Istanbul is the largest city in Turkey. It is the country’sfinancial and cultural center. The city is located at the Bosphorus and theMarmara Sea. The Bosphorus divides Europe from Asia. Istanbul is the onlymetropolis in the world that is located on two continents. The natural harborknown as the Golden Horn or Halic is located in this city. In 2010, Istanbulwas selected as the European Capital of Culture.
Due to its location as an international junction of land andsea trade routes, Istanbul has always been the center of the country’s economiclife. It employs nearly 20% of Turkey’s industrial labor and contributes 38% ofthe country’s workspace. Furthermore, Istanbul generates 55% of Turkey’s trade,45% of the country’s wholesale trade, as well as 21.2% of Turkey’s grossnational product. The city contributes 40% of all taxes collected in Turkey andproduces 27.5% of the country’s national product. By 1980, Istanbul had anaverage annual GDP growth rate of 5%.
Istanbul is the industrial center of Turkey. Most of Turkey’smajor manufacturing plans are located in the city. Istanbul and its surroundingprovinces produce cotton, fruit, olive oil, silk, and tobacco. Food products, textileproduction, oil products, rubber and metal products, leather, chemicals,electronics, glass, machinery, paper and paper products are the main industrialproducts of the city.
Tourism is amongthe major perspectives of Istanbul’s economy. There are thousands of hotels andother tourism related industries in Istanbul that provide professional servicesto visitors and tourists