Strong Dollar Makes 2015 The Best Year For Americans To Travel Across The World
For many Americans, who might have been putting off a trip abroad because of high expenses, there is good news. A stronger dollar is cutting down the cost of their travel. That includes pricey hotel rooms to trendy beer in Europe, Japan, India and elsewhere. Travel pundits are unanimous that Year 2015 is the best time for Americans to travel. This is also the view of Matt Kepnes, author of "How to Travel the World on $50 a Day." It sounds more valid in the light of the gains being made by American dollar compared to other global currencies.
Many economies in the word are in turbulence with their currencies becoming less valuable now. Economic growth is under stress in many regions of the world. Europe is barely growing. Japan is under recession. China has already slowed. Amidst this gloom, the U.S. economy has picked up with obvious gains for the dollar. Many economists expect the renewed U.S. economic growth will compel the Federal Reserve to raise interest rates and dollar investments will become sought after and traders will shed other currencies to chase dollars, reported Seattle Times.
Affordable Hotels
The price advantage awaiting an American traveller can be illustrated by this example on Paris. In June 2014, a nice dinner for two people in Paris might have been for 75 euros with the cost having soared to $103 by September. Today the same is available at $89. This means, expensive countries may not become damn cheap though they turn affordable. In England too, the decline of pound has made things cheaper than six months before. In short, slump in Euro has made most of continental Europe coming at a bargain for the American tourist. Travel writer Kepnes advocates Greece as an attractive destination because hotels are slashing prices to fill the rooms. The same is happening in Portugal as well as parts of Spain.
The Fox News in a report explained the nitty gritty of American advantage in foreign travel. Its report noted that euro has hit a nine year low in 2015 with the value standing at $1.20 per dollar, signaling a 25 percent crash compared to 2015. At the ground level, it translates into a cost cushion for the American traveller in terms of buying stylish hotel rooms or spending money on the ground if not in cheap airfares. The report also advocates that a search in any online travel site will show up four-star hotels in the heart of Paris coming for less than $200 dollars per night. This means the strong U.S. dollar is expanding the budgets of American travelers by 20 at least percent and is enhancing the purchasing power.
Cost Effective Flights
As for savings on airfare, expecting a cut in fares during summer will be out of place, as demand is so strong that most airlines can sell seats without any price cuts. "The summer fares are expensive," says George Hobica, founder of travel website airfarewatchdog.com, but he hopes a fare cut is possible in the spring, as an incentive to the strong dollar that may discourage Europeans and Asians from flying to the U.S.