Istanbul's economy has spiked and they are using this to their advantage. They are using this to persuade Olympic officials to give them the honor of hosting the 2020 youth Olympics. Istanbul is biding against Madrid and Tokyo. Keep in mind that this is one of the worlds largest events.

Istanbul, which failed in four previous attempts to stage the Olympics, is counting on its fast-growing economy and young population to land the 2020 Games.

The city, which bid to host the 2000, 2004, 2008 and 2012 Olympics, is competing with Madridand Tokyo to organize the world’s biggest sports event. The International Olympic Committeewill select the host city in Buenos Aires in September.

“This time, it’s totally different,” Hasan Arat, the chairman of the Istanbul 2020 campaign, said in an interview in London yesterday. “This fifth bid is a new bid for a new Turkey.”

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