Abstract

The aim of this study is to determine the cluster of homogenous financial centers by using hierarchical clustering analysis, and to define in which same cluster Istanbul city takes part with other financial centers. Thirty eight countries financial center and sixteen variables were included in the analysis. For analyzing data, Ward’s method of hierarchical clustering analysis technique was applied and a Squared Euclidian distance measure was used. According to the analysis results, countries were grouped in four different clusters. Sydney, Vienna, Brussels, Toronto, Helsinki, Paris, Frankfurt, Tokyo, Amsterdam, Madrid, Stockholm, Zurich, London and New York were gathered in Cluster 1. Rio De Janerio, Prague, Shanghai, Johannesburg, Milan, Kuala Lumpur, Warsaw, Lisbon, Moscow, Bangkok, Athens, Tel Aviv, Seoul and Almaty were gathered in Cluster 2, and Istanbul found its place in Cluster 3 sharing with Mexico city, New Delhi, Jakarta, Cairo and Bogota. Dublin, Doha, Singapore and Dubai were gathered in Cluster 4. The emprical results clearly showed that Istanbul city has not homogenized with the international/global financial centers yet. Keywords: Service marketing mixes, Shopping behavior, Convenience store, Foreign backpackers

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