Yeni Safak – Turkey’s financial capital has scored highly as a fast riser in Jones Lang LaSalle’s (JLL) ‘Business of Cities 2015’ study. Observing the development of metropolitan centers around the world during the last 5 years, the study put Istanbul at the top of the 5 fast-improving cities according to their rankings across 6 indices.
The study cited Istanbul’s constant improvement in a number of areas, including financial services and city image, stating that "Istanbul is the most consistently improved city over the recent timeframe. In particular, it has cemented its status as a diversified onshore provider of financial services, and has regularly overtaken medium-sized established cities, owing to its scale and gateway functions."
JLL Turkey head Avi Alkas said that the study shed light on strategic opportunities for those who live or do business in the surveyed cities. Highlighting Istanbul’s performance, “These results indicate how the cities’ ranking in the index can change depending on their performance. Improving standards, changes in perception, availability of new information, and formation of business partnerships all play a role,” Alkas noted.
Thanks to its location as a bridge between Europe and Asia, Turkey’s megacity is home to a significant number of global companies, either as regional headquarters or operating offices. Istanbul is also set to become an international financial center, with its surging commerce and vibrant financial market.