Turkey’s millionaires increase by 13,000 since 2018 – report

The number of people in Turkey who have 1 million liras ($167,660) and over in their bank accounts has increased by 12,777 since the end of 2018, independent news site T24 reported, citing data released by country’s Banking Regulation and Supervision Agency (BDDK).

The total number of millionaires in the country has reached 192,903, the report said.

The figures arrive as Turkey grapples with its first recession in a decade following a currency crisis last year that gave way to soaring inflation, slashing 40 percent off the value of the lira.

The total assets for the country’s millionaires who are living in both Turkey and abroad registered at 124 billion liras ($ 20 billion), the website said.

The report also found that the number of millionaires living abroad is close to 20,000.

As of the end of March, 19,903 Turkish millionaires are living abroad, with an increase of 1577 since the end of 2018, the BDDK figures indicated.

Of the 93.8 billion lira ($15.7 billion) the above-mentioned millionaires have in their accounts, 9.2 billion lira ($1.5 billion)  is in local currency, 83.4 billion ($13.9 billion)  in foreign currency and 390 million lira ($ 65.3 million) other entities in gold-based accounts, the report found.

Over 5,000 millionaires left Turkey in 2017, following the failed coup attempt of the previous year, and around 13,000 entrepreneurs and businesspeople have left over the last three years.


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