A holiday abroad is not at all more expensive now than it was 10 years ago

By: Trademagazin Date: 2022. 08. 02. 12:15

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Since forint is getting weaker and weaker, it seems logical that vacations abroad will also become more and more expensive. However, in reality this is not necessarily the case: in Turkey, for example, you can go on vacation for pennies…

We can compare the costs of a holiday abroad using two main metrics:

currency exchange rates
and the change in the consumer price measured in the destination country’s tourism sector
There are places where it’s definitely worth it

Nothing shows the combined effect of the indicators better than the case of Turkey. In recent years, there has been increasingly shocking news about the economic situation of the popular holiday destination. Most recently, the May harmonized inflation figure was published: 73.5 percent. In ten years, prices in the tourism sector increased by 524 percent, far exceeding the entire consumer basket. Of course, this is also accompanied by the fact that the Turkish lira is completely devalued against other currencies, including the HUF. Together, the two effects mean that compared to 10 years ago, you have to pay HUF 4 percent less for a trip to Anatolia.