Istanbul the center of business and trade for centuries

view of modern Istanbul

Istanbul is the only city in the world that is located in two continents , the city that connects Europe to Asia.As early as the 7th century BC, Greek colonists occupied the peninsula on the western shore of the Bosporus Strait where the current is favorable and, of greatest importance, there is a natural harbor, known today as the Golden Horn. It was in the ideal location to control the trade from the Black Sea into the Aegean, which was so important for supplying Ancient Greece.The city rose in importance and wealth when it became the capital of the eastern roman empire.The vikings sailed to konstantinopolis,viking tradesmen bought and sold many wares and lots of slaves.Some Vikings settled in the city ,the famous viking Harald redbeard  and his fellow vikings became bodyguards for the emperor ,it is said the emperor was very pleased, and impressed with there courage ,loyalty,there fierce looks and fighting skills ,therefore he often gave expensive gifts to his vikings. Harald and his fellow vikings became very rich in a short period of time, so when he sailed back home to Scandinavia he became very powerful and was declared the chief of the vikings. The city served as a commercial center with high demand for luxury goods and a hub for exchange of goods between the west and east therefore Istanbul was one of the most important  cities on the silk road. Istanbul is famous for its grand bazaar where haggling over price of wares has become an artform.       

Istanbul is big, the official population of Istanbul is 16 million unofficially it’s more around 22 million. Istanbul’s valued GDP is 349billioun usd. That is bigger than 25 European countries,such as Greece,Portugal and almost as big as Denmark. It is responsible of 40% of the taxes paid in Turkiye and it is home to more then 32 thousand international companies.Istanbul has a very active expat community with business people from all around the world.Istanbul airport is one of the biggest airports in the world, it covers more then 76 million square meters, and when and if the airport develops to its final stage it will be able to handle 200 million passengers a year.Currently its capacity is 90 million.

In 2021 Istanbul airport handled 37 million passengs.No doubt Istanbul has big ambitions.It is the home base of Turkish Airlines,with 197 international destinations in 104 different countries. Turkish airlines is the biggest airline in the world, this coverage is greater than any other airline in the world. Istanbul Airport has a great geographical advantage and it is also a big hub for air cargo linking Europe to Asia and middle east and Africa.Istanbul is where east meets west.

 

It is a common saying among normal people in Turkiye that Istanbul’s streets are boraded with gold, referencing to many tails of rags to riches stories from istanbul,stories which typically starts with a person coming from a rural area in to the big city and getting rich in a very short period of time. There are opportunities but also dangers,many more fortunes have been lost than made in Istanbul. It is a tough business environment and you can be sure that any sign of weakness will attract people that will try to take a advantage of you.The city is fueled by enormous amount of greed.There is lots of old money in the city,fortunes that has been accumulated over hundred of years.No amount of wealth is enough in Istanbul.In that sense it is a concrete jungle.many fortunes have been made and lost in a short period of time in Istanbul. 

So you better bring your A-game if you are going to do business in Istanbul or else you will get eaten by  the sharks. 

        

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Albert Balkan Kale

WebSite creator,Economist, Passionate Business developer