Britons heading to Turkey this summer can expect to get 35 per cent more for their money compared with last year, after the pound hit a five-year high against the lira
Britons heading to Turkey this summer can expect to get 35 per cent more for their money compared with last year, after the pound hit a five-year high against the lira.
Holidaymakers exchanging £100 will now get around 355 Turkish lira, up from around 260 lira this time last year, and 225 lira in the autumn of 2010.
The recent resurgence of the pound against a number of foreign currencies will provide a boost to travellers who have recently booked a break – and could encourage some to buy their holiday currency now.
As well as the Turkish lira, the pound has risen sharply against the South African rand (+31 per cent), the Indonesian rupiah (+31 per cent), the Brazilian real (+27 per cent), the Jamaican dollar (+22 per cent), and the Australian dollar (+21 per cent). It has also risen by at least 10 per cent against the Canadian dollar, the Thai baht, the Japanese yen and the Mexican peso, among other currencies.
"With the exception of the Icelandic krona (-7.2% year-on-year) sterling has strengthened against every holiday currency since last year," said a spokesman for the Post Office Travel Money. "The improved value of sterling has led to a rise in demand for a wide range of currencies. In addition to an unseasonal surge in sales of the Turkish lira, we have also seen a big increase in demand for South African rand, New Zealand dollar, Canadian dollar and Australian dollar."
Where the pound has strengthened
What £1 buys now (Feb 5, 2014)
What £1 bought one year ago
South African rand
Source: Post Office Travel Money
A spokesman for Anatolian Sky Holidays – a specialist in Turkish trips – advised travellers hoping to take advantage of sterling’s strength to avoid all-inclusive packages, in favour of self-catering or bed and breakfast accommodation.
Akin Koç, the firm’s managing director, said: “This is particularly good news for many of our clients, who will be able to take full advantage of savings on food, drinks and shopping. For example, on a one-week holiday a couple might budget up to £500 for spending money, but this year the same extras will only cost them around £400, meaning £100 stays in their pockets. A meal that cost £10 per person last year will only cost £8 today – holiday spending money will certainly go further this year.”
Visitors to Turkey should be aware that, from April, they must acquire an e-visa before they travel. The system is already up and running but will replace the existing visa-on-arrival system entirely on April 10. The cost of the visas, which are valid for 90 days and grant multiple entry access, is £10 per person. Travellers are advised to use the official Turkish government website to apply (www.evisa.gov.tr) and should beware of unauthorised websites trying to charge an additional application fee.
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