The $760-billion economy is seen to have have narrowly avoided a contraction in 2020 due to a burst of cheap lending in the first half of the year that masked fallout from the coronavirus, which has surged again in recent months. …

The economy of Turkey is an emerging market economy as defined by the International Monetary Fund.

According to the CIA world Factbook, Turkey is considered a newly industrialized country (NIC) with huge potential. Currently, Turkey is ranked as the 15th largest economy in the world by the World Bank. Between 2000 and 2007, total trade volumes rose by 19.2% annually allowing great economic expansion.

The key industries in Turkey are textiles, iron and steel, chemicals, cement, food processing, motor vehicles, construction, glass and ceramics, and mining.

Despite the influx of millions of Syrian refugees that exacerbated poverty, Turkey has made significant progress in reducing poverty. In the same period, incidence of extreme poverty declined from 13% to 3% of the population. …

Factory farm turkeys are so cheap not just because they live in close quarters, but also because of their diet. They are almost exclusively fed a diet of corn and soybeans to bulk them up quickly – far different from turkeys’ natural diet of nuts, seeds, plants, worms and other crawly things.

Turkey was revealed to be Europe’s second most affordable country to live in by CEOWORLD Magazine. According to a ranking that measures the cost of living, rent, groceries, eating out and purchasing power, Turkey is the 102nd cheapest of 132 countries worldwide.

Traveling in Turkey is far less expensive than nearby European countries, but it offers many of the same comforts and luxuries. Istanbul, in particular, is comparable in price to elsewhere in Europe. Food is quite affordable though, even in nicer sit down restaurants.

A single person estimated monthly costs are 399$ (3,459TL) without rent. Cost of living in Turkey is, on average, 54.86% lower than in United States….Cost of Living in Turkey.

Shopping & Bargaining in Turkey

1. Know the Market.
2. Don’t show enthusiasm for the item you want.
3. Decide what you think a piece is worth to you.
4. Let the shopkeeper quote the first price.
5. If you buy several items, get a discount.
6. Don’t haggle over pennies.
7. Don’t be afraid to walk away…

“Turkey is now the cheapest place in the world for shopping,” said Orhan, 22, who was holding a place in the line outside Louis Vuitton for a Chinese couple shopping elsewhere, and who didn’t want to give his last name.

An average meal at a modest cafe will cost about 20-25 TL with the drinks. You should figure about 50-70 USD/person/day, including lunch and dinner, transportation, small souvenir purchases, museum entrance fees, incidentals, etc.