The strong dollar is making European travel very attractive right now — with one important caveat
Staff, 2022-09-27 13:07:00,
Many Americans, facing record-high inflation and interest rates, can’t afford to travel right now. But for the lucky ones who can, this might be the perfect time to book a trip to Europe.
The British pound fell to an all-time low against the U.S. dollar Monday, and the euro, which slid below parity with the dollar this summer, also remains weak against the greenback.
As a result, U.S. travelers who are able to jump on a good deal can take advantage of this moment to jet across the Atlantic and stretch their dollars further, saving money on food, souvenirs and other goods purchased in the local currency.
The opposite, of course, is true for travelers coming to the U.S. from Europe and other places, as well as for countries that borrow money in U.S. dollars because their own currencies are more volatile.
“It’s certainly the best-value time to be going [to Europe] that we’ve seen in decades,” Scott Keyes, the founder of Scott’s Cheap Flights, told MarketWatch. “The U.S. dollar compared to the euro or the pound over the past six months is 20% improved, and what that means is that if a hotel night had cost you $100 six months ago, you’d be able to get that same hotel — assuming the [local] price is the same — for $80.”
“‘If a hotel night had cost you $100 six months ago, you’d be able to get that…
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