IPA survey reveals: What is the minimum wage expectation in Istanbul?

The Istanbul Planning Agency (IPA) Istanbul Barometer November 2024 data has been released.

While 44.4 percent of participants stated that economic problems were Istanbul's agenda in November, discussions regarding the closure of municipal kindergartens ranked second with 14.3 percent, and the transportation ban and restrictions on the International Day for the Elimination of Violence against Women ranked third with 14.1 percent.

TRAFFIC IS ISTANBUL'S BIGGEST PROBLEM

Traffic, the economy, and refugees are seen as Istanbul's top three problems. According to the participants, Istanbul's top three problems were determined as traffic at 60.4 percent, economic problems at 55 percent, and refugees at 44 percent.

DECLINE IN THOSE PAYING FULL CREDIT CARD BALANCE

41.2 percent of credit card users stated that they could pay their full monthly credit card debt, while 34.8 percent stated they could pay the minimum amount. While 7.2 percent stated they could pay an amount between the minimum and the full debt, and 8.8 percent stated they could pay less than the minimum, 8 percent stated they could not pay their credit card debt at all. Those who could pay their full credit card balance were 41.7 percent last month. Those who could not pay their credit card debt at all also decreased from 9.9 percent to 8 percent.

THOSE WHO SAVE MONEY INCREASED

In November, 29.4 percent of participants stated that they could not make some payments and went into debt, 11.5 percent stated they were actually struggling to make ends meet, and 39.4 percent stated they were barely getting by. While 18.3 percent of participants stated in October that they could make ends meet and also put money aside, this rate was 19.8 percent in November. 60.3 percent of participants who stated they were saving money indicated they bought gold, 18.7 percent bought stocks, and 16.9 percent bought foreign currency.

TENANTS STARTING TO STRUGGLE

11.6 percent of tenants stated that they could not pay their full rent last month. 53.3 percent of participants stated that they were deprived of the food they preferred due to financial insufficiency during November.

44.5 PERCENT OF PARTICIPANTS REDUCED THEIR PORTIONS

16.3 percent of participants stated that there were times they could not find anything to eat at home due to financial insufficiency. 53.3 percent of participants stated that they were deprived of the food they preferred due to financial insufficiency during November.

THOSE WHO DO NOT FIND CRYPTOCURRENCIES SAFE ARE IN THE MAJORITY

63.5 percent of participants stated that they did not see cryptocurrencies as a safe investment tool, 8.8 percent found them safe, 11.2 percent found them partially safe, and 16.5 percent stated they had no opinion.

CONFIDENCE IN THE ECONOMY INCREASED, ALBEIT SLOWLY

While 18.7 percent of participants stated in November that the Turkish economy would improve, this rate was 17.7 percent last month. 39.2 percent stated they thought it would not change, and 42.1 percent stated they thought the economy would worsen.

In November, 28.4 percent of participants stated that their own economy would improve, while 45.6 percent stated it would not change, and 26 percent stated it would worsen.

MINIMUM WAGE EXPECTATION IN ISTANBUL

Participants stated that the minimum wage in 2025 should be 33,406 TL.

While 69.9 percent of participants think that unemployment, 78.9 percent think that foreign exchange rates, and 69.7 percent think that inflation will increase in the next 6 months, 35.2 percent stated they think growth will decrease, and 41 percent stated they think investments will decrease.