0 replies \ @Natalia OP 6 Jan \ on: My Experience of Living in Turkiye under Soaring Inflation 🇹🇷 bitcoin
just listened to SNL, and I realized that I forgot to include the official inflation rate in Turkiye, this is USD to Lira for the past five years.
This is Bitcoin to Lira for the past five years.
But I guess stackers know these numbers are not real, and not really saying what is happening on the ground; a more practical sample I can share is 100-150Lira used to be enough to pay for a simple lunch up till 2021, but now can only buy a cup of latte ( if it's in Istanbul). However, 150 Lira can still get a decent lunch in many other small cities. I lived in istanbul for three years, and now, every time I go back, I feel money just like flying away and way less pleasant when you are around stressed people. ( But hey, things are still way cheaper here compared with many countries, especially the value you get from what you pay. )
And bonus, here is the art of choosing shops or services in Turkiye
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The worst tier is those tailored to foreign tourists - if a shop has English only, staying away is the way.
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The second worst are those tailored to foreigners or high-earning locals, oh these are the real sharks! for example, I used to live in an apartment in the European side of istanbul, and I remember the management fee used to be 700tl/month in 2021, and the fee was 3600tl/ monthly in 2023 on top of many other fees - these modern apartments are such a scam, everything is centralized and has many forced subscriptions.
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The good but average ones are normally in Turkish only, these are everywhere once you are out of tourist areas.
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The Great ones are those loved by locals - simply do some homework or ask around. Generally, there are old shops around the old town, and many of them are small family businesses, great quality but amazing price, I often think are they doing charity?
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The REAl gem: the quiet craftsmen and makers who spent all their life crafting for one thing! Not only it's reasonably priced ( YES! Surprised! ) and such delightful experiences, not rushy, no sales tactic, no fancy packaging, but damn good quality ( once you tasted it, you can't go back ); it's quite hard to find tho, my secret solution is I do my researches from Turkish sources, ask around locals and travel all the way to meet them.