Istanbul home to most affluent households

Istanbul home to most affluent households

Istanbul home to most affluent households

The annual average disposal income of households in Istanbul, Turkey’s financial and trade center, was 49,240 Turkish Liras (around $5,600), well above the country average of 33,400 liras, data from the Turkish Statistical Institute (TÜİK) have shown.

The average disposal household income in the city of some 16 million was around 41,000 liras in the previous year and some 35,000 in 2018.

TÜİK also reported that Istanbul also had the highest income inequality last year.

The western Anatolian region ranked second at 38,00 liras of annual income, followed by the Aegean region at 35,785 liras, according to TÜİK’s latest income and living conditions survey for 2020.

The region including the eastern provinces of Van, Muş, Bitlis and Hakkari had the lowest annual household income at 15,198 liras.

Households’ average disposal income in Turkey was 28,522 liras in 2019 and lower 25,200 in 2018.

TÜİK separately reported that Turkey’s gross domestic product (GDP) per capita index based on purchasing power parity (PPP) last year was 64, while the average for EU countries was 100.

Despite the 2020 COVID-19 pandemic, the country’s index rose 3 points from the previous year.