Two Turkish cities among top 50 emerging worldwide cities

Today's Zaman - Istanbul and Ankara have been listed among the top 50 emerging cities in a recent study by MasterCard Worldwide, making Turkey the only European country other than Russia to be represented with more than one city. According to the Worldwide Centers of Commerce: Emerging Markets Index, which was released on Oct. 22, Istanbul's position in 15th place suggests that Turkey's financial capital "is a formidable center of commerce deserving of attention." Just like Russia, the study noted, Turkey has a large population, which is growing rapidly. Turkey's capital city of Ankara ranked 50th. When it announced the results of its study, MasterCard quoted a recent report by the International Monetary Fund (IMF) that estimated global economic growth will be driven primarily by emerging economies at an unprecedented ratio of 12 to one compared to well-developed economies. Therefore, the study inferred, emerging markets are becoming increasingly important investment and business centers.