One's loss is someone else's gain has been proved fruitful in the case of tourism. As Turkish currency Lira, hit an all-time low against the pound and dollars, holidaymakers in the UK and the US have made their travel plans. The Turkish Lira slid to a record low due to the rampant inflation in the country. The currency has been plummeting since the start of the year 2018 and now it is almost 50 per cent low against the dollar. So a dollar would exchange twice as much lira currency. Taking advantage of the situation, several people have booked their holidays for the season. Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low. 

The economic crisis in the country is due to the immense borrowing of the government and also their relations with the US going downhill. Comparing the currency exchange rates to this time last year, travellers are definitely favoured this time. The pound is now  89 per cent up on the lira compared to August last year when it was just 37 per cent up. So people will get double the amount of Turkish currency to spend this year. British travellers are thus drawn back to the country of sandy beaches and blue waters. Turkey Pledges Lira Action to Calm Markets. 

According to popular travel company Thomas Cook, there is a 63% rise in the booking to Turkey in this year. Plus the ongoing heatwave across the countries, have pushed people's travel plans. The cost of eating out, shopping and other activities will also be lower. So the holiday deals are in a great offer and it is certainly the best time to visit Turkey.

The slump in Lira is severe and it is also the worst performing currency in the year 2018. The row with the US and Donald Trump reviewing the country's duty-free access to their market has affected the currency. They have also doubled tariffs on Turkish steels and aluminium. Meanwhile, the only thing rising in Turkey is their tourists.

(The above story first appeared on LatestLY on Aug 14, 2018 11:53 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).