Turkish Lira hit all-time lows against the U.S. dollar. The lira hit a new record low of 7.36 against the dollar on August 7, before recovering to below 7.20 in the afternoon. Holiday in Turkey turkish lira

John Vandesquille, Travel & Tourism Analyst at GlobalData, a leading data, and analytics company, said, “The continuous drop of the Turkish currency on exchange markets, stemming from years of debt accumulation and the unwillingness of President Erdogan to increase interest rates, could actually help tourism in the region despite the uncertain times brought by the COVID-19 pandemic, with GlobalData forecasting a decrease in international arrivals of only 31.6% in 2020 compared to 2019.

“Indeed, despite having a similar number of cases to France and Italy (237,265), the number of casualties is at a similar level to Egypt and way below Spain – two of Turkey’s main competitor markets. This allowed Turkey to reopen its borders to tourists on 1 June, which slightly attenuated the impact of the pandemic on the peak season.

“Besides giving an impression of relative safety compared to its competitors, the favorable exchange rate is likely to attract foreign tourists, and, more particularly, British ones – who represented 2.44 million visitors in Turkey in 2019 (third largest source market) and who are currently not allowed to visit some of their usual destinations such as Spain.

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“A weak currency was already the reason tourism in Turkey experienced such a boost in the past few years, despite the negative impact of the multiple high-profile terrorist attacks between 2015 and 2017 on the country’s image.

Throughout history, Turkey has been caught between empires, countries, ethnic groups, and now, continents. Civilizations and conflicts have come and gone, but the country’s epic natural landscapes, majestic ancient ruins, and cultural diversity have only become even more captivating. Find yourself at the crossroads of time in Istanbul, where well-preserved Byzantine and Ottoman architecture betray its title as one of the oldest cities in the world. Next in line to the claim are the biblical city of Ephesus, Byzantine-era Aya Sofya, the ancient thermal salt baths in Pamukkale, and Cappadocia’s underground cities. Holiday in Turkey turkish lira

Explore this one by one while trying local treats like kebab, baklava, and tea..