Türkiye's middle class struggles amidst inflation, stagnant wages

**This is a 60-seconds sample of the video. For the full version, please contact us.**

Türkiye's middle class struggles amidst inflation, stagnant wages

STORY: Türkiye's middle class struggles amidst inflation, stagnant wages DATELINE: Dec. 11, 2022 LENGTH: 00:01:31 LOCATION: Ankara CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of street view in Türkiye 2. SOUNDBITE 1 (Turkish): ILKER YAGCI, Turkish banker 3. various of stores in Türkiye 4. SOUNDBITE 2 (Turkish): KOKSAL KUTUKALIOGLU, Former private company owner in Türkiye STORYLINE: The Turkish middle class may also be among those affected by the country's challenging economic conditions. Many are struggling to make ends meet amid high inflation, stagnant wages, and declining purchasing power. Shopping habits have changed, with fewer people dining at restaurants, going for weekend family outings, or buying cars or home appliances merely for an upgrade. SOUNDBITE 1 (Turkish): ILKER YAGCI, Turkish banker "There's no such thing left as the middle class anymore. Wages have eroded against the high cost of living. Türkiye has turned into a country of minimum wage earners. As the Turkish economy is deeply li

  • Product Code
  • ILEA001075993
  • Registered date
  • 2022/12/11 00:00:00
  • Credit
  • Xinhua / Kyodo News Images
  • Media source
  • Xinhua News Agency.All Rights Reserved
  • Media size
  • 1920 × 1080 pixel
  • Deployment size
  • 49.08(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

    Millions head to hometowns in Bangladesh to celebrate Eid al-Adha

    STORY: Millions head to hometowns in Bangladesh to celebrate Eid al-Adha SHOOTING TIME: June 13, 2024 DATELINE: June 14, 2024 LENGTH: 00:00:35 LOCATION: Dhaka CATEGORY: SOCIETY SHOTLIST: 1. various of people at a railway station in Dhaka STORYLINE: With Eid al-Adha just around the corner, millions of Bangladeshis are packing bus and train stations and airports as they head to their hometowns to celebrate the festival of animal sacrifice and enjoy family reunion. In Dhaka, long-distance bus stations, ferry terminals and train stations were seen overflowing with hundreds of thousands of home-bound passengers after work hours on Thursday, the last workday of the week before the Eid holidays. While passengers crowded ferry, train and bus terminals, other city residents who had cars or hired vehicles were making their last-minute shopping and business transactions before their long road trip home. Bangladeshi Muslims will celebrate Eid al-Adha on June 17 with the spirit of sacrifice, marking one of the major

      Livestock market stagnates amid inflation in Türkiye's Ankara as Eid approaches

      STORY: Livestock market stagnates amid inflation in Türkiye's Ankara as Eid approaches SHOOTING TIME: June 12, 2024 DATELINE: June 14, 2024 LENGTH: 00:04:17 LOCATION: Ankara CATEGORY: SOCIETY/ECONOMY SHOTLIST: 1. various of the livestock markets 2. SOUNDBITE 1 (Turkish): CUMALI IZOL, Livestock seller 3. SOUNDBITE 2 (Turkish): ORHAN DINC, Livestock seller 4. SOUNDBITE 3 (Turkish): CEVAT KARSLI, Livestock seller STORYLINE: Unlike previous years, livestock markets in Ankara are experiencing a noticeable slowdown leading up to the Muslim festival Eid al-Adha due to the country's struggle with high inflation. A sharp decline in consumer purchasing power has dampened the excitement of the four-day festival due to start on Sunday in Türkiye, traders told Xinhua in one market in the Muhye neighborhood of the Turkish capital city. "Sales have plummeted this year. Compared to last year, business is significantly lower. Most of our colleagues have not managed to sell a single animal," Cumali Izol, a livestock

        China-built fishing harbor in Tanzania benefits locals

        STORY: China-built fishing harbor in Tanzania benefits locals SHOOTING TIME: June 2, 2024 DATELINE: June 4, 2024 LENGTH: 00:02:49 LOCATION: DAR ES SALAAM, Tanzania CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of the harbor 2. SOUNDBITE 1 (English): BIAN LIANG, Project manager of China Harbor Engineering Company Ltd (CHEC) Tanzania Maritime Project Department 3. various of people working 4. SOUNDBITE 2 (Swahili): SUDI SAIDI, Local fisherman STORYLINE: Tanzania's first-ever fishing harbor will be completed in 2025, a Tanzanian senior official told Xinhua on Monday. The harbor, located in the Lindi region along the Indian Ocean coastline, is expected to boost the country's fish catches in deep seas. The project is being built by China Harbor Engineering Company Ltd (CHEC), a leading Chinese construction company. SOUNDBITE 1 (English): BIAN LIANG, Project manager of China Harbor Engineering Company Ltd (CHEC) Tanzania Maritime Project Department "We are building a fish port, and also all facilities for

          Türkiye's tourism insiders upbeat about prospect of culinary tourism

          STORY: Türkiye's tourism insiders upbeat about prospect of culinary tourism SHOOTING TIME: May 19, 2024/File DATELINE: May 20, 2024 LENGTH: 00:01:38 LOCATION: ISTANBUL, Türkiye CATEGORY: SOCIETY SHOTLIST: 1. various of Türkiye 2. SOUNDBITE 1 (Turkish): HAMIT KUK, Chief advisor to the president of the Association of Turkish Travel Agencies 3. various of Türkiye 4. SOUNDBITE 2 (Turkish): NALAN YESILYURT, Owner of a tourism company in Istanbul STORYLINE: A growing presence of Türkiye's restaurants in the prestigious Michelin Guide is fueling a surge in culinary tourism across the country, tourism insiders have said. Türkiye now boasts 110 Michelin-starred dining establishments, with two of them given two stars and 11 others receiving a single star. SOUNDBITE 1 (Turkish): HAMIT KUK, Chief advisor to the president of the Association of Turkish Travel Agencies "It's not just about eating and drinking; gastronomy tourism encompasses a broader range of experiences. Therefore, it has a distinct significance compa

            Türkiye's Istanbul feels strain as inflation, cost of living soar

            STORY: Türkiye's Istanbul feels strain as inflation, cost of living soar SHOOTING TIME: May 10, 2024 DATELINE: May 14, 2024 LENGTH: 00:02:13 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of Istanbul in Türkiye 2. various of local shops 3. SOUNDBITE 1 (Turkish): ISMAIL HAKKI, Local clothing shop owner 4. SOUNDBITE 2 (Turkish): FERRUH BUYUKOGLU, Stationery shop owner 5. various of Turkish Treasury and Finance Minister Mehmet Simsek speaking at the press conference in Ankara, Türkiye STORYLINE: Business has been sluggish for Ismail Hakki, who owns a once-thriving clothing shop in Istanbul's old Tahtakale neighborhood. "Business declined to only a fraction of what it used to be," Hakki said as he navigated through the rows of discounted garments in his shop. Hakki's woes mirror the broader struggle gripping Istanbul, Türkiye's economic hub, where inflation has outpaced the already-crippling national rate of 69.8 percent in April, according to the Istanbul Chamber of Commerc

              Türkiye eyes more digital nomads to boost tourism, economy

              STORY: Türkiye eyes more digital nomads to boost tourism, economy SHOOTING TIME: May 2, 2024 and May 6, 2024 DATELINE: May 7, 2024 LENGTH: 00:02:07 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): STEF VAN EYSENDEYK, Belgian tax advisor 2. various of tourists at the airport and beaches of Antalya, Türkiye (courtesy of ihlas news agency) STORYLINE: Türkiye is making efforts to attract digital nomads - people with professional skills who work remotely - to boost the country's tourism and economy. In late April, Türkiye officially rolled out the digital nomad visa. It is now available to applicants from specific countries who meet Türkiye's income threshold. Visa recipients can live and work in big cities of Türkiye for up to one year, with the option to renew. Stef Van Eysendeyk, a Belgian tax advisor working remotely from the southern, sun-soaked resort city of Antalya, told Xinhua in a recent interview that despite high inflation, Türkiye still stands as an affordable option for di

                OECD revises up Türkiye's 2024 growth forecast to 3.4 pct

                STORY: OECD revises up Türkiye's 2024 growth forecast to 3.4 pct SHOOTING TIME: Recent footage DATELINE: May 3, 2024 LENGTH: 00:01:15 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of a port in Türkiye (recent footage) 2. various of a textile factory in Türkiye (recent footage) 3. various of a customs gate in Türkiye (recent footage) STORYLINE: The Turkish economy is expected to grow at 3.4 percent this year and 3.2 percent in 2025, the Organization for Economic Cooperation and Development (OECD) said Thursday, revising up its February projection of 2.9 percent for 2024. In its economic outlook report, the OECD said Türkiye's real GDP growth was projected to slow from 4.5 percent in 2023 to 3.4 percent in 2024. Tighter financial conditions and the adverse impact of inflation on purchasing power in the country will subdue household consumption, the report said, reminding that inflation peaked at the beginning of this year but will remain elevated over 2024 and 2025. Despite tighter financial con

                  Surging restaurant prices in Türkiye make eating out a luxury

                  STORY: Surging restaurant prices in Türkiye make eating out a luxury SHOOTING TIME: April 29, 2024 DATELINE: April 30, 2024 LENGTH: 00:04:06 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people on the streets, at cafe and restaurants in Türkiye 2. SOUNDBITE 1 (Turkish): YUNUS ATAMAN, Private company worker 3. SOUNDBITE 2 (Turkish): YAZGI SECKIN, Student 4. SOUNDBITE 3 (Turkish): DINCER KARADOGU, Cafe owner in Ankara STORYLINE: For Turks hit hard by runaway inflation in recent years, going to a cafe or a restaurant has become a luxury. With nearly 70 percent annual inflation, prices of all consumer goods in the country are regularly increasing at a pace that has rarely been seen before. Restaurants and eateries in general are no exception to the price hikes. SOUNDBITE 1 (Turkish): YUNUS ATAMAN, Private company worker "I can't even imagine dining out anymore. Back in the day, my family and I would hit up a restaurant for a meal. Today, the same meal would cost me at least 2,500 liras (about 80

                    Turkish retirees' hope for future dashed by higher living cost

                    STORY: Turkish retirees' hope for future dashed by higher living cost SHOOTING TIME: April 17, 2024 DATELINE: April 18, 2024 LENGTH: 00:03:14 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of locals shopping on the streets in Ankara 2. SOUNDBITE 1 (Turkish): ALI KEMAL GUMRUKCU, Retiree in Türkiye 3. SOUNDBITE 2 (Turkish): HASAN OGUT, Retiree in Türkiye STORYLINE: Türkiye's economic challenges have significantly impacted its retired population, leading to a marked decline in the purchasing power of over 16 million pensioners and a notable deterioration in their living standards. Ali Kemal Gumrukcu, a 70-year-old, received an interview with Xinhua at the bustling downtown Kizilay district in the capital Ankara frequented by retirees. SOUNDBITE 1 (Turkish): ALI KEMAL GUMRUKCU, Retiree in Türkiye "The cost of living in Türkiye is very high, leading to disillusionment and hopelessness among people. This situation is affecting all of our lives. My dreams are over regarding the future. We used to easil

                      Inflation, rising prices dampen Eid festivities in Türkiye

                      STORY: Inflation, rising prices dampen Eid festivities in Türkiye SHOOTING TIME: April 7, 2024 DATELINE: April 8, 2024 LENGTH: 00:02:53 LOCATION: Ankara CATEGORY: SOCIETY SHOTLIST: 1. various of people on the streets and shopping for Ramadan in Türkiye 2. SOUNDBITE 1 (Turkish): ERTAN OZTURK, Candy vendor at Ankara's bazaar 3. SOUNDBITE 2 (Turkish): MUSTAFA YUKSEL, Jewellery shop manager at Ankara's historic Ulus neighborhood STORYLINE: Soaring prices in Türkiye have pushed consumers to tighten their purse strings this festive season, one of the toughest in years as households struggle to contend with soaring prices. Annual consumer price inflation rose to 68.5 percent in the Muslim-majority nation. Over 85 million are faced with the worst economic woes in decades. At markets in Türkiye's capital city Ankara, consumers say soaring prices meant they would not be able to celebrate Eid in the same way as in past years, and they have to settle for less. Small business owners are also feeling the sting of hig