“We are keeping pace with European countries in terms of the cost of living,” said Reto Moser, CEO of Four Seasons Istanbul. He gave a frightening assessment of the situation – Bodrum has become more expensive than the resorts of Greece and many tourists now choose Greece or Egypt as a cheaper alternative. And in Istanbul, the cost of living has become at the level of London or Paris, which also does not contribute to the influx of tourists.
“The low occupancy of hotels, especially in Bodrum in the summer, is due to the increase in hotel prices. Hotel prices in Istanbul have also increased. When you compare prices with Greece, Spain, or Egypt, it is obvious that prices have increased and Turkish resorts have become more expensive,” Turizm Gazetesi quoted him as saying.
He also noted that the cost of living in Istanbul is at the level of London and Paris. “Istanbul is one of the most expensive cities I’ve lived in,” he said. He also added that his Turkish employees consider a trip abroad a cheaper vacation this summer.
“They say: ‘We will go to Greece because the prices are more affordable,'” he quoted. He also called Egypt a cheaper destination but emphasized that Turkey is ahead of him in terms of quality. “If I had to choose one of the two countries, I would choose Turkey,” Moser emphasized.