Planning a getaway this summer? There are a load of things to consider, like whether you want a city break or a beach holiday, or how long your flight or train might take. But just as important is how much it all might cost.
So here’s a thing you should know. Turkey – that diverse, beautiful and very sunny country – is insanely cheap right now, with flights and accommodation both very, very affordable indeed. That’s because the country in the midst of an economic crisis, with the currency – the lira – having crashed. Last year the Turkish government repeatedly cut interest rates, thinking it might tame inflation, but in fact – as per conventional economy theory – it has caused the Turkish lira to drop 55 percent against the dollar in the past year and inflation has now reached 61 percent. Those are some stats.
So, what does it all mean? Well, while prices may have soared locally, the currency crash does mean the country has become even cheaper for foreign visitors. According to a recent survey by Post Office Money, the average cost of a cup of coffee in Marmaris, a resort town in the east of the country, is just 59p (77¢), while a glass of beer is £1.54 ($2.01). When you take into account currency conversions, prices for a shopping basket of holiday essentials came in at just £24.91 ($32.45) in Marmaris. That’s much cheaper than the £39.07 ($50.90) average in the Algarve in Portugal, or the £52.99 ($69.04) in Paphos, Cyprus.
The survey also takes a look at the biggest price falls by destination, showing you just how much cheaper some places have become. Sliema in Malta has got around 5 percent cheaper, which you probably wouldn’t feel the impact of. The cost of a Marmaris getaway, meanwhile, has dropped by a whopping 36 percent. That means you’re going to get a whole load more bang for your holiday buck.
It’s worth noting that a lot of these savings haven’t been carried over to the consumer in package deals, so you’re probably going to want to plan the trip yourself to save the most cash. But with a three-course meal for two – including wine! – coming in at just £16 ($20.85), it’ll almost certainly be worth the effort.
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