The pros and cons of investing in Istanbul, Turkey.
Istanbul, Turkey – formerly known as Constantinople – continues to emerge as a central hub for arts and cultural experiences.
With events like the International Arts and Cultural Festival, which happens every summer, it draws millions 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 and financial loss in Istanbul.
One industry that is booming in the city is film-making.
With over 70 film production companies alone, according to www.kftv.com, the interest for media consumption and the talent to provide it are there.
Due to the increase in the number 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 investors and business-people consider when looking into Istanbul:
Opportunity in Istanbul
There is a 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. Including non-traditional things too, such as numerous Netflix series and viral rap music videos.
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 per cent of Turkey‘s economic stimulation.
Istanbul’s government expenditures continues to stay around seven to eight per cent.
While still maintaining about a 40 per cent 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 per cent year on year, regardless of the situation in neighbouring countries.
Most of the city’s hotels are five-stars (about one-fourth) with another one-fifth rated as four-star hotels.
Successful American companies are heavily investing in tens of hotels each year.
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.
Like any investment, there are risks associated with getting involved with any type of investment.
Disclaimer: The content on this page is for entertainment and informational purposes only. It should not get taken as advice, including for investments or anything else.