Istanbul thrives as the new party capital of Europe

basil


Joined: 10/04/2009
Posts: 168

Message Posted:
02/01/2011 15:39

A recent study by the Washington-based Brookings Institution, in a joint investigation with the LSE Cities project, judged that Istanbul had beaten Beijing and Shanghai to claim the title of 2010's most dynamic city.



"Istanbul takes the top ranking for economic growth in the past year," wrote Alan Berube, director of the Brookings Metropolitan Policy Programme. "Its economy expanded by 5.5% on a per capita basis, and employment rose an astonishing 7.3% between 2009 and 2010. Turkey's banking sector, which was less invested in risky financial instruments, became a safe haven for global capital fleeing established (and exposed) markets during the downturn."



http://www.guardian.co.uk/world/2011/jan/02/dispatch-istanbul-most-dynamic-city