If you are thinking about moving to a foreign country, there are lots of things to consider – which country will have the best career opportunities for you, what the social climate is like, and fair housing prices. Turkey is one of many countries that are finding ways to make this crazy process more manageable for people today.
History of Turkey
Turkey occupies a strategically important location on the eastern Mediterranean, bordering Armenia, Iran, Syria, and Iraq. The area has been settled by various civilizations for thousands of years. In 1984, the Turkish Republic was founded after the collapse of the Ottoman Empire.
The first Turkish settlements appeared in central Asia Minor around 9,000 BC. By 3000 BC, the first cities had grown up along the eastern coast of Anatolia. The country’s name derives from the Turkic word Türk or Türük, meaning “the people”. In medieval times, Anatolia was divided between the Byzantine and Persian empires. Turkey gained its independence from Britain in 1923.
Today, Turkey is a major economic and political power in southeastern Europe. It has a population of over 80 million people and is considered to be one of the most secular countries in the world. The cost of living in Turkey varies significantly depending on where you live, but it can generally be expensive compared to other Western countries.
Read also: How to Get Turkey Citizenship by Investment
Benefits of Living in Turkey
Low Cost of Living: It is compared to other Western countries, the cost of living in Turkey is very low. Food, housing, and transportation are all relatively affordable.
Quality of Life: With a high quality of life index and a great healthcare system, it’s no wonder people move to Turkey for a better quality of life.
Peaceful Surroundings: Living in a peaceful country such as Turkey can be calming and reassuring after living in busy cities and environments overseas.
Cultural Richness: The rich culture and history of Turkey make it an interesting place to live and explore. There’s always something new to see or do!
Connections to the Rest of the World: Being close to many other countries makes it easy for ex-pats to travel and explore different parts of the world.
Turkey’s Gross Domestic Product
Turkey’s Gross Domestic Product (GDP) is expected to reach $2.27 trillion by the end of 2022, increasing by 5.8% annually, according to a report released by the World Bank on February 20th. Despite the global economic slowdown, Turkey’s economic growth prospects remain strong owing to its large population and well-developed infrastructure.
In terms of industry, tourism continues to be the key driver of Turkey’s economy with revenues forecasted to reach $128.9 billion by 2022. The country also benefits from strong exports in the mining and manufacturing sectors which are expected to account for 17% and 19% of the GDP respectively.
Despite recent political instability stemming from a failed coup in July 2016, the fundamentals of the Turkish economy remain strong. Inflation is currently below the government’s target rate of 4%, while real wages have increased at an annual rate of 6%. Moreover, foreign investment is still flowing into the country despite political risks and this will support growth in the coming years.
Different Costs of Living in Turkey
Cost of Accommodation
Turkey is a country where the cost of living is relatively affordable. Rent for a one-bedroom apartment can be as low as $200 per month, while food and transportation costs are also lower than in many Western countries. The average monthly wage in Turkey is $450, which means that a person can live reasonably well on a budget.
However, some expenses are more expensive than in other parts of Europe or the United States. In addition to rent, utilities and transportation costs can be high in Turkey. Additionally, educational expenses may be higher than in other parts of the world.
Cost of Feeding
In Turkey, food is relatively affordable when compared to other Western countries. The cost of feeding a family of four can be as low as $10 per week. However, there are a few things to keep in mind if you want to save money on food:
- Grocery shopping is not as convenient as it is in western countries. Therefore, it’s important to plan your meals and buy ingredients that you can store in bulk.
- Many Turkish restaurants don’t serve alcohol, so you’ll have to either bring your own or purchase it at a nearby liquor store.
- Be sure to factor in the cost of transportation when calculating your food budget. Grocery stores and restaurants in larger cities tend to be more expensive than those in smaller towns or villages.
Cost of Transportation
The cost of living in Turkey can be expensive for someone who is not used to paying such high prices. The average monthly wage in Turkey is only $580, which makes it one of the lowest-paying countries in Europe. In addition, transportation costs are high, making it difficult to save money. A gallon of gasoline can cost as much as $8 in Istanbul, and a taxi ride can cost $25. Transportation costs also add up when renting a car or using public transportation.
The average monthly rent for an apartment in Istanbul is $350, and the cost of groceries is high compared to other European countries. A person who wants to live a comfortable life in Turkey will need to make a substantial income.
Cost of Entertainment
Turkish citizens enjoy a wide range of entertainment options, from cinemas and theatres to concerts and nightclubs. Inexpensive tickets are often available, and most venues are open late into the night. Entertainment costs vary significantly depending on where you live in Turkey. In major cities such as Istanbul and Ankara, prices for cinema tickets, restaurants, and nightclubs can be high. In contrast, rural areas tend to be cheaper, making them more suitable for tourists seeking budget-friendly activities.
Cost of Healthcare
Healthcare in Turkey is not as expensive as some people may think. The cost of healthcare can be relatively low when compared to other Western countries. This is due to several factors, including the country’s universal health care system and competition among providers.
The average healthcare bill for a family of four in Turkey is about $370 per month. This is one of the lowest costs in Europe and lower than even some developing countries. Coverage under the country’s universal health care system means that all residents are covered, no matter how wealthy or poor they are.
Turkey is a beautiful country with an incredibly rich culture and history. However, the cost of living can be quite high, especially if you are looking to live in the capital city Ankara or one of the major metropolitan areas.