British holidaymakers are finding their money goes much further in Turkey as the lira falls to a record low against the pound, prompting a surge in bookings for 2018. The lira has dropped by 34% over the past year, meaning travellers now get 697 lira for £100, compared with 460 last year, before exchange fees.
The pound has also slumped to its lowest level this year against the euro and the US dollar, and holidaymakers are being warned against exchanging pounds for euros at airports, where they will receive less than a euro for a pound. Anth Mooney of Thomas Cook Money said: “The lira is at an all-time low against the pound and thanks to the heatwave there are a lot of good-value deals on offer, so there’s never been a better time to holiday in Turkey.”
Thomas Cook has reported a 63% increase in holiday bookings to Turkey this year, with Antalya overtaking Spain’s Palma de Mallorca as its most-served airport for UK customers. The airline now operates 57 flights a week to Antalya, compared with 41 to Palma, following a recovery in Turkish tourism after a series of terror attacks in 2016. The company says Turkey now has the highest number of return customers, making it a “standout destination for summer 2018”.
Other non-euro destinations have also seen boosts, with Egypt up 80% and Bulgaria up 30%. Tunisia, which has been exceeding expectations following terrorist attacks in 2015, has prompted Thomas Cook Airlines to increase flights to 11 a week this summer. TUI also reports Turkey as a top European destination, ranking third after Spain and Greece, with a spokesperson confirming an increase in bookings to the country.
Despite its popularity with tourists, Turkey is facing pressure as an economic crisis looms. The lira’s slump comes amid growing tension between Turkey and the US, after the Trump administration announced a review of the country’s duty-free access to the US market, which could affect tax on $1.7bn of Turkish exports.
