What is on agenda of Istanbulites? Economic concerns, stress dominate discussions

The Istanbul Barometer August 2024 report by Istanbul Planning Agency (IPA) which tracks the pulse of the city’s residents on various issues, reveals that economic difficulties and education expenses were the primary topics on the agenda of Istanbulites within households.

The study, conducted on Sept. 2-11, involved telephone interviews with 1,001 Istanbul residents, offering insights into their economic preferences, job satisfaction and emotional states.

Economic concerns dominate household, national discussions

The report shows that 56% of respondents highlighted economic issues as the main topic of conversation within their households, followed by education expenses at 6.1%.

On the national level, 58.4% of participants cited economic challenges as the top issue, while 20.4% mentioned Israel’s occupation of Gaza and 8.8% pointed to recent wildfires.

Istanbul’s top issues in August: Economy, public transport for women

When asked about the most pressing issues facing Istanbul, 60.7% of respondents identified economic problems as the city’s top concern.

Another 21.5% referenced the Istanbul Metropolitan Municipality’s (IBB) initiative allowing women to get off Istanbul Electric Tramway and Tunnel Enterprises (IETT) buses at their desired location after 10 p.m., and 7.6% mentioned the start of construction on the Bayrampasa-Eyupsultan Tramway.

Economic outlook: Most expect no improvement

In terms of Türkiye’s economic outlook, 43.6% of participants expect the economy to worsen, while 38.9% believe it will remain the same, and 17.6% are optimistic about improvement.

On a personal level, 49.8% expect no change in their financial situation, 26.1% are hopeful for an improvement, and 24.2% foresee deterioration.

Credit card debt and financial struggles

Credit card usage was another significant topic, with 44.8% of respondents stating that they could pay off their entire credit card debt, while 36% could only manage the minimum payment. Alarmingly, 9.3% of participants reported being unable to make any payments at all.

Additionally, 43.8% of Istanbulites stated they were barely getting by financially, while 29.4% admitted to falling into debt due to missed payments.

Cryptocurrency viewed as insecure investment

A significant 66.3% of respondents expressed that they do not view cryptocurrencies as a safe investment, with only 5.6% considering them secure, and 22.9% stating they had no opinion on the matter.

Emotional well-being: Stress and happiness levels

The survey also gauged residents’ emotional well-being, measuring an average stress level of seven out of 10 and a happiness score of 5.4.

Meanwhile, the satisfaction with life in August averaged a five out of 10.