Labour costs in Turkey’s food and beverage service activities have witnessed significant growth over the past decade, rising from 12.41 billion New Turkish Liras in 2013 to 48.37 billion in 2023. The year-on-year variation has generally hovered around 20%, with peak years experiencing nearly 30% growth. Post-2020, the pace of increase has decelerated, with annual growth rates dropping to single digits. In 2023, labour costs stood at 48.37 billion, reflecting a 5.16% rise from the previous year. The Compound Annual Growth Rate (CAGR) over the past 5 years (2018-2023) was approximately 7.46%.
Looking ahead, the forecasted data suggests a moderate growth trajectory, with the 5-year CAGR from 2024 to 2028 predicted to be 3.27%, resulting in a total increase of 17.44% over these 5 years. Future trends to watch include the impact of technological advancements on labour costs, potential policy changes affecting wage levels, and the influence of macroeconomic conditions on the tourism and hospitality sector.
