Budget-conscious travelers have historically visited Turkey, and it is widely considered to be the cheapest vacation destination in the Mediterranean.
Turkey has so much to offer. Travelers can explore historic ruins, stunning landscapes, beautiful beaches, mountain regions, bustling cities, and warm and welcoming people — all available at an affordable price.
The food in Turkey may be cheap, but it’s delicious. And the quality of Turkish hospitality is world-renowned. So why doesn’t it cost more to visit?
Here’s why the Mediterranean’s cheapest vacation destination just got even cheaper:
You’ll Get More Bang For Your Buck
The main reason that visiting Turkey will be cheaper this summer is because the value of the U.S. Dollar has risen considerably against the Turkish Lira.
This time last year, 1 dollar was worth 17.28 Turkish lira. By contrast, at the time of writing, 1 dollar is worth an incredible 26.06 Turkish lira.
This follows a ten-year pattern of the dollar strengthening against the lira and is part of what cemented the destination’s reputation as an affordable destination in the first place.
In real terms, what that means is that your dollars will go much further when you are taking a vacation in Turkey.
You will literally get more bang for your buck.
A Budget Travel Sweet Spot
Turkey is entering a period of economic uncertainty. On May 28, Recep Tayyip Erdogan was re-elected as the president of the country, and forecasters have suggested the country will face further economic uncertainty accompanied by growing inflation as a result.
Of course, inflation is bad news for travelers, as it means that prices will go up. But inflation will take time to catch up with the runaway value of the dollar against the lira.
This means that if you visit Turkey now, you can take advantage of the sweet spot where prices remain the same, but the value of your currency is much higher.
Turkey welcomes travelers, as it relies on the money they bring. In 2021, the total contribution of travel and tourism to Turkey’s GDP amounted to more than 525 billion Turkish liras.
Its location meant that Turkey historically relied on Russia for a large percentage of its tourism, but as a result of the War in Ukraine, Russian tourism in the region has declined significantly.
This means that tourists from Europe and America are more welcome than ever. Higher spending power and a warm welcome are both attractive propositions when looking for new tourism opportunities.
What Does This Mean For Travelers in Turkey?
While transatlantic flights are likely to be more expensive, this makes Turkey a viable alternative to traditionally popular destinations with American travelers, such as Mexico and Costa Rica, because prices on the ground are so much more affordable.
While the Turkish lira has plummeted in value, the Mexican Peso and Costa Rican Colón have surged in value. This means you’ll get less for your dollar in these destinations.
If you choose Turkey for your next vacation destination, then you can buy a bottle of beer in a bar for just $2.87 or a bottle of Coke for $1.77.
Eating out is affordable too, with a three-course evening meal for two with a bottle of house wine costing just $50.72 on average, and people-watching in a café with a cup of coffee will set you back just $2.22.
Accommodation in the country is cheap too. Of the 15,804 properties listed on Booking.com in Turkey, it was possible to secure a one-week stay for 2 adults at the end of July for $150 per night, or less, in approximately two-thirds of the available properties.
This will attract all kinds of travelers. Budget travelers and backpackers will visit Turkey because they tend to seek out the most affordable destinations for their trips.
But mid-range and luxury travelers should also use this as an opportunity to visit Turkey and take advantage of the great value it poses and the opportunity to get more for your money.
