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Out of many, one: The Benjamins Baby.
Let’s face it. The world of travel is a mess right now. Rising gas prices are putting road trip budgets at risk. Flight prices are skyrocketing. Airlines around the globe are facing record-breaking cancelations, delays, and pilot strikes. Not to mention lost luggage is on the rise.
Despite this summer’s particular travel struggles, there is some good news for Americans making their way to Europe. For the first time in 20 years, the euro and the U.S. dollar are of equal value.
In previous years, American tourists in Europe had to resign themselves to paying higher prices and calculating the exchange rate with every purchase. They see what they’ll get this year with $1 = 1 euro.
According to The Points Guy, that’s a 15% discount compared to last year when the exchange rate was $1 to 1.19 euro, and a 12% discount since earlier this year when $1 would get you 1.13 euro.
Several factors are contributing to the fall of the euro, including fears of further gas restrictions throughout Europe. Russia has already cut off supplies to Bulgaria and Poland, and the dollar is simply rising in value.
Experts expect the dollar will continue to rise, presenting the perfect opportunity for travelers interested in heading to Europe. For those who travel to stock up on Europe’s often lower-priced luxury goods, the exchange rate will help them for now. However, companies such as Chanel and Louis Vuitton, among others, are known to adjust their prices to account for fluctuations in the currency exchange.
Either way, it’s looking like there’s never been a better time to visit Europe. Just be sure to book flights, especially accommodations, in advance as the demand is high and supplies are limited.
Jessica is a freelance journalist on a quest to see and experience everything our gorgeous planet offers and share her experiences with her fellow travelers. Jessica has written for several world-class Travel Magazines.
