Hotels in Türkiye become champion in terms of price hike Hotels in Türkiye become champion in terms of price hike

According to the Labor Cost Statistics announced by the Turkish Statistical Institute (TurkStat), the average monthly labor cost in 2022 amounted to 11,602 Turkish Lira (TL).

The Financial and Insurance Activities (K) sector topped the list with an average monthly labor cost of 28,790 TL, followed by Information and Communication (J) with 23,029 TL, and Arts, Entertainment, Recreation, Religion, and Sports (R) with 18,774 TL.

The Construction (F) sector recorded the lowest average monthly labor cost at 6,621 TL. This was followed by Accommodation and Food Service Activities (I) with 7,508 TL and Real Estate Activities (L) with 8,089 TL.

The gross earnings accounted for 86.8% of the labor cost, while social security payments constituted 13.0%, and other labor cost payments made up 0.3%.

Regular payments for time worked had the largest share within the earnings components at 79.3%. Irregular payments for time worked accounted for 9.8%, while payments for time not worked amounted to 8.2%. The share of in-kind payments within earnings, which was 0.5% in 2020, rose to 2.3% in 2022. Payments to provident funds accounted for 0.4%.

Compulsory social security payments had the largest share within social security payments at 85.7%, whereas voluntary social security payments accounted for 0.6%. The share of severance and termination payments, which was 10.7% in 2020, increased to 13.8% in 2022.

Editor: Haber Merkezi