42.9% of Turks View Gold as Best Form of Investment, Only 1.9% Would Invest in Crypto

A new study has found that nearly 43% of Turkish individuals surveyed consider gold to be the best form of investment, while just 1.9% said they would invest in cryptocurrencies. Real estate is the next most-preferred after gold, with 27.4% of the respondents saying they would invest.

Fewer Turks Now View Gold as Best Investment

A recent study by Areda Survey has found that a significant number of Turks — about 42.9% — still consider gold to be the best form of investment. The figure is almost 15 percentage points lower than the number of Turkish individuals that viewed gold as the ideal investment in April 2021.

In terms of the gender of those that said they would invest in gold, the study found that 45.9% of the respondents were women, while men constituted 42.2% of such respondents.

Besides gold, the Turkish newspaper Hurriyet reported that Turks’ next most-preferred investment is real estate at 27.4%. The number is marginally higher than the 26.9% that said they would invest in real estate last year, the report added.

Foreign Currency Preferred

As previously reported by Bitcoin.com News, Turkey’s high inflation rate combined with a depreciating currency has forced residents to switch from the Turkish lira to foreign currencies. According to the May 2022 Areda Survey, 23.7% of respondents said they would prefer foreign currencies when asked the type of instrument they would invest in.

While reports have suggested that Turkey’s economic situation is forcing residents to invest in cryptocurrencies, the Areda Survey findings appear to suggest that few Turks see these as an ideal investment.

As shown in the Hurriyet report, only 1.9% of the respondents said they would invest in cryptocurrencies. This is lower than the 3.1% that said they would invest in deposit accounts, but higher than the 1% that would invest in stocks.

What are your views on these findings? You can tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.