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About Turkey

     Turkey (Turkish: Türkiye), known officially as the Republic of Turkey (Türkiye Cumhuriyeti (help·info)), is a Eurasian country that stretches across the Anatolian peninsula in southwest Asia and the Balkan region of southeastern Europe. Turkey borders eight countries: Bulgaria to the northwest, Greece to the west, Georgia to the northeast, Armenia, Azerbaijan (the Nakhichevan exclave), and Iran to the east, Iraq and Syria to the southeast. It borders the Mediterranean Sea to the south, the Aegean Sea to the west, and the Black Sea to the north. Turkey also contains the Sea of Marmara, which is used by geographers to mark the border between Europe and Asia, thus making Turkey transcontinental.

     Because of its strategic location astride two continents, Turkey's culture has a unique blend of Eastern and Western tradition. A powerful regional presence in the Eurasian landmass with strong cultural and economic influence in the area between the European Union in the west and Central Asia in the east, Russia in the north and the Middle East in the south, Turkey has come to acquire increasing strategic significance.

     Turkey, a developed country, is a democratic, secular, unitary, constitutional republic whose political system was established in 1923 under the leadership of Mustafa Kemal Atatürk, following the fall of the Ottoman Empire in the aftermath of World War I. Since then, Turkey has become increasingly integrated with the West while continuing to foster relations with the Eastern world.

About Istanbul

     Istanbul (Turkish: İstanbul, see Names of Istanbul) is Turkey's most populous city, and its cultural and financial center. The city covers 25 districts of the Istanbul province. It is located on the Bosphorus Strait, and encompasses the natural harbor known as the Golden Horn, in the northwest of the country. It extends both on the European (Thrace) and on the Asian (Anatolia) side of the Bosphorus, and is thereby the only metropolis in the world which is situated on two continents. In its long history, Istanbul served as the capital city of the Roman Empire (330-395), the Byzantine Empire (395-1204 and 1261-1453), the Latin Empire (1204-1261), and the Ottoman Empire (1453-1922). The city was chosen as joint European Capital of Culture for 2010. The "Historic Areas of Istanbul" were added to the UNESCO World Heritage List in 1985.

     Istanbul is one of the most important tourism spots of Turkey. There are thousands of hotels and other tourist oriented industries in the city, catering to both vacationers and visiting professionals. In 2006 a total of 23,148,669 tourists visited Turkey, most of whom entered the country through the airports and seaports of Istanbul and Antalya. The total number of tourists who entered Turkey through Atatürk International Airport and Sabiha Gökçen International Airport in Istanbul reached 5,346,658, rising from 4,849,353 in 2005.

     Istanbul is also one of the world’s most exciting conference destinations and is an increasingly popular choice for the world’s leading international associations. Istanbul’s conference appeal developed with three separate conference and exhibition areas: The Conference Valley (Istanbul Convention & Exhibition Center, Istanbul Hilton Convention & Exhibition Center, the Military Museum Cultural Center and the Cemal Reşit Rey Concert Hall); The Airport & Exhibition District (150,000 m2 (1.6 m sq ft) of exhibition space around the CNR International Expo Center); and the Business & Financial District (with many distributed centers). These cluster areas feature a combination of accommodations, meeting facilities, and exhibition space. They can be used individually, or collectively through transportation with the Istanbul metro, and are linked together for accommodating events with 10,000 or more participants.

     Historically, Istanbul has been the center of the country's economic life because of its location as an international junction of land and sea trade routes. In 2005 the City of Istanbul had a GDP of $133 billion, outranking many prominent cities in the world including Singapore, Mumbai, Rome, Montreal, Milan, Beijing, Cairo, Jakarta, Vienna, Delhi, Bangkok, Tehran, St. Petersburg, Johannesburg, Stockholm, Cape Town, Berlin, Athens, Birmingham, Manchester, Hamburg, Turin, Lyon, Munich, Warsaw, Naples, Ankara, Amsterdam, Rotterdam, Brussels and many others, according to a research conducted by PriceWaterhouseCoopers (PWC).

     In 2005 companies based in Istanbul made exports worth $41,397,000,000 and imports worth $69,883,000,000; which corresponded to 56.6% and 60.2% of Turkey's exports and imports, respectively, in that year.In 2006 Turkey's exports grew a further +16.1% while imports grew +17.6% because of a rising demand of energy resources and raw materials by the industrial manufacturers in the country.

      Income distribution is not fairly balanced in Istanbul, such that 20% of the highest income group uses 64% of the resources and 20% of the lowest income group uses 4% of the resources (based on 1994 statistics). The change in Istanbul's living standards is a direct reflection of the nation's statistics as the 27.5% share of the total consumption in Turkey is performed by the population of Istanbul.

     In the late 1990s, the economy of Turkey, and Istanbul in particular, suffered several major depressions. The Asian financial crisis between July 1997 and the beginning of 1998, as well as the crisis in Russia between August 1998 and the middle of 1999 had negative effects in all areas of the economy, particularly on exports. Following this setback, a slow reorganization of the economy of Istanbul was observed in 1999.

     The major earthquake which was epicentered in nearby Kocaeli on August 17th, 1999, triggered one of the largest economic shocks for the city. Apart from the capital and human losses caused by the disaster, a decrease in GDP of approximately two percent occurred. Despite these downturns, Istanbul's economy has strongly improved and recovered in the recent years.