The Pound has never bought more Turkish Lira than it does right now, making Turkey the standout destination for British holidaymakers seeking value, according to foreign exchange expert Tony Redondo.
Mr Redondo, founder of Newquay-based Cosmos Currency Exchange, said the Pound remained strong against several major currencies, at around €1.17 and $1.35, opening up opportunities for better value holidays.
Exchange Rate Context
The Pound touched a 13-month high against the Euro on July 15, has since slipped 1.4%, but still sits above the 12-month average. Against the Dollar it hit a two-month high the same day, down just 0.4% since.
However, where you travel matters just as much as the exchange rate itself, with local prices for food, drink and entertainment varying significantly between destinations.
Expert Advice
Mr Redondo said: "For anyone booking a last-minute summer trip, the real savings aren't in the flight price, they're in what your money buys once you land."
Within the Eurozone, he said the Algarve and coastal Spain remain the value picks, with cheap dining and groceries offsetting steep accommodation. He added: "Step outside the Euro and Bulgaria's Sunny Beach or Tirana go further still."
Turkey is currently offering some of the best value of all, thanks to the strength of Sterling against the Turkish Lira. Mr Redondo noted: "The standout story is further afield. The Pound has never bought more Turkish Lira than it does right now and against the Yen it's sitting at levels not seen since 2007."
This means holidaymakers could find their spending money goes significantly further on meals, drinks, transport and attractions than it would in many traditional European hotspots.
