The breathtaking Bosporus Strait divides Europe and Asia in İstanbul, the former capital of the Roman, Byzantine, Latin and Ottoman empires, a city where trade has been intrinsic to the global bridge since the advent of the Silk Road and the Spice Route.

One of Europe’s largest cities, İstanbul boasts 20 million inhabitants and, as its most visited, welcomes 20 million tourists annually, according to the Top 100 City Destinations Euromonitor International Index, 2023. Türkiye ranks 33rd out of 190 countries on The World Bank’s Ease of Doing Business Index 2020 Report. As of 2024, İstanbul accounts for nearly 40 percent of the country’s industrial output and taxes collected, plus almost 60 percent of its national imports and exports.

PHOTO: © HALIT SADIK | DREAMSTIME.COM

This vibrant present-day megapolis showcases towering skyscrapers, luxury waterfront properties, and new cultural and commercial centers, all positively impacting business and tourism. The İstanbul Finance Center opened on the Asian side of the city in April 2023, with Gold LEED- certified offices, conference centers, hotels and a shopping mall. Galataport İstanbul, the newly transformed, world-class, five-berth cruise port in Karaköy (formerly called Galata), on the European side, adds a mile-long waterfront complex with an underground walkway, marina, shops, restaurants, The Peninsula İstanbul and the Renzo Piano-designed İstanbul Museum of Modern Art.

The city’s past as a melting pot for Christians, Jews and Muslims pleases diners with culinary diversity. Street fare features meat-topped, pizza-like pide; iconic sesame-sprinkled simit circles; and gözleme, empanada-style pancakes.

Most meals start with meze: hummus, stuffed grape leaves, eggplant purée, yogurt and cucumbers, as well as muhammara, a spicy, garlicky, red pepper/tomato/walnut pesto. Traditional dishes include Turkish börek — a flaky pastry layered with savory fillings such as spinach, cheese or minced beef — and baklava, a rich, sticky pastry made of layers of filo separated with melted butter, filled with chopped nuts and topped with honey or sugar syrup.

CHECKING IN WITH İSMAİL BÜTÜN
General Manager, Türkiye Tourism Promotion and Development Agency, Turkish Tourism Board

What’s new in terms of development and business opportunities?
Recognizing İstanbul’s unparalleled significance in global tourism with its diverse cultural tapestry, Türkiye Tourism Promotion and Development Agency seeks to elevate its profile further by showcasing its unique offerings. Türkiye’s most dynamic and vibrant metropolis is ever-changing with innovative restoration projects, new openings and a continuous stream of cultural initiatives, yet its essence remains timeless. The revitalization of historical sites through conservation projects offers visitors a blend of modern amenities and cultural heritage. One of the oldest and most historic districts and an important commercial center and transport hub, Karaköy today blossoms with new art, design, shopping and dining spaces while presenting traditional and architectural neighborhood characteristics. Thanks to Galataport transforming the historical port into a vibrant neighborhood, Karaköy has everything from luxury accommodations to shopping and restaurants. The city is not only a beacon for tourists but also a key financial center, playing a pivotal role in Türkiye’s economy.

What’s happening politically and economically?
İstanbul continues to develop with new values in culture and tourism, poised to continue as a critical economic and cultural hub. The metropolis promises a bright future, with ongoing developments reflecting its role as a local and global key player, remaining a vibrant hub for growth and opportunity shaped by positive trends. İstanbul increases the number of visitors every year, breaking its all-time high record by hosting more than 10 million visitors in the first seven months of the year.

What are the strongest businesses and industries?
With Türkiye’s tourism strategies, İstanbul recently consolidated its position as a global tourism hub. One of the most visited cities globally, it also consistently expands its accommodation capacity, boasting an impressive array of hotels from the world’s most prestigious luxury chains, providing an unparalleled range of high-end lodging options. Moreover, İstanbul attracts the MICE sector with its diverse range of prestigious venues, services and attractions that cater to all demands. According to the International Congress and Convention Association, the city ranks among the top 10 congress destinations in the world.

In addition, the city is a hub for medical tourism, offering high-quality health care services; and the fashion industry is thriving, driven by a blend of traditional and modern styles that appeal to local and international markets. İstanbul also enjoys worldwide fame as a gastrocity, with fine- dining restaurants showcasing the creativity of innovative chefs — many female chefs among them — and Michelin-starred establishments elevating the culinary scene.

© GOTÜRKIYE

How will new development affect business and investment opportunities?
Developments always enhance İstanbul’s connectivity and business environment, attracting more foreign investment — and contributing to the city’s tourism appeal while enriching the visitor experience. We recommend visitors peruse the İstanbul Bucket List on Türkiye’s promotion platform, GoTürkiye. From marveling at architectural wonders like Hagia Sophia and exploring the labyrinth-like streets of the Grand Bazaar to enjoying a sunset over the Bosporus and discovering the hidden gems of its diverse neighborhoods, this list offers a comprehensive guide to the best experiences in every corner of İstanbul.

DIVERSIONS
The Beyoğlu district draws visitors for its art, entertainment, nightlife and Galata Tower, built by the Genoese in 1348 as a watchtower. Later a jail, it was restored in 1960, and visitors flock up 146 steps for the 360- degree view. An estimated 3 million pedestrians walk — or ride the restored tram — along the mile-long İstiklal Caddesi daily. The street, featuring shops and eateries within 18th-century Neoclassical and 19th-century Art Nouveau buildings, extends to Taksim Square, where the recently constructed Atatürk Cultural Centre houses the Grand Opera, cinema, chic boutiques, restaurants and an exceptional two-story art library.

From Beyoğlu, Galata Bridge crosses the Golden Horn, where the Sea of Marmara meets the Bosporus Strait. The former international trading port transformed into Tersane İstanbul with shorefront residences, hotels, event space and museums. Across the bridge, the walled Old City on the Sultanahmet peninsula in the Fatih district draws crowds to vast Sultanahmet Square, once an open-air, Roman-era Hippodrome, where for centuries 100,000 onlookers watched chariots race. The ancient, red granite Egyptian obelisk is one of a multitude of Roman remains in Türkiye (even more than in Italy).

Two UNESCO World Heritage sites flank the plaza; these mosques open to visitors (who must remove shoes) between five daily prayer times. The domed Hagia Sophia showcases mosaic work from 537, when it was built as a Byzantine church long before the Ottomans converted it into a mosque in 1453. (Nearby, visit the new Hagia Sophia History & Experience Museum, open 9 a.m.–7 p.m.) The newer and recently reopened Blue Mosque (circa 1616) features six soaring minarets.

© GOTÜRKIYE

The recently rebuilt sculpture-studded Basilica Cistern, with its 336 marble columns standing 30 feet tall, dates from the sixth century, when 7,000 slaves built it. When Topkapi Palace was constructed in the 15th century, this reservoir provided filtered water for the sultan’s residences, including the harem, the Ottoman administrative buildings — including the Treasury with its glittering collection — and all its waterfront gardens.

The Grand Bazaar offers 4,000 stalls stocked with gold, leather and designer replicas, while restaurants, hotels and individual shops line the adjacent narrow streets, including Cadircilar Caddesi, where the sale of fake luxury items thrives. The Spice Bazaar’s fragrant saffron, cumin and pepper stalls lie about a 20-minute walk away, near newly launched Sanasaryan Han, a Luxury Collection Hotel within a Neoclassical 1895 building.

İstanbul boasts dozens of public Turkish baths (hammams), where people flock to steam during the Turkish cleansing ritual. The sixth-century Zeyrek Çinili Hamam, a UNESCO World Heritage site, just reopened after a 13-year restoration and appears on Time’s World’s Greatest Places 2024 list.

The newer Beşiktaş district is one of the most important commercial and shopping areas of the city and the location of Beşiktaş J.K, the city’s popular football club and stadium. A succession of six sultans once resided in magnificent Dolmabahce Palace on the Beşiktaş shorefront, facing Üsküdar on the Anatolian side. From Beşiktaş, the transcontinental public ferry operates a pleasant trip to Üsküdar, where a short taxi ride transports visitors to the lighthouse and market in Kadiköy or to artsy galleries, boutiques and waterfront seafood restaurant Esmet Baba in Kuzguncuk.

INFO TO GO
Turkish Airlines flies daily from the United States to iGA Istanbul Airport, opened in 2018 and the second-busiest airport in Europe. Located about 20 miles from İstanbul’s Old City, it is larger than Sabiha Gökçen International Airport, about 27 miles from the city. Metro, taxi and shuttle transfers are available at both. A Tourist Transportation Card is valid for the city’s metro, tram, bus, metro- bus and ferry. Rental cars are not advised due to traffic and parking issues.

LODGING
Çirağan Palace Kempinski İstanbul                                                                                                       The iconic former imperial palace, housing opulent public spaces and suites, and the connected newer hotel building overlook gardens, terraces, a pool deck and a promenade aside the Bosporus.
Yıldız, Çırağan Cd. No:32, Beşiktaş/İstanbul
$$$$$

Conrad Istanbul Bosphorus
When the hotel opened in 1992, it added a one-of-a- kind, S-shaped design to the skyline; its 2016 renovation enhanced the views of the strait from its hillside perch.
Cihannüma, Saray Cd. No:5, Beşiktaş/İstanbul
$$$

Four Seasons Hotel Istanbul At Sultanahmet
The 65-room hotel, transformed from a former 1918 prison, was totally revamped in 2022. Rooftop Sureyya Terrace Lounge views neighboring mosques and the Sea of Marmara.
Sultanahmet, Tevkifhane Sk. No:1, Sultanahmet/İstanbul
$$$$$

DINING
Alaf
Chef Deniz serves authentic, nomadic-style Anatolian cuisine prepared on a wood- fired oven, worthy of a Michelin Bib Gourmand for good value in the Kuruçeşme neighborhood, where the rooftop cocktail terrace offers water views.
Kuruçeşme Cd. No:19, Beşiktaş/İstanbul
$$$$

Divan Brasserie Fuaye
This elegantly chic bistro inside the exciting Atatürk Cultural Centre offers views of the Bosporus and a diverse international menu from Turkish kofte to Italian risotto.
Mete Cd. No:2 D:1 Kat 2, Beyoğlu/İstanbul
$$$–$$$$

Pandeli Restaurant
Sample traditional Turkish fare (meze, kebabs, grilled aubergine salad, wood-fired spicy chicken and roast lamb) served surrounded by blue mosaic- tiled walls, upstairs within the Spice Market.
Rüstempaşa Mah. Balık Pazarı kapısı Sokağı Mısırçarşı İçi 1, D:2, Fatih/İstanbul
$$–$$$

OFFICIAL LANGUAGE
Turkish

COMING AND GOING
U.S. citizens no longer need a visa to visit Türkiye for up to 90 days but must have a passport valid for six months with at least one blank page.

JUST THE FACTS
Time zone: GMT+7
Phone code: Country code: 90 City code: 212 or 216
Currency: Turkish lira                                                                                                                                      Key industries: Textiles, food processing, tobacco processing, cement and glass, plus tourism and medical tourism