Europe's best value holiday has week-long breaks from £281 despite rising costs

05 March 2024 , 10:54

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The value of the lira has plummeted against the pound (Image: Getty Images)

Brits heading on Turkey holidays this year will get far more lira for their pound than last year, but they may enjoy less bang for their buck.

Those with pound sterling visiting Turkey can currently get around 73% more liras for the pounds than a year ago – the equivalent of almost £211 extra on a £500 currency purchase. This rises to 113%– or £266 extra - over two years, according to the Post Office's Exchange Rate Monitor, published as part of the Holiday Money Index.

In terms of basic purchasing power, the plummeting of the lira and relative stability of the pound over the past year is a boost for Brits heading to Turkey this year as they'll find themselves with a fatter stack of Turkish cash in their pocket than this time last year.

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The prices in Istanbul have shot up in recent years (Getty Images/iStockphoto)

There are some amazing package holiday deals to be had if you are looking to make the most of the favourable exchange rate. Loveholidays is currently offering seven nights in Beach Club Doganay in Antalya for £281, leaving in March and including flights.

A week's long all-inclusive break in the same region at the Well Palace Side is on offer for £369 with On The Beach later this month, including flights from London Luton Airport.

All the places you can fly to for less than a tenner including Italy and Spain

Although there are some great deals to be had when it comes to breaks in Turkey, the reality on the ground is a little complicated. The cost of many items have shot up significantly in recent months as the country is squeezed by inflationary pressures. Anyone who has been to tourist hotspots including Istanbul in recent years will have noticed that the cost of basic items has gone up significantly compared to pre-Covid.

If you are eating in the city centre or heading for an evening out, then it's easy to spend as much as you would in the UK. The average cost of a half litre of beer is around 150 lira in Istanbul, which is around £4. You can find out more on postoffice.co.uk.

Neslihan Akin is a tour guide with ToursByLocals in Istanbul who has seen the impact of an unsteady currency on tourists first hand. "The last few years have been awful for Turkey. Our inflation rate changes every day," Neslihan told the Mirror. Rising prices that far outstrip local pay increases have seen Turkey's domestic tourism market take a battering, Neslihan said. International visitors continue to come, but they are increasingly shocked by the price rises, the guide claimed.

"Sometimes we enter museums like the Cistern in Istanbul and realise the price has increased again. Last year, the entrance fee was 150 lira. The second half of the year it was 350 lira, then 450 lira. (As a tour guide) trust is the most important thing, before the guests come to Turkey we tell them prices, but then it changes before they arrive," Neslihan said.

Europe's best value holiday has week-long breaks from £281 despite rising costs

Turkey is already a firm favourite with Brits (Anadolu Agency via Getty Images)

Hanefi Reh is another tour guide working in the Turkish capital who has seen Europe's largest city battered by inflation in recent years. "I dreamed of buying a house a few years ago, but now it is impossible," he told the Mirror.

"Because of inflation a house has gone from two million to five million lira. Travel agencies have also been badly affected. The governor has changed the ticket prices of museums within the season. You make programmes at the beginning of the season and you cannot change them. It affects you so badly."

Currently the tourism sector in Turkey makes up 21% of the economy and continues to attract a lot of investment. Although prices are going up, the country remains far cheaper than many other sunny destinations a similar distance from the UK. Close to three million Brits head to Turkey each year, attracted by its delicious food and the excellent weather in resorts such as Bodrum.

Favourable entry rules mean that those with UK passports can spend 90 days out of every 180 day period in the country visa-free.

The Foreign Office is advising against all travel to certain parts of Turkey, so make sure you check the latest Foreign Office Turkey advice before booking a trip.

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