Daily Insider: Cheap holiday destination for South Africans, courtesy of economic ignorance

START YOUR MORNING BY LISTENING TO TODAY'S BIZNEWS BREAKFAST BRIEFING – Tech stocks rally hard after JSE slumps; Bacher nibbling; Attacking cadre deployment..Catch up with the latest on BizNews.com.Listed property being crushed by ANC policies (and a small virus) – Magnus HeystekMeet RW Johnson – SA's outspoken political conscience, the Oxford Don few really knowFrom DA Lifer to an ActionSA leader – the unretiring of 'conviction politician' Athol TrollipE-tolls decision by October? Don't hold your breath, according to OUTAWhy financial planning for women is a top priorityThe cable has landed.Thinking of a cheap holiday abroad? Even for us, Turkey is a bargain.We South Africans are accustomed to paying ever more for our foreign currency on overseas travels. Moaning about how much stuff costs abroad is almost a national sport. So share a thought for our fellow Sapiens who live in Turkey, the unfortunate souls labouring under the yolk of a Jacob Zuma think alike president called Recep Tayyip Erdogan. The country has been in the grip of the now 68-year-old's iron fist since 2003 (first 11 years as prime minister). .Erdogan's refusal to accept cast iron laws of economics is witnessed through numerous idiotic edicts which have cost his nation dearly. Latest is refusal to accept higher interest rates curb inflation. Instead, he ordered the central bank to cap borrowing rates. Result: Turkey's inflation is 78%, its currency down by half in the past year and the economy is in a tailspin..The graph above from EasySoft tells us something else. Turkey is a wonderful destination for South African tourists (those not skittish about the nearby Ukraine War) who will be amazed at how far their Rands will now travel – you get four times as many Lira today than five years ago. A word of caution though – after converting into local currency, be sure to spend the cash fast. At 78% inflation, Turkish Lira depreciates real fast. .UPCOMING EVENTS – SIGN UP NOW .BizNews Conference .The BNC#4 house full signs have temporarily been removed. Some rooms have been freed up through our team finding alternative accommodation and a few early bookers not meeting their deposits. If you want to stay on-site, here's your chance. But please act quickly, because the hotel's rooms are sure to be fully allocated soon. Click here for all the details and to register your interest..data-title=" WATCH: Former Google executive, and Board member (Discovery Bank & CSIR), Stafford Masie talks cryptocurrencies with Alec Hogg.".To receive the Daily Insider every weekday at 6am in your inbox click here. You can also sign up to the weekend's BizNews Digest for a wrap of the best content BizNews has to offer, for a leisurely Saturday read.

Daily Insider: Cheap holiday destination for South Africans, courtesy of economic ignorance

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