Turkey 2020 Olympic Games to stimulate growth and investment

Turkey announced that they are to formerly put in a bid for the 2020 Olympics. Should Istanbul manage to win the bid for the 2020 Olympics, Turkey will spend billions in development to be ready for the Olympics.

Serdar Bacaksiz, board member of Limak Holding, said: “Turkey has the power and financial capacity to host the games. Istanbul already needs major investment in infrastructure, sport facilities and transportation.”

In the last three Olympic Games, the hosts have spent an average of $22.1 billion to prepare for the Games. Should Istanbul win the bid, then the potential return on investment for Turkey could greatly outweigh the costs. The development in Turkey and the new infrastructures that will be built will provide Turkey with outstanding growth in a short amount of time.

The current state of the Turkish economy has led to this bid for the 2020 Olympics being touted as the strongest bid that Turkey has ever put in to host the Olympics. Rona Yircali, the board chairman of the Foreign Economic Relations Board, said: “Turkey’s candidacy for this is a result of the county’s economic performance.”

Inan Demir, chief economist of Finansbank, said: “One way or the other, it would boost the country’s economy for sure.” A successful Olympic Games bid by Turkey followed by a successful Games themselves, will see Turkey really captivate the world spotlight on their already impressive economic and political situation compared with other countries.

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  1. […] the Turkish campaign to land the Olympic Games be successful, it is thought that it would lead to a lot of development and growth within Istanbul […]



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