The Istanbul Canal, Turkey's Economic Hope Or Doom?

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Istanbul Canal

Turkey’s capital, Istanbul, started construction of the istanbul canal project in 2021. It's going to be a 50km canal that connects the Black Sea with the Marmara Sea. that's shorter than the 82 kilometer Panama Canal. But the Panama Canal is actually solving a problem and offering a shorter route, between the atlantic and the pacific ocean. The Istanbul Canal, on the other hand, would not offer the same benefits as that of the Panama canal. Because of the fact that the bosphorus strait already exists.

So why is the Turkish President Recep Tayyip Erdogan so interested in building this new canal? The official answer is to increase shipping capacity in the region and reduce waiting times for ships. The president has stated that the number of ships at sea will be increasing significantly in the next few decades, rising from 38,000 ships today to 50,000. These changes represent a major reversal following the current trend, where the number of ships is declining by an average of 5% over time. Despite that the canal would be practical for ships, most people are against it due to its negative impacts on both people in Turkey and around the world. There are also concerns with Erdogan's motivation.  

Next to the planned Istanbul canal is the already existing Bosphorus Canal, which does not bring any revenue to Turkey due to a treaty dating back to 1936. Ships are allowed passage through the Bosphorus canal and do not need to pay anything for it. This is unfortunate for Turkey because more ships pass through the Bosphorus each year than both the Suez and Panama canals combined. In addition, it's the only access to the Black Sea from Europe, and Russia's only way of entering into Mediterranean waters. Proposed by President Erdogan, the canal can possibily turn things around for Turkey and the economy. It's going to be a big project with huge benefits for society, leading to better living conditions and more jobs.  

Although Erdogan is excited about the financial benefits that this project will generate. However, residents of Turkey are not as supportive because they do not think it will be an environmentally friendly project. One of the most important aspects of this plan is that it will impact 40% Istanbul’s water supply and could have severe consequences on the groundwater levels.  

The construction of this canal would displace tens of thousands of Istanbul citizens, destroy hundreds of thousands of trees and turn part of the city into an island.  

And if building a 50-kilometer long canal was not enough, Turkey’s President Erdogan also wants to include a high-speed railway into the megaproject. While the exact price is not known, estimates have put the cost between $50 and $65 billion dollars.

Based on the environmental damage and costs of such a large project, it seems unlikely that the Istanbul Canal project will proceed. There are also significant international protests against it.

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