The FINANCIAL — Istanbul Shopping Fest will host millions of shoppers from March 18 to April 26, 2011. Great sales of up to 30% are promised by organizers and partner stores.
Taksim, Nişantaşı, Şişli, Bakırköy, Fatih, Bahariye, Bağdat Avenues, and 94 modern shopping malls throughout the city are inviting people around the world to come and just shop, shop, shop.
Expecting a huge number of visitors, organizers have decided to keep their doors open until 02:00 am.
Different state and private organizations, including the Ministry of Culture and Tourism, the Turkish Exporters Assembly, Turkish Airlines and the Prime Minister’s Investment Agency have joined forces to make an unforgettable event.
The FINANCIAL travelled to Turkey last week to see what is going on in Istanbul in preparation of the event.
Historically Istanbul has always been the centre of the country’s economic life because of its location as an international junction of land and sea trade routes. It was a top choice for shoppers for more than 1,500 years and today Istanbul is still attracting millions of tourists from around the world.
Turkey is the number one trade partner of Georgia in terms of exports and imports, and had significant investments in that country, Ahmet Davutoglu, Turkey’s Foreign Minister said recently.
Preparations are underway in every corner of the city. Organizers say they have invested up to 50 million TRL in event arrangement, including concerts, shows, parties, competitions, fashion shows and parades.
“Istanbul Shopping Fest will make Istanbul the World Centre of Shopping,” said Hakan Kodal, Shopping Center Investors Association (AYD) President. It is estimated that consumers will spend about 1.8 billion USD during the fest.
“Last year total spending of foreign shoppers was 3 billion USD. The aim is to increase this number in the next twelve years, so we expect this number to reach 4 billion USD in the next 10 years,” Kodal said.
“There are 94 shopping centres in Istanbul and we have a lot of them participating in this event. Not just shopping centers are involved in our fest, but some of the major streets will also participate. We will have a large carnival opening with magicians, shows, entertainers, concerts in the streets and in shopping centres,” Kodal said.
“There has already been significant increase of reservations on flights to Istanbul,” Dr. Temel Kotil, President and CEO of Turkish Airlines told us. The airline is the main sponsor of the fest.
Dr. Kotil says what’s most important is that millions of tourists will be able to see Istanbul. In this way Istanbul might become a big brand.
“We have special discounts being offered to shoppers,” Kotil said.
In 2011 Turkish Airlines will add 14 new international destinations to its network, which currently consists of 41 locations domestically and 133 internationally.
“We continue our efforts to make Istanbul, which is already a natural transfer point, a favoured transit location. Turkish Airlines, which carried 30 million passengers in 2010, exhibited great progress. Our aim is to reach 35 million in 2011,” Dr. Kotil said.
Mr Kotil promises to be an active shopper during the fest. “I will go there with my wife,” he said.
Istanbul Shopping Fest will include hundreds of local and foreign brands, and traditional shopping spots like the Grand Bazaar and the Spice Bazaar. İstanbul Cevahir, one of Turkey’s most entertaining shopping centres, is offering its visitors an optimal shopping experience with its 345 shops over 6 floors. Cevahir is also inviting people to the Shopping Fest.
“The purpose of the shopping fest is to position Istanbul globally as a capital of shopping and fun. Last year in 2010 Istanbul was a capital of Europe Culture and afterwards this event will emphasize the position of Istanbul around the world. Istanbul is expecting an increase in sales during this period,” M. Nebi Onder, General Manager of Boyner shop said.
Discussion about this post