Is Turkey Ready to Become the Dubai of Europe? Not Yet.

Istanbul hopes to snatch some of the jobs and wealth that come with hosting a global financial center -- a good dream to have when established centers such as London face reputational damage and regulatory uncertainty. But the city has a mountain to climb.

Turkey’s economic performance has been impressive in recent years, as detailed in an article in this month’s Bloomberg Markets. The country has a sizable domestic market, a population (about 75 million) that’s young, and plenty of catching-up to do in financial services penetration. All of that spells growth.