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The lira slide pushes Turkish youths to work abroad

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Nearly two years ago, with the Turkish lira continuing to decline, Batikan Erdogan created a statue that prompted him to reconsider his decision.

Realizing that her previous five-year income was less than a dollar, she decided that it was necessary to make foreign exchange. But, instead of connecting with a lot of people he knew who had left the country in recent years to work abroad, he got a job from Turkey starting in Seattle.

“I did not want to leave my family, my friends, just to move to another country to work,” he said, adding that the ability to buy his dollar bill was also huge in Istanbul. “Making money and using lira makes me happier compared to living in Berlin and using euros.”

The 31-year-old, who is now working remotely to re-establish the US, is part of a series of cerebral palsy in Turkey as well as a growing component of the coronavirus epidemic and is compounded by the economic crisis in Turkey. President Recep Tayyip Erdogan, a long-time anti-interest activist, ordered the central bank to repeatedly reduce the borrowing rate even rising inflation.

As international companies and their employees have evolved into a pandemic, long-distance operations have provided exciting opportunities for young people who are seen abroad – but they are creating problems for Turkish businesses.

Gizem Oztok Altinsac, an economist at the Turkish trading agency in Tusiad, said companies were “not happy” about it. “It is good for young people with high unemployment in our country, but it is very bad for the real sector, which needs qualified young people and they cannot afford to pay their bills.”

The event is one of the fastest in the world because the epidemic has encouraged companies, especially those in the industry, to stop looking for new jobs.

“Covid has completely changed the way engineering teams are formed,” said Vivek Ravisankar, of HackerRank from Silicon Valley. “Companies have tasted what it means to get talent from a distance of over 15 miles and they never return.”

This has a huge impact on the fees that businesses have to pay. Although wages in the past tended to fluctuate depending on the location, Ravisankar noted that the pay gap is starting to decline. “I would not be surprised, as it turns out, if [in future] All over the world there are low salaries, “he said.

Opposition parties have stated that Turkey will continue to suffer for the past 10 years under the auspices of Erdogan’s presidency, as well as political and economic suffering.

In a survey of young people between the ages of 18-29 last year by the MAK and the University of Yeditepe, 64 percent of those surveyed said they wanted to leave Turkey to live in another country. Many cited the desire for “a better future” as their motivation.

Train in central Istanbul. Turkish lira has lost more than 80% against the dollar since the beginning of 2015 © Altan Gocher / Gocher Imagery / Getty

The Turkish lira has lost more than 80 percent against the dollar since the beginning of 2015, undermining the purchasing power of foreign exchange earners.

Gonul Kamali, president of the Turkish Software Industrialists Association (YASAD), which represents the software sector, said the international company could pay € 5,000 or € 6,000 a month to hire a European engineer – or € 2,500 for a Turkish. This equates to an average salary of about TL15,000 (approximately € 1,180) per month for a programmer with four to nine years of experience working for a Turkish company. “I am [a] the cheapest for international companies, “he said.

“The developers win at the end of the day, so I’m proud,” added Kamali. “But Turkish companies are suffering.”

Business executives and industry representatives said the biggest and most exciting startup in Turkey – such as the Getir delivery project and the ecommerce platform Trendyol – is still able to rent and retain top talent. But others, including former industrial giants in Turkey, have had a difficult time recruiting people with the necessary skills.

Former Turkish Finance Minister Berat Albayrak launched the project last year with the aim of encouraging 1m youths to start codecs by offering free online education.

Mustafa Ergen, vice-president of the opposition Deva party, said this was welcome but said there was a need for major reforms to enhance education in schools and universities and support the growing professional sector in the country.

Ergen, who also teaches business and has a background, said that the number of young people in Turkey means that there is a great opportunity to train a group of young computer and internet developers. But he warned: “We should have done that ten years ago. Every year we fail to take action, the opportunity closes because our people are getting older. ”

Rising inflation in Turkey means that Erdogan, a technology worker, insists he is “not rich” despite having a foreign exchange. “I keep my purchasing power at the same level.”

There are problems with working from home, such as having difficulty shutting down at times. But he is excited about his company, in New York the start of a production called KosmoTime, where he has been working since May as a sales manager. As well as a fair pay, they offer benefits such as travel tours around the world.

As a result of his work, Erdogan and his friend are hoping to move from their home in Istanbul to the outside of the city to have a garden for their dog, Maya. It is difficult for them to decide to return to work for a Turkish company. KosmoTime “found my loyalty”, he said.

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