Turkey increasingly popular for UK holidaymakers
24 October 2009
The cost of holidaying in Turkey has made it a highly popular destination with Britons this year, particularly with the upcoming half-term holidays, it has been stated.
Marks & Spencer’s (M&S) Travel Money report for the third quarter of 2009 has noted that the country has been increasingly favoured due to its exchange rates, with the lira falling in value against the pound, in contrast with the euro.
This has led to a surge in UK visitor numbers there due to the lower cost involved, the firm observed.
Travel money manager at M&S James Yerkess said: "The Turkish lira is one of the few currencies against which the pound has held its value since last year, meaning tourists heading to Turkey will still see their cash go further."
Such a situation could encourage those investing in international property to consider Turkey for buy-to-let investment, as the situation may help to establish the country as a new favourite with many Britons going abroad.
Earlier this week, founder of broker Istanbul Mortgage Bahadir Teker told the Financial Times that now is a good time to buy in Turkey, due to factors like better affordability, lower interest rates and a plentiful mortgage supply.
Source: Halifax International
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