Turkey

In 2023, retail volume sales of tea experienced steady growth, despite another year of strong retail price inflation. Turkey is a tea producing country with the highest per capita consumption of black tea in the world, and this has sustained…

Turkey has seen a very strong recovery from the slump in inbound tourist numbers caused by the Coronavirus (COVID-19) pandemic and related bans and restrictions on consumer and border movements. In 2021 and 2022, the numbers of inbound trips…

Turkey implemented an economic programme in May 2023 to help navigate the delicate equilibrium between domestic demand and export priorities, as articulated by the financial authorities of Turkey. Practically, this indicates the policies set forth…

The year 2023 witnessed a decline in the number of consumers obtaining personal consumer credit. As Inflation and the cost of living remained high, consumers relied on cash withdrawals from credit cards when they needed small sums of money. This…

Consumers in Turkey have become highly price-sensitive, given the steep inflation rate and the decrease in tourism, as the country traditionally benefited from tourist arrivals from both Ukraine and Russia, with this disrupted by the war in Ukraine.…