Turkey’s Economic Crisis: Can it be stopped?

► Subscribe: @uptin Turkey's inflation recently hit 75%. Breakfast for two went from 150 Turkish Lira a few years ago, to 1,300 Lira. So what's happening and can it be stopped?

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[adamsjunk]

I just came back holiday from Türkiye. I have been there many times. Turkey is not a cheap country anymore. I was asked to pay £15 for a pint in Izmir airport. I paid nearly £5 for a bottle of beer in a cafe..Türkiye is more expensive than Greece and Spain at the moment. This never happened before… crazy!!!

[michaellucas]

A few years back, Turkey was an inexpensive holiday destination, but it sure isn't now!

[Thomas_dan]

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[eb]

Yea, Istanbul used to be cheap but not anymore. You would have to go to a less touristic city.

[deadeye]

Ive been going to Turkey every year for about 10 years i can no longer justify going its absolute madness

[bugged]

I had a layover at Istanbul on the way to Switzerland and I found Istanbul obscenely priced even when compared to Switzerland. Not visiting anytime soon.

[MrG]

If inflation stays at this rate, there will not be any tourists at all by next year.

[NhanNguyen-stgb]

Yet they still voted for the guy that created the whole mess

[Cristian_M_]

To obtain financial freedom, one must either be a business owner, an investor or both, generating passive income particularly weekly or monthly basis. That’s the key to living financially stable..

[alexf]

I was in Istanbul earlier this year and saw prices rising to an extent that tourism could be in trouble in the coming year. (I wouldn't advise friends to visit right now). You rightly pointed out that the dollar pricing isn't spared this inflation, i.e. It's not simply a weak currency. As my tour guide pointed out this is pretty common in Turkiye and invariably the fault of poor fiscal management by the government.

[anwarow_]

I have been Turkey for almost 10 years, i came there when $1=1.75₺.

[Marcho]

You know their currency and financials are really in deep trouble when you turn up to a money changer and they give you the *actual* market rate when changing your £ and $ to Lira. Shows that they are absolutely desperate to offload as much of their own currency in exchange for more stable currencies.

[onurerdogan]

argentina warned us.. we didnt listen!

[neilrowe]

I'm currently on holiday in Turkey and you can definitely see how demoralised the locals are. The country used to be extremely good value, but can say that period is over! Have paid £22 for 3 small 33cl beers in the local bars. Sad, as i loved holidaying here, but i think a lot of people will stop comming in the future.

[geoms]

Inflation has been high for years, they still vote with intelligent people....I think they vote with their hearts, not their brains.

[yogitTD]

This economic crisis should be taught in Universities as “What happens when a country is run by one person who has all the authority and no responsibility” The people deserve this because they voted yes to this one of a kind government system.

[ruy_u]

Went to turkey 3 weeks ago. I'd say I wouldn't recommend anyone to visit there. Sure it's amazing but the prices were absolutely insane.

[Zainkhan]

I love Türkiye and have frequently visited Istanbul over the last 5 years but the current inflation has made it very tough to be a tourist there. Even spending in Canadian 💲doesn't get you very far. Sad but true.

[TheHHIPPO]

Things are out of control. Yes, inflation is high, but I think businesses are also taking advantage of the situation. Also, a new trend with restraunts is that they add a service charge on your bill (which is as far as i know illegal) but an example of how they take advantage.

[serraios]

Erdogan is a genius economist.
In 2014, 1 US dollar was 2 lira. In 2024 1 US dollar is 32 lira.
😂