Istanbul, Turkey – formerly known as Constantinople – continues to emerge as a Mecca for the arts and cultural experiences for the global community. With events like the International Arts and Cultural Festival which happens every summer, it draws hundreds of thousands of people and famous artists from all over the world. The event provides a vibrant atmosphere that displays some of the best that Istanbul has to offer, with many other opportunities presenting themselves daily.
While some businesses are placing a strong emphasis on technology or real-estate in Istanbul, investors and business-people could take a second look at the diverse range of other options such as arts and entertainment. From producing stage plays to live art, there is no limit to the possibilities for financial return in Istanbul.
One industry that is really booming in the city is film-making. With over 70 film production companies alone, according to www.kftv.com, the interest and talent are there. Due to the increase in the amount of TV shows and movies shot in Turkey, the industry is becoming a key point of interest for investors looking to make a mark in the city.
Here are some other reasons for investors and business-people to consider Istanbul:
Opportunity in Istanbul
There is growing interest in developing more entertainment and arts opportunities in the city. This provides an open door for investors to come in and take advantage of the wish to do so. Any time a place as alive as Istanbul shows promise in the area of entertainment, it is only a matter of time before that becomes one of the major, if not biggest draws for tourists and natives.
Economics of Istanbul
Istanbul is the most profitable city in Turkey. It accounts for 23 percent of Turkey‘s economic stimulation. Istanbul’s government expenditures continues to stay around seven to eight percent. While still maintaining about a 40 percent contribution to the overall state budget. The buying power that the people of Istanbul have is colossal, when compared with the rest of Turkey.
Tourism in Istanbul
It is estimated that ten million foreign tourists visited Istanbul in 2013 alone. These figures have increased at an average of about 10 percent year on year, regardless of the situation in neighbouring countries. Most of the city’s hotels are five-star hotels (about one-fourth) with another one-fifth rated as four star hotels. People from all over the world visit fourteen (out of 153 in Turkey) museums in Istanbul, so there is a prime chance to take advantage of these numbers by offering them culturally unique arts and entertainment experiences.
These are just a fraction of the great things happening in Istanbul for any investor looking to put their money to good use.