ACCORDING to the US government, Edinburgh has the highest accommodation prices in the world during July and August.
The Department of State works out how much their workers can be reimbursed for staying in cities across the world, and Edinburgh tops the list.
Edinburgh is also the only city in the UK that has been given two guide prices, one for the summer months and one for the rest of the year.
A stay in the Scottish city is even pricier than the Cayman Islands, Monaco, and Reykjavik.
The US Office of Allowances publishes monthly figures on the maximum dollar rates that government officials can claim back after travelling on official business, called Foreign Per Diem rates.
As of this month, Edinburgh has the highest summer lodging rate in the world, at $607 (£481.98), as reported by The Times.
This price is an estimate for any stay from the beginning of July to the end of August – Edinburgh’s busy festival months.
As well as the Edinburgh Festival Fringe, the Edinburgh International Festival, Edinburgh Book Festival, Edinburgh Arts Festival, and the Edinburgh Film Festival all coincide during August, resulting in skyrocketing levels of tourism from the UK and rest of the world.
Earlier this year, Fringe accommodation prices were already as high as £13,000 for one month’s stay – affecting artists and performers as well as visitors.
Several organisations have said that the lack of housing in the city has driven up prices, with the Association of Scotland’s Self-Caterers blaming the introduction of the “shambolic” short term let scheme that has seen multiple delays and refusals.
Others blame landlords for “taking advantage” of scarcity and driving up prices, which are set to reach eye watering levels at next year’s fringe due to the newly approved visitor levy in Edinburgh.
During the rest of the year Edinburgh’s rate goes down to $250, or £198.36, which is closer to the average rate in the UK and less expensive than London or Crawley.
