In an era of high inflation, a vacation destination on the to-do list is cheaper than it has been in decades.
Travel to many parts of Europe is at bargain levels not seen in 20 years, according to CNN.
The bargains are the result of the fall of the euro, which is now valued at almost exactly $1.00, something that hasn’t happened in two decades. Some analysts even predict that the euro could eventually dip to a value of 95 cents.
Several factors contributed to the euro’s decline. They understand:
- A poor economy. Many parts of the world are at risk of falling into recession. But fears are heightened in Europe due to the war in Ukraine and the fact that Russia has cut off natural gas flows to Europe.
- Business issues. Rising energy prices seem to be hitting European manufacturers hard. A weaker euro helps to make European exports more attractive.
- Interest rate issues. While the United States has raised interest rates, Europe has lagged in this area. This makes the United States a more attractive place for investors to put their money.
Earlier this summer, Bloomberg gathered some popular European vacation staples and compared what they cost now with what they cost in 2019. They included:
- The Acropolis in Athens, Greece: $21 (down from $22.60 in 2019)
- Reindeer steak in Helsinki, Finland: $41.48 (was $44.07)
- Gondola ride in Venice, Italy: $84 (was $90.40)
European locations can be found among “10 of the Best Places to Travel After Retirement”. If you’re planning a trip this summer, stop by our Solution Center and find the best travel deals.
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