Istanbul; 31 December 2012: Istanbul’s offer of a secure financial base for the 2020 Olympic and Paralympic Games has been reinforced this week with the announcement that the Istanbul Stock Exchange has exceeded 78,000 points for the first time in its history - ending the year at a close of day record of 78,208.44.
Turkey’s government is aiming to take the country into the top ten world economies by GDP in time for the Republic’s 2023 centenary, and this year Turkey’s credit rating was upgraded to ‘Investment Grade’. The Istanbul 2020 Bid Committee sees this continued growth in the face of ongoing global economic challenges as the ideal bedrock for a technically outstanding celebration of sport that fully energises the Games product and brand. Just as importantly, it ensures the capacity for creating an invaluable legacy for the city, the nation and the entire Olympic Movement.
Istanbul 2020’s bid leader, Hasan Arat, commented on the news:
"Istanbul 2020 is bridging across challenging economic realities and will take full advantage of Turkey’s robust and resilient economy. Our plan is an ambitious one: an Olympic and Paralympic Games across two continents simultaneously for the first time in history, at the point where East meets West and the ancient meets the ultra-modern. But this news proves that our spectacular Games vision is founded on an economy that offers delivery security and the capacity to take the Olympic Movement forward in partnership with the IOC."
IOC member and President of the Turkish NOC, Ugur Erdener, added:
"Turkey’s economic boom has enabled the country to invest more in sport at every level. Better provision for grass roots sport has produced significant increases in youth participation nationwide. The quality and professionalism of elite sport in Turkey continues to boost the world’s confidence in our ability to host major international sporting events. Hosting the Olympic Games in 2020 would amplify this effect, satisfying Turkish youth’s thirst for sport and creating a solid foundation for a legacy plan which revolves around the Olympians of tomorrow."
Final preparations are now being made for the submission of the Istanbul 2020 Candidature File by senior delegation from Turkey in Lausanne on 7 January 2013.
For more information contact: media@istanbul2020.com.tr
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