Cost of living

Turkey-flag-140The cost of living in Turkey is more reasonable than neighbouring European countries.  There are a variety of accommodation options available to suit all tastes and budgets and Turkey offers excellent value for money. On an average, an international student in Turkey will spend about 500 to 600 Euro a month on accommodation, food, clothing, entertainment, transportation and telephone costs, depending on their location and lifestyle.

Some average example prices can be found at:

Money and banking

Turkey has plenty of local and foreign banks. As a placement student in Turkey you may need to open a bank account at a Turkish bank, which requires a valid tax number and passport.  Also, a residency permit may be required depending on the branch and the employee.

Foreign banks in Turkey include Deutsche Bank, HSBC, Citibank and J.P. Morgan and Chase, but only HSBC has branches throughout the country.

Local banks, such as Garanti Bank, have made an attempt at employing staff who can speak English. However, Isbank owns several European branches and may be more convenient for EU student residents.

Payments are normally made in cash or using credit cards with the Turkish Lira. There are ATMs in numerous locations in the cities and internet banking services are provided by nearly all banks.

Most banks are open from Monday to Friday between 9am and 5pm.

Travelling costs

Students usually pay and organize their own travel to the destination country and cover their daily commuting costs between where they are staying and the premises of the company where they are working.

Do you want to learn more about business culture in Turkey?