At present, an estimated 34,000 Brits are thought to be residing in Turkey, the majority of which have relocated there in order to enjoy their retirement.
This is part of a wider international trend, with research released by Bloomberg highlighting that renowned yachting hotspots such as Spain and France are being eschewed by the super-wealthy in favor of Turkey. Sure, this may have something to do with coronavirus, but there’s no doubt that Turkey is emerging as the most popular location for British ex-pats.
But why is this the case, and what are the main reasons to encourage Brits to relocate to Turkey? Let’s find out!
1. The Mediterranean Lifestyle
Let’s start with the basics, Turkey offers ex-pats access to a Mediterranean lifestyle, sun-kissed weather, and fascinating cultural heritage.
There’s also an incredible meld of cultures in Turkey, which combines the very best of Southern and Eastern European influences while also drawing from the Middle East.
The average temperature during the summer is also slightly higher than in the UK and relatively consistent at around 23 degrees Celsius (73 degrees Fahrenheit). The average winter temperature is also slightly higher at -2 degrees Celsius, although the climate in the Black Sea area tends to be warm and humid overall.
While some regions have hotter climates, the weather in Turkey isn’t too far away from that in the UK, making it a place to transition too more easily when relocating overseas.
2. The Low Cost of Living
Turkey also offers a relatively low-cost way of living, with this advantage particularly pronounced for those whose domestic currency is historically strong.
For example, ex-pats who typically spend in dollars, pounds, or the Euro can leverage the relative and consistent weakness of the Turkish Lira, which continues to underperform when compared with an entire basket of wider currencies.
Interestingly, you can use a demo trading account to understand the relationship between these currencies further, helping you to cost your move and make the most of your potential savings.
This can help to exacerbate the relatively low cost of living and minimal property prices in Turkey, which fares well even when compared to similar nations in the Mediterranean.
3. Turkey is a Major International Transport Hub
While Turkey may be further than other European destinations that are popular amongst Brits, there can be no doubt that it’s also a significant transportation hub with tremendous connections.
This is largely thanks to the location and status of Istanbul, which is renowned as a viable bridge between the east and the west and has emerged as a city of huge geographical influence in recent times.
To this end, the Istanbul Ataturk Airport saw a passenger increase of more than 300% between 2010 and 2015, while this number is continuing to grow incrementally with every passing year. This has also prompted the design and the development of the ambitious Istanbul New Airport structure, which is expected to be the largest in the world upon completion.
As access to Turkey from across the globe becomes increasingly commonplace, it will become more attractive to ex-pats who can relocate there whilst easily maintaining physical contact with loved ones back home.
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