Minimum wage ninth highest in Europe

[frugal90]

So 7.5% on minimum wage.

All public sector wages and pensions up by 11.5%

Apparently ninth highest minimum wage in Europe.

How does the lack of any real economy fund this?

Will Turkey eventually cut the subs?

Will the increased income requirements for ex-pats see an acceleration in the exodus or will they just be replaced by "high income" residents?

Something has to break, what ?

[Reyntj]

We are about to find out over this year how exactly the goverment will pay for this ...cuts and taxes across the board as basic economics they dont have theincome for this.

[EnjoyingTheSun]

Eventually the ones earmarked to pay for it will run out of money.
I think Turkey will eventually run out of patience like Germany did with Greece. Why should they work hard to subsidise people who basically don’t want to pay for stuff? theirselves.

They have one successful business out here which are the casinos. They are successful because Turks like to gamble but are barred from doing so in their own country and the EU money laundering rules are killing casinos in the rest of Europe.
The casinos aren’t well run but at the moment are shooting fish in a barrel.

So get them to pay a fair amount of tax. At the moment what they are paying is ludicrous.
It’s not the best solution it’s the only solution imo.
They’ll pay it because it’ll still be the lowest amount of tax they would pay in Europe.

When the Wynne casino opens in Dubai in early 2027 it will be a game changer as the casinos over here are going to lose the vast majority of Middle Eastern business they have tried to develop in recent years so will be totally reliant on the Turkish mainland business. So their business will be totally reliant on the mainland’s economy. This is if Wynne don’t go after the Turkish mainland business, they have to pay for a $5 billion casino so will be ruthless and are better at running casinos and marketing than the Turks.

So after 2027 you may well find that the casinos won’t be in a position to pay the tax they could now without going out of business.

[frugal90]

thanks for that contribution, a real eye opener

[ljarvo]

Good point about the Wynn.

The Wynn casino is actually being built in Ras Al Khaimah which is about 50 minutes North from Dubai.

I imagine it will attract customers from the East.

Pegasus used to have a direct flight from Istanbul to Ras Al Khaimah which I would think would be reinstated.

Let me think.... would I rather go to a casino in N Cyprus or the Wynn with all its amenities etc. I think they will lose a lot of the market in N Cyprus to RAK.

[frugal90]

N Cyprus stuffed, maybe time to look to get out!

[EnjoyingTheSun]

Good point about the Wynn.

Let me think.... would I rather go to a casino in N Cyprus or the Wynn with all its amenities etc. I think they will lose a lot of the market in N Cyprus to RAK.

I think they will certainly lose their Middle Eastern customers to Wynn which means they will be pretty much solely dependant on the Turkish mainland. It’s very dangerous to be dependant on one market because of their economy takes a downturn your business will also suffer. It’s only in recent years that the TRNC casinos have gone after the Middle Eastern market, about 20 years too late. As I said they are badly run and now they will lose those customers. I never thought the casino in the South was a danger to the casinos here but the Wynn is.

[EnjoyingTheSun]

N Cyprus stuffed, maybe time to look to get out!

I think to get out of this pickle will need such a change in attitude and probably even the electoral system that I doubt they have the stomach for it.

It will need short to mid term pain as they need to cut the number of unproductive public sector employees for both the cost & to cut the bureaucracy.
It will also need a lot of investment in infrastructure to include education which begs the question, where will they get the money?
It will need a change in the electoral system because in the short term this is going to really hurt so no government that is probably going to be out on its ear in 18 months is going to take it on.
The problem is when you are looking to make the changes that need to be made it will be at least 10 years until they really bear fruit. The quicker you try to do it, the more short term pain

[Dalartokat]

N Cyprus stuffed, maybe time to look to get out!

I think to get out of this pickle will need such a change in attitude and probably even the electoral system that I doubt they have the stomach for it.

It will need short to mid term pain as they need to cut the number of unproductive public sector employees for both the cost & to cut the bureaucracy.
It will also need a lot of investment in infrastructure to include education which begs the question, where will they get the money?
It will need a change in the electoral system because in the short term this is going to really hurt so no government that is probably going to be out on its ear in 18 months is going to take it on.
The problem is when you are looking to make the changes that need to be made it will be at least 10 years until they really bear
fruit. The quicker you try to do it, the more short term pain

Might as well talk to a brick wall then, you think they will take notice of what an expat thinks.