No debt crisis on turkish riviera

Glossy white yachts line its glittery Marina club and celebrities such as Catherine Zeta-Jones and Michael Douglas traipse the cobblestone sidewalks around downtown. You'd think it was Mykonos or St. Tropez -- but it's neither. With multimillion-dollar estates being snapped up right and left from Middle Eastern billionaires and Saudi royalty, Bodrum is the epicenter of a Turkish Riviera enjoying the perks of a booming economy a lot farther from Greece than the 20-minute hydrofoil ride would suggest.

More on Top 1% Chefs Go Beyond Basic BarbecueGlobal Pool Parties Are Big BusinessChefs Go Casual, Starting With Small Plates With a year-to-year GDP that's expanded 11% -- better than China and Argentina -- Turkey has a booming economy helping support bold investments in resort destinations such as Bodrum. The property market is benefiting from an influx of second-home buyers in addition to foreign investment and real estate developments such as a luxury shopping center that will bring retailers including Louis Vuitton to town, not to mention the five-star resorts opening this summer.

Source: TheStreet.com