Istanbul Canal, one of Turkey’s giant projects on the way to the 2023 goal, will print money when it opens. A total of $ 8 billion in revenue from the project will go into the Treasury’s coffers. Thanks to the Canal, 1.5 million people will be able to work.
Both the ability to transport loads that make up industrial raw materials in large quantities at a time, as well as the cost of transport 3.5 times cheaper than the railway, 7 times cheaper than the land route and 22 times cheaper than the air route, increase the importance of sea transportation both in the world and in Turkey. The world’s maritime trade volume, which was 500 million tons in 1950, has increased 18-fold and reached 9 billion tons today.
When the canal is completed, it will be redistributed in favor of Turkey in the region in terms of having a new international waterway. The crazy project, which is expected to house 150-160 ships a day, will serve ship traffic four times its size compared to the Panama Canal. From the Istanbul Canal project, Montreux by-pass will enter our coffers 8 billion dollars a year. While an average of 40 ships use the Panama Canal each day, the average annual return is also up to $ 1.5 billion. In the Suez Canal, one of the similar transit routes, the annual profit is $ 4 billion, given that 54 ships pass by a day. ( Benefits of Istanbul Canal )
After the completion of the project, there will be a new job opportunity in the region of 1.5 million people. Investments are expected to increase significantly thanks to the Canal, which will also subpoena the Gulf Capital. It is projected that 50 million foreign visitors will come to Istanbul annually, resulting in annual tourism revenues of 20-30 billion dollars. The crazy project within the framework of the 2023 vision is intended to generate $ 100 billion in the first 5 years, together with all revenue items. Together with the Istanbul Canal project and its integrated facilities, about 10,000 in the preparation-construction phase of the project, in the operation phase, in the canal and other enterprises (ports, logistics center, Marina, etc.) more than 10,000 people have jobs and bring bread home is one of the biggest goals of the project. ( Effect of Panama Canal Expansion on Business Opportunities )