By Danielle Rossingh – Feb 27, 2013 1:01 AM GMT+0100<\/p>\n
Istanbul, which failed in four previous attempts to stage the Olympics, is counting on its fast-growing economy and young population to land the 2020 Games.<\/p>\n
The city, which bid to host the 2000, 2004, 2008 and 2012 Olympics, is competing with Madrid and Tokyo to organize the world\u2019s biggest sports event. The International Olympic Committee will select the host city in Buenos Aires in September.<\/p>\n
\u201cThis time, it\u2019s totally different,\u201d Hasan Arat, the chairman of the Istanbul 2020 campaign, said in an interview in London yesterday. \u201cThis fifth bid is a new bid for a new Turkey.\u201d<\/p>\n
While the country struggled with \u201ctriple-digit\u201d inflation a decade ago, Arat said, that\u2019s improved to 7.3 percent last month.<\/p>\n
\u201cWe are the fastest-growing economy in Europe,\u201d he added. \u201cBetween 2002 and 2011, we had annual economic growth of 5.2 percent. And we are forecast to be inside the top 10 of the world\u2019s biggest economies by 2023 measured by gross domestic product. The time is right for Turkey, and for Istanbul,\u201d said Arat. He\u2019s also chairman of Capital Partners, a real estate developer operating in Turkey, Kazakhstan and Russia.<\/p>\n
Turkey hosted the Champions League soccer title match in 2005 and two years ago added the season-ending women\u2019s tennis tour finals. It invested in new stadiums and infrastructure in an attempt to land the Olympic Games.<\/p>\n
\u2018Legacy\u2019<\/p>\n
The 2020 bid has the support of 94 percent of the city\u2019s population, half of whom are under the age of 25, Arat said.<\/p>\n
\u201cWe are focusing on our legacy for our young generation,\u201d Arat said. \u201cIt would be a historic moment for the Olympic movement. This region has never had an Olympics before, it\u2019s a new market in a very young part of the world.\u201d<\/p>\n
Since 1994, Istanbul has built 14 Olympic venues, including the 75,000-seat Istanbul Ataturk Olympic Stadium and the multipurpose Sinan Erdem Dome, site of tennis\u2019s WTA Championships and the 2010 World Basketball Championships.<\/p>\n
Istanbul\u2019s total investment — including government infrastructure projects — will be $19.2 billion and would generate 200,000 jobs, Arat said.<\/p>\n
Tokyo has earmarked $4.5 billion for building projects, while Madrid has pledged $1.9 billion.<\/p>\n
Last month, seven of Turkey\u2019s biggest companies said they\u2019d sponsor the 2020 bid in a deal worth $20 million in total.<\/p>\n
Arat didn\u2019t think its proximity to Syria and two bomb attacks earlier this month would discourage IOC members from voting for Istanbul.<\/p>\n
Car Bomb<\/p>\n
A Feb. 11 car-bomb attack near the border with Syria killed 14 people and heightened concern that the civil war there may spill over the border. On Feb. 1, a suicide bomber detonated explosives just inside a back-gate checkpoint at the U.S. Embassy in Ankara, killing a Turkish security guard and the bomber.<\/p>\n
Turkey has supported the Syrian rebels fighting to oust President Bashar al-Assad, who has accused the country of providing them with military support. NATO missile-defense batteries have been deployed at Turkey\u2019s request to reinforce security at its Syrian border.<\/p>\n
\u201cThis is a global issue for the world, it\u2019s not just Istanbul\u2019s or Turkey\u2019s problem,\u201d Arat said. \u201cEverywhere in the world, countries and security forces have to fight with these issues. Turkey is doing its best to help the Syrian people. All governments have to work together to find a solution for those problems. I am confident that our government is working very hard on this.\u201d<\/p>\n
via Istanbul Uses Economy, Youth in Push for Olympic Games – Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"
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