UK holidaymakers are flocking to Turkey as the lira plunges to a record low against the pound, making trips significantly cheaper. Travel firms report a surge in bookings for 2018, with the lira falling 34% over the past year. Holidaymakers now get 697 lira for £100, up from 460 last year, before exchange fees.
The lira's decline coincides with the pound hitting its lowest level against the euro and US dollar this year. Experts warn against exchanging pounds at airports, where rates are poor. Anth Mooney of Thomas Cook Money advises using prepaid cards loaded with lira to take advantage of favourable rates.
Thomas Cook reports a 63% increase in Turkey holiday bookings this year, with Antalya surpassing Palma de Mallorca as its most-served airport for UK customers. The airline now operates 57 flights a week to Antalya, compared to 41 to Palma. Turkey has the highest number of return customers, making it a standout destination for summer 2018.
Other non-euro destinations are also booming: Egypt bookings are up 80%, Bulgaria up 30%, and Tunisia exceeding expectations. TUI ranks Turkey third among European destinations for UK tourists, behind Spain and Greece, stating it is 'well and truly back on the map'.
Despite tourism's recovery, Turkey faces economic pressure from a weakening lira and tensions with the US, which is reviewing duty-free access for $1.7bn of Turkish exports.
