, discussed will be the actual and relative location of the city. The demographic and economic structure, the economic base, the major industries and their classifications (i.e. primary, secondary, and tertiary sectors), and the major site and situational factors that relate to the city 's development regarding industry and manufacturing. As previously stated, Istanbul takes place as one of the five most populous cities in the world; and land size and economic impact play a key role in its classification. Regarding economic significance, Istanbul bears the characteristics of being the capital city of "three great empires" (Economy, ibb.gov.tr), and has …show more content…
For instance, Istanbul employs approximately 20% of Turkey 's industrial labor and contributing 38% of Turkey 's industrial workspace (Economy, greatistanbul.com). In addition to Istanbul 's economy, the city generates roughly 55% of Turkey 's trade and 45% of the country 's wholesale trade, making up about 21.2-23% of Turkey 's gross national product. The economic potential of Istanbul, ultimately, is huge. Approximately, 57% of national export and 60% of national import is made from Istanbul. Also, the city has 30% of total commercial firms of Turkey, thus making Istanbul Chamber of Commerce (ITO) and Istanbul Chamber of Industry (ISO) as one of the largest trade chambers in the world (Economy & Business in Istanbul, independent.co.uk). This has attracted many multinational companies, offices, shops, brand names and international banks, all the while placing several business centers for offices and bank branches in all of its districts. (Economy & Business in Istanbul,

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