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Tuesday, August 22, 2017

Joint study lists four Turkish cities in economic top 10 ranking

A joint study by a Western think tank and investment firm ranked four Turkish cities in the top 10 for economic performance, the Turkish American Chamber of Commerce and Industry said on Monday.

A ranking of 300 major cities around the globe was completed by the Brookings Institution and JPMorgan Chase, and among the top 10 were Istanbul, Ankara, Izmir and Bursa. The top spot was given to Macau, a territory in China.

"If you look at world headlines, Turkey is not in the news for its economic success, but it probably should be," Brookings Institution representative Joseph Parilla said. "It has pretty solid macroeconomic policies."

The report said Turkey benefits from its proximity to both European and Asian markets, and its heavy investment ventures into infrastructure projects.

Cities in more developed countries tended to lag behind in this report, which also indicated that 65 percent of European cities and 57 percent of North American cities have not bounced back from the global recession.

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Turkish American Chamber of Commerce & Industry

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