Hotels and restaurants in Turkey confidently hold the first place in terms of price growth throughout the summer season. According to the latest data from the Turkish Statistical Institute (TUIK), hotel price increases held the top spot in May, June, and July compared to any other sector of the Turkish economy: and again, as they say, counted and horrified, the increase in hotel prices in the last month remains shocking: to Very few “didn’t reach” 100% last year.
At the same time, according to TUIK, inflation on average across the country in August amounted to 9.09% compared to the previous month, 43.06% compared to December last year, and 58.94% compared to the same month of the previous year. However, the figures for hotels are significantly higher.
Hotels topped the rating of price increases in May, June, and July, and remained champions in August as well. The increase in prices in restaurants and hotels last year amounted to 89.31% to last year, that is, there is not much left to 100%. By July, prices had risen by another 7%, and on average over the year they had risen by 75%.
By the way, the third fastest-growing industry is food and soft drinks, which is important for tourism and hotels. There, the price increase until August amounted to almost 73%.