Financial contagion, the record fall of the Turkish lira, growing debt, and high inflation. Turkey was already dealing with a crippling economy on multiple fronts. Then came the devastating pandemic. And now the horrible war in Europe. While tons of the country’s wheat needs depend on imports from Ukraine and Russia, Turkey’s strongest economic sector, the tourism industry, relies in grand parts on Ukrainian and Russian visitors. Both, the threat of food shortages and a weakened start to the tourism season topple the Turkish economy even deeper into the abyss.

The price of the infamous Turkish bagel, Simit, doubled within a year and bread became a symbol of the incredibly fast-rising living costs in Turkey. While it is still very affordable to visitors, locals struggle to cover everyday costs and many have to make cuts here and there. The inflation rate in April 2022 was at 69.97%, with the food and housing sector leading the way. Electricity bills tripled, and rent increased by a minimum of 35% and 95.5% (!) on average. Some resort to unusual ways and rent out their city apartments while they return to their villages - either because they cannot afford to live in the city anymore or to make an additional income.

Yet again, like with most crises in Turkey, its people get on with their lives. There seems to be an “it is what it is”-mentality.