Istanbul is Europe's most populous city (the world's 4th largest city proper and 19th largest urban area) and Turkey's cultural and financial center. The city of Istanbul has a population of 11,372,613 residents according to the latest count as of 2007. Currently Istanbul has 54 municipalities, and stretches over an area of about 65 miles (approximately 100 km).

It is located on the Bosphorus Strait, and encompasses the natural harbor known as the Golden Horn, in the northwest of the country. It extends both on the European (Thrace) and on the Asian (Anatolia) side of the Bosphorus, and is thereby the only metropolis in the world which is situated on two continents. In its long history, Istanbul served as the capital city of the Roman Empire (330-395), the Byzantine Empire (395-1204 and 1261-1453), the Latin Empire (1204-1261), and the Ottoman Empire (1453-1922). The city was chosen as joint European Capital of Culture for 2010. The historic areas of Istanbul were added to the UNESCO World Heritage List in 1985 .

In the last decades, numerous tall structures were built around the city to accommodate a rapid growth in population. Surrounding towns were absorbed into Istanbul as the city rapidly expanded outwards. The tallest highrise office and residential buildings are mostly located in the northern areas of the European side, and especially in the business and shopping districts of Levent, Maslak, and Etiler which are situated between the Bosphorus Bridge and Fatih Sultan Mehmet Bridge . Levent and Etiler also have numerous upmarket shopping malls, like Kanyon, Metrocity, Akmerkez, Mayadrom and Mayadrom Uptown. The headquarters of Turkey's largest companies and banks are also located in this area.

Starting from the second half of the 20th century, the Asian side of Istanbul, which was originally a tranquil place full of seaside summer residences and elegant chalet mansions surrounded by lush and vast umbrella pine gardens, experienced a massive urban growth. The construction of the long, wide and elegant Bagdat Avenue, with its rows of upscale shops and restaurants, contributed much to the initial expansion in the area. The fact that these areas were largely empty until the 1960s also provided the chance for developing better infrastructure and a tidier urban planning when compared with most other residential areas in the city. But the real expansion of the Asian side came with the opening of Ankara Asfalti , the Asian extension of the E5 highway, which is located to the north of Bagdat Avenue, parallel to the railway line. Another important factor in the recent growth of the Asian side of the city was migration from Anatolia. Today, more than 1/3 of the city's population live in the Asian side of Istanbul.

Istanbul has always been the "financial capital" of Turkey, even after Ankara became the new political capital in 1923. The opening of specific markets in the city during the 1980s further strengthened this status. Inaugurated at the beginning of 1986, the Istanbul Stock Exchange (ISE) is the sole securities market of Turkey, established to provide trading in equities, right coupons, Government bonds, Treasury bills, revenue sharing certificates, bonds issued by the Privatization Administration and corporate bonds, and to carry out overnight transactions. In 1993 the ISE decided on gold market liberalization, and in 1995 the Istanbul Gold Exchange was established, which ended the gold bullion imports monopoly of the Turkish Central Bank and transferred it to the private sector members of the gold exchange.

Levent and Maslak financial districts are home to the headquarters of Turkey's largest companies and banks, as well as the local headquarters of global giants of the financial sector such as Citibank, Merrill Lynch, J. P. Morgan, HSBC, ABN Amro, Fortis, ING Bank, BNP Paribas, Société Générale, Banca di Roma, UniCredit, WestLB, Deutsche Bank, Commerzbank, and many others. Both Levent and Maslak have a constantly growing and changing dynamic skyline with several new skyscraper projects being proposed, approved and initiated every year.

Istanbul is the "industrial center" of Turkey. It employs approximately 20% of Turkey's industrial labor and contributes 38% of Turkey's industrial workspace. In addition, the city generates 55% of Turkey's trade and 45% of the country's wholesale trade, and generates 21.2% of Turkey's gross national product . Istanbul contributes 40% of all taxes collected in Turkey and produces 27.5% of Turkey's national product.

Many of Turkey's major manufacturing plants are located in the city. Istanbul and its surrounding province produce cotton, fruit, olive oil, silk, and tobacco. Food processing, textile production, oil products, rubber, metal ware, leather, chemicals, electronics, glass, machinery, paper and paper products, and alcoholic drinks are among the city's major industrial products. The city also has plants that assemble automobiles and trucks.

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