Turkey’s Big Mac prices have soared to record highs, surpassing the global average for the first time, according to the latest Big Mac Index published by The Economist.
The data highlights a dramatic shift, showing that Turkey is no longer a budget-friendly destination, with inflation and currency fluctuations pushing prices to unprecedented levels.
A Big Mac in Turkey now costs at least 205 TL, with prices reaching 265 TL in major cities and tourist areas. This puts Turkey among the most expensive countries for the iconic McDonald’s burger, second only to Switzerland when using the highest price estimate.
The Impact of Inflation and Exchange Rates
For years, Turkey’s Big Mac prices followed a similar trend to the global average. However, since 2018, costs have risen sharply, reflecting the country’s ongoing economic challenges. Inflation, rising costs of imported goods, and currency devaluation have contributed to this surge, making everyday expenses significantly higher for locals and tourists alike.
Professor Hakan Kara, a well-known economist, pointed out that Turkey’s place on the Big Mac Index shows how the country has shifted from being considered an affordable destination to one of the most expensive in certain categories. The rapid increase in fast-food prices is just one example of how inflation has impacted purchasing power.
A Measure of Purchasing Power
The Big Mac Index, first introduced by The Economist in 1986, is a well-known economic tool that compares currency values and purchasing power across different countries based on the price of a Big Mac. By converting local prices into US dollars, the index provides insight into whether a currency is overvalued or undervalued.
In Turkey’s case, the soaring Big Mac prices indicate a significant loss of purchasing power. We published a similar news article on Big Mac prices in Turkey last year. The rising cost of fast food is not just about a burger—it reflects broader economic struggles, including higher import costs, increased wages, and fluctuating exchange rates.
Turkey’s Ranking in the Big Mac Index
According to the latest figures from The Economist, Turkey now ranks 8th most expensive in the world when considering the lowest Big Mac price (205 TL). If the highest price (265 TL) is used, Turkey jumps to 2nd place, just behind Switzerland—a country known for its high cost of living.
The price differences also vary by region. In tourist hubs like Istanbul, Antalya, and Bodrum, a Big Mac meal with fries and a drink can cost significantly more, further emphasizing the country’s rising costs for both locals and visitors.
As Turkey continues to grapple with economic challenges, the Big Mac Index serves as an eye-opening reflection of inflation, currency fluctuations, and the changing landscape of affordability in the country.
