Understanding inflation and its impact on the hospitality industry in 2023

Emily May Kong
19th January 2023
Last Updated

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What is inflation?
Figure 1 – Challenges of the hospitality industry for the next 12 months (Source: Hospitality Insights, 2023)
Why does inflation matter for the hospitality industry?


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What can we expect in 2023?

Inflation is an ever-present force that affects businesses across all sectors—including those in the hospitality industry. While there may be some uncertainty ahead as we head into 2023, businesses can prepare for rising prices by staying informed about current trends and planning ahead with effective budgeting strategies. By doing so, they will be able to ensure their continued success despite any potential economic headwinds that may arise over the coming months and years.

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