Free Trial

Boosted Bookings Not Enough to Underpin Tourism Sector

TURKEY
  • Dunya write that despite hotel use and tourism activity rising to fill hotels across Turkey, the rise in costs have increased at such a rate that the sector remains unprofitable. The piece cites the President of the Professional Hotel Managers Association as saying the rise in costs “has not been good for businesses”. The CBRT stated that the tourism sector was key to addressing current account balance issues at last week’s rate decision.
  • The New York Times writes that Erdogan continues to alarm U.S. officials, despite his key role in brokering the grain deal between Russia and Ukraine. The piece writes that officials expressed skepticism about whether Russia was acting in good faith on the deal, adding that privately, Erdogan has remained a source of substantial irritation for Biden administration officials.
  • Capacity utilization ticked higher in July, rising to 78.2% from 77.6% previously. Meanwhile, real sector confidence deteriorated, dropping to 102.50 and a new multi-year low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.