The Role of Developed Infrastructure in the Formation of Financial Centers

Abstract

The role of developed infrastructure in the formation of financial centers is discussed in the article. Cities that have become financial centers differ from others in several main criteria. One of the most important of them is the availability of the appropriate infrastructure. This requires large-scale and high-quality construction of communication and transport systems, administrative buildings, residential houses, hotels, health care facilities, education, recreation, entertainment and other public facilities, as well as numerous specialized financial, stock exchange and banking institutions. In this direction, the city of Istanbul is currently developing very strongly, and after the completion of the construction project of one of the largest financial centers in the world, it is going to compete with the financial centers of New York and London. Despite the incredibly rapid development of the financial centers of Asia and the Middle East, they are still undisputed leaders. The financial center of Chicago is distinguished by a developed infrastructure, which has maintained leading positions in the world for more than a century in the conditions of the greatest competition. In addition, it is necessary to note that a unique construction and architectural project, implemented in Chicago at the end of the 19th century, started the introduction of completely new technologies that are successfully used in the field of construction even today.