Key insights and market outlook
Turkish citizens are increasingly crossing the border to Greece to purchase everyday groceries due to significantly lower food prices. A liter of olive oil costing €10 in Greece is sold at double the price in Turkey. This phenomenon highlights the economic disparity between neighboring countries and demonstrates how price differentials can drive cross-border consumer behavior.
Turkish citizens are increasingly traveling to neighboring Greece to purchase everyday groceries due to significantly lower food prices. The price difference has become so pronounced that even regular trips are being made solely for shopping purposes.
The substantial price difference has led to a regular cross-border shopping phenomenon. Turkish citizens like Cihan Citak, a general manager at a food and beverage company, make regular trips from Istanbul to Alexandroupolis in Greece, a journey of about four hours by car. The practice has become so common that it highlights the growing economic disparity between Turkey and Greece, particularly in food prices.
This cross-border shopping trend not only demonstrates the power of price differentials in shaping consumer behavior but also underscores the economic challenges faced by Turkey in maintaining competitive pricing for essential goods. The situation reflects broader economic issues including inflation, currency valuation, and supply chain costs that are driving the price discrepancies between the two neighboring countries.
Cross-Border Shopping Trend
Food Price Disparity