Turkey 'a good alternative' to Europe
20 July 2009 12:59
Brits taking a family holiday are increasingly travelling to Turkey as they try to avoid Europe, it has been said.
Taking a break to a country with a favourable exchange rate may be a wise way to save cash, but scrimping on holiday insurance could end up costing people more in the long run should they have to cover the cost of an incident abroad.
According to Rishi Patel, head of FX trading at online foreign exchange FairFX.com, Turkey is the best alternative to expensive Europe for British travellers.
"A lot of people are generally saying that the eurozone is a very expensive destination now. Even a pint of beer or a dinner out is going to cost you, in relative terms, 20 to 25 per cent more," Mr Patel noted.
He went on to point out that in general, the pound has not seen the same volatility against the Turkish Lira that other currencies have.