Turkey now more expensive as holiday destination than Spain

Saturday, 20 Jan, 2010 0

Holidymakers to Turkey face paying more for tourist items, despite being seen as a value destination outside the eurozone.

While the Turkish lira has weakened by more than seven per cent against sterling in the past year, a new Post Office Worldwide Holiday Costs Barometer reveals a price hike of almost 44% for meals, drinks and other holiday items.

The country has dropped 14 places in the barometer table of 30 worldwide destinations to 22nd position, making it much more expensive than Spain.

Spain emerges as the cheapest eurozone destination – fourth placed overall and showing a price fall of 30% for the same items surveyed a year ago.

This is part of a general trend, in which every eurozone country surveyed is cheaper than last year, according to the Post Office.

Hungary was the cheapest destination for the second year running. Since its currency, the forint, is now worth more than nine per cent less than a year ago, the country looks unbeatable value for city breaks.

Last year’s value destination, Thailand, was runner up and is again the cheapest long haul country.

Close competitor Kenya – seventh placed overall in the survey – also looks well-placed.

Overall, tourist costs are down in 17 of the 25 destinations previously surveyed, with some of the biggest falls in Bulgaria, Mexico, Mauritius and Barbados.

Jamaica, Egypt and Dubai top the list of destinations where holidaymakers will have the most extra cash in their pocket, thanks to a strengthening of the pound over the past year.

Tourists will receive over 21% more Jamaican dollars, almost 14% more Egyptian pounds and 12.6% more UAE dirhams compared to January 2009, according to the annual Post Office Travel Services Holiday Money Report.

Prices have risen in only eight destinations, led by Turkey and South Africa. The World Cup host nation suffered because its currency is one of the few to have strengthened against sterling – up by 13% year-on-year.

Post Office head of travel money Sarah Munro said: “Judging by the price rises recorded in our latest cost comparison survey, Turkey is unlikely to be the cheap destination that it was just a couple of years ago when the Post Office barometer identified the country as a best buy.

“For 2010 our shopping basket of eight tourist staples indicates that Turkey is now 68% more expensive than Spain.

“The eurozone looks to be striking back after the battering its resorts took in 2009 when Post Office euro sales were down over 14%.

“This meant that although the euro remained our bestselling currency by far, accounting for a dominant 72.2% of our travel money business, its share reduced by over two per cent compared with 2008.

“However, the Post Office Worldwide Holidays Costs Barometer research has revealed an underlying reduction in eurozone prices and, when you add the improved exchange rate to this, the outlook looks relatively sunny for UK holidaymakers.”

by Phil Davies

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Phil Davies

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Turkey now more expensive as holiday destination than Spain

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