Local Currency
The local currency of Turkey is the Turkish lira (TRY). The lira is denominated in banknotes of 5, 10, 20, 50, 100, and 200 lira, and coins of 1, 5, 10, 25, and 50 kuru_ and 1 lira.
Cost of Living in Turkey vs. UK and USA
The cost of living in Turkey is generally lower than in the UK and the USA. According to Numbeo, the world’s largest database of user-contributed data on living conditions in different cities, the cost of living index for Turkey is 36.71, while that of the UK is 67.28 and that of the USA is 72.56. This means that Turkey is around 45% cheaper than the UK and 50% cheaper than the USA.
Breakdown of Costs in Turkey
Housing
The cost of housing in Turkey varies depending on the location and size of the property. In Istanbul, for example, a one-bedroom apartment in the city center can cost between TRY1,500 and TRY3,000 per month. A larger three-bedroom apartment can cost between TRY3,000 and TRY6,000 per month.
Outside of the city center, the cost of housing is generally lower. A one-bedroom apartment in the suburbs can cost between TRY1,000 and TRY2,000 per month, while a three-bedroom apartment can cost between TRY2,000 and TRY4,000 per month.
Food
The cost of food in Turkey is generally lower than in the UK and the USA. A single person can expect to spend around TRY800 per month on groceries. A couple can expect to spend around TRY1,600 per month, while a family of four can expect to spend around TRY3,200 per month.
Utilities
The cost of utilities in Turkey can vary depending on the size of the property and the usage. Electricity, water, and gas bills can cost around TRY400 per month for a small apartment. Larger homes with more appliances and air conditioning may have higher utility bills, with some homes paying around TRY1,000 per month.
Leisure
The cost of leisure activities in Turkey varies depending on the activity. Movie tickets cost around TRY25 per person, while a meal at a mid-range restaurant can cost around TRY50 per person. A gym membership can cost around TRY150 per month.
Transport
The cost of transportation in Turkey is generally lower than in the UK and the USA. A single fare on the public transportation system costs around TRY3. Taxis are also readily available and can cost around TRY10 for a short trip.
Clothing
The cost of clothing in Turkey is generally lower than in the UK and the USA. A pair of jeans can cost around TRY150, while a t-shirt can cost around TRY50.
Household Goods
The cost of household goods in Turkey is generally similar to that of the UK and the USA. A washing machine can cost around TRY1,500, while a refrigerator can cost around TRY2,500.
Payment Methods in Turkey
The most common forms of payment in Turkey are cash and credit/debit cards. Many businesses accept credit and debit cards, including Visa, Mastercard, and American Express. ATMs are also readily available throughout the country, making it easy to withdraw cash.
In conclusion, the cost of living in Turkey is generally lower than in the UK and the USA. Housing, food, and transportation are cheaper in Turkey, while clothing and household goods are generally similar in cost to those in the UK and the USA. The most common forms of payment in Turkey are cash and credit/debit cards, and ATMs are readily available throughout the country. Overall, Turkey can be an affordable destination for those looking to live or travel in the Middle East.