Consumer inflation in Turkey, which stood at 36.06% in December, rose to 48.69% in January, according to the Turkish Statistical Institute (TUIK). At the same time in the first place in terms of rising prices – industries of interest to tourists – such as alcoholic beverages, food, and as a consequence – hotels and restaurants.
According to the Turkish Statistical Institute (TUIK), inflation in January increased by 11.10% compared to the previous month, by 48.69% compared to the same month last year. At the same time, it exceeded the forecast – they predicted 48% in the Bloomberg poll and 46.68% in the Reuters poll.
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It should be noted that inflation in restaurants and hotels amounted to 8.45% compared to the previous month, 50.40% compared to the same month last year and 24.76% on average over 12 months. The annual increase in prices in restaurants and hotels was higher than the average in Turkey. Also in the leaders in terms of price increase – transportation by 68.89%, food and soft drinks by 55.61%. Among the most expensive goods in January 2022 are also alcoholic beverages and tobacco – 21.90%.
It should be noted that this is not the end. According to Treasury and Finance Minister Nureddin Nebati, inflation will peak in April, but will not exceed 50%. However, for tourists it is important that its peak should be expected just at the beginning of the season.
It should be noted that the problems in the Turkish economy are alarmed by the main competitor of this country in tourism – Egypt. According to the Egyptian Chamber of Commerce, the depreciation of the Turkish lira will affect the competitive price of all products produced in Egypt, and primarily due to falling prices, Turkey will also become a leader in tourism. “Even after the recent rise in prices in Turkey, prices will be competitive compared to the prices of products made in Egypt. The government must provide us with comfort in paying taxes and similar payments so that we can fight, “said the Egyptian.
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At the same time, the tourism sector is the main concern. “The depreciation of the Turkish lira against the dollar will attract more tourists to Turkey, which will reduce the number of tourists in Egypt, it will be high competition. Especially since the Turks are interested in delaying the flow of tourists to Egypt, “- say officials. They also estimated that in Turkey, tourists will be able to pay $ 636 for 1 week, including plane tickets, on the Turkish coast. “With such prices, the average tourist will go to Antalya instead of Hurghada,” – added the representatives of Egypt.
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