Forbes: Turkey "Outperformed" Emerging Markets

7 March 2013; Istanbul: Forbes has cited the Turkish stock market’s "astounding 56 percent" growth in a report that names Turkey the best performer in its 2012 Periodic Table of emerging markets, reinforcing the country’s capacity to deliver an excellent Olympic and Paralympic Games in 2020.

The Forbes report – entitled "Turkey’s Hot Stock Market Is No One-Trick Pony" – alludes to Istanbul 2020's promise of bridging the ancient with the ultra-modern as it highlights the "fantastic transformation" that has taken place in Istanbul in recent years. The article states:

"Popping up among the beautiful Ottoman mosques, Byzantine churches, palaces and bazaars are ultra-contemporary art sculptures, shopping malls and lush landscaping. The blend of ancient with modern fits well with the young, vibrant and culturally diverse crowd that hangs out in the local cafes, shops and galleries."

The news comes just as TÜİK, the state-run statistics body, announced that Turkey’s jobless rate fell to 9.2 percent last year, the lowest it has been since 2005 and amongst the lowest in Europe.

Hasan Arat, Chairman of Istanbul 2020, said:

"This latest article in Forbes really sums up the mood of optimism in Turkey, and especially in Istanbul. We are on an upwards trajectory right now and we are nowhere near the top of our arc. Istanbul 2020 is capitalising on Turkey’s strong economic situation and we have the 100% backing of every level of government and our powerful private sector. This is Turkey’s first sports bid in history to have been launched personally by the Prime Minister, and $20 million in sponsorship represents the largest private sector investment in a Turkish sports bid ever. Istanbul 2020 has matched a 20-year desire with commitment and capacity."

Ugur Erdener, IOC member and President of the Turkish NOC, said:

"Istanbul is now ready to deliver a Games founded on technical excellence. The country’s economic strength has laid the foundations for us to host more and more sports events to world-class standards. We are still listening and we are still learning every time we stage competitions, and this would help us create the ideal conditions for elite athletic performance in 2020."

For more information contact:

media@istanbul2020.com.tr

Alternatively, find us online at www.istanbul2020.com.tr

on Twitter: @2020_istanbul

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