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Restaurants sit half-empty in Turkey this summer as inflation reaches 91% in places sending tourists and locals flocking to neighboring Greece (fortune.com)

submitted 4 months ago by [email protected] to c/[email protected]

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Restaurants in some Turkish holiday towns are sitting half-empty in peak tourist season, as many locals find it’s cheaper to holiday in neighboring Greece than stay and eat in one of their own country’s world-famous resorts.

Angry citizens have taken to social media to share their bills, including the equivalent of $640 for food and drinks for five people in Bodrum and $30 for five scoops of ice cream in Cesme. Meanwhile from Mediterranean Greek islands just a few kilometers away, their fellow Turks boast they’re paying far less than prices at home.

“There’s a huge difference between the service and product quality, as well as prices here and there,” said Murat Yavuz, a retired Turkish banker who regularly visits Greece. “Restaurants here have used inflation as a pretext to push up prices.”

Restaurant and hotel prices rose by an average 91% in June from a year earlier, topping already eye-watering headline inflation of 71.6%. The sector constitutes a third of the services economy that the central bank has highlighted as a particular cause of concern in its fight against spiraling prices.

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[–] [email protected] 6 points 4 months ago* (last edited 4 months ago)

Good thing that there's no ongoing historic tension between the countries that could complicate this already fraught situation! Hold on, gotta take this call.

picks up phone and listens for a while to shreds, you say?