The value of ATM cash withdrawals in Turkey displayed a fluctuating trend over the past decade, standing at 227.69 billion US dollars in 2023. The market experienced notable peaks and troughs, such as a significant drop in 2020 by 15.21%, followed by a substantial recovery in 2021 with a 29.12% increase. Over the last two years, the year-on-year variations were a decline of 2.87% in 2022 and a rise of 1.91% in 2023. The last 5-year CAGR from 2019 to 2023 was 2.07%, indicating modest growth.
The forecasted data suggests continued, albeit slow, growth with a forecast 5-year CAGR of 1.45% and an overall forecast 5-year growth rate of 7.48%. These forecasts suggest consistent but moderate increases in ATM cash withdrawals through to 2028. Future trends to watch for include the impact of digital payment methods and fintech innovations, which could significantly influence consumer behavior and the reliance on cash-based transactions in the coming years.
