HomeEconomicRoom prices in Turkish hotels increased by 35% in July

Room prices in Turkish hotels increased by 35% in July

The cost of living in Turkish hotels in July 2022 increased by 35% compared to the same period in 2021, reaching €158. This is evidenced by the data of the Turkish Hoteliers Association (TÜROB).

“In July, the average room prices in Turkey increased by 35% to 158 euros compared to the same month last year. The hotels that submitted the research data were mainly in the upper segment. Rising prices for vacations in tourist areas such as Antalya, Bodrum, and Istanbul also led to an increase in the national average,” the study says.

Hotel occupancy across the country in July 2022 increased by 7.9% compared to July 2021 and amounted to 71.3%. However, the Turkish tourism industry failed to reach the pre-crisis indicators of 2019 – then hotel occupancy reached 75.6%.

On August 31, the Financial Times reported that Turkey’s economy grew by 7.6% in the second quarter of 2022, despite the country’s record inflation for 23 years. From April to June, the country’s GDP increased by 7.6% due to the large level of exports.

The growth of the Turkish economy was the largest among all the participants of the G20. This is explained by the fact that the population bought goods in large quantities, expecting a rise in prices shortly.

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