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Feb 5, 2023

Istanbul New Canal: Its Importance and Effects on the Region

Recently, the topic of the new Istanbul Canal and its importance to the region, the global economy, the Turkish real estate market and international trade has spread recently. What is the importance of this canal? What is its relationship to the Bosphorus Strait? Will it really work to create a major change in international trade and the real estate market in Turkey and Istanbul in particular? We will answer all these questions in this article.


The importance of the Istanbul Canal:

The great importance of the Istanbul Canal comes from the fact that it overlooks the famous Bosphorus Strait, which is a natural waterway, but it witnesses a great movement of trade and maritime navigation, as nearly forty-three thousand ships cross the Bosphorus Strait, and the increasing number of these ships that cross it Also, the increase in its volumes causes pressure and a threat to the Bosphorus Strait, as experts and observers note the increasing danger of crossing the strait every year due to strong currents, the increase of sharp turns and the movement of maritime transport through ferries that make the transport process more dangerous through the waterways in the Strait. The Bosphorus and from here came the idea of ​​the Istanbul Canal project, the main objective of which was to work to ensure increased security of maritime transport across the Bosphorus Strait and also work to reduce the burdens caused by the increased traffic in it and to ensure increased safety of maritime navigation in the Bosphorus Strait.

When comparisons and studies were made by those responsible for maritime transport in the Bosphorus, it was noted that the expected and hypothetical security and transport scenarios are usually safer when conducting maritime transport through the Istanbul Canal compared to maritime transport through the Bosphorus Strait and with the opening of the Istanbul Canal today The capacity or capacity that you are expected to work in ranges from allowing tanker ships of two hundred and seventy-five meters in length and forty-eight meters in width, as well as container ships with lengths of up to three hundred and forty-nine meters meters in width capable of passing through the Istanbul Canal.


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The effects of the Istanbul Canal on the region:

The Istanbul Canal project, since the beginning of talking about it, has been a preoccupation of the Turkish government, because it believes that such a huge project will bring many benefits and add new advantages not only to Turkey and the city of Istanbul, but to the region as a whole, as it can be said that during the entire period of completion of this The project was the most important and largest event in Istanbul, and everyone is eagerly awaiting its opening. It is expected that this exceptional project will return with many advantages, the most important of which is to make navigation and maritime transport across the Bosphorus strait safer, more lively and easier, which will be reflected Positively and significantly at the level of trade and commercial activity not only in Turkey but also global trade, especially in the neighboring countries in Europe, because many of these countries benefit from the sea ports in Turkey as the only option to be able to reach the rest of the world's ports, which will raise The value of the city of Istanbul greatly as an intermediate point for the most important trade routes in the world, in addition to the increasing movement of transport and the influx of more people will raise the chances of obtaining work and investment, both for people Residents within the Turkish territory or foreign investors who will find in investing in such a unique commercial area a golden opportunity to achieve investment profits.

Which means not only a recovery in the Turkish economy, specifically in Istanbul, but also a recovery for all neighboring economies thanks to the revitalization of trade and the influx of more foreign capital.


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