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Low exchange rates have always been a tempting reason for travelers to visit a destination. The cost of souvenirs, hotel stays, restaurants, and even splurges on a private tour don’t hit as hard when your local currency in a foreign country gives you more bang for your buck.
And as the exchange rate between the euro and the US dollar hit a new low in recent months – the lowest in more than 5 years – American travelers have the opportunity to save when traveling to Europe this summer. .
USD-Euro exchange rate forecast for 2022
According to a report from Yahoo Finance, this new low doesn’t seem to be going away anytime soon. The US dollar has already jumped to 1.04 to the euro from 1.05 earlier this week, and some financial experts are predicting that the value of the euro will continue to fall until it is at par with the dollar American by the end of the year.
What does this mean when it comes to travel? This means that things will be a little easier to budget for an upcoming trip to Europe.
Travel is more open (and more expensive) than it has been in two years
The low euro/USD exchange rate is good news for American travelers looking to take a trip to Europe this summer.
With flight prices for international and domestic travel rising around the world, not to mention the US inflation rate hitting its highest level in nearly 40 years, budgeting for that much-needed summer adventure this year may seem a little more complicated.
Just as travel has rebounded, in some ways it seems less accessible.
While travel restrictions have been lifted across most of the continent, it has been easier for American travelers to visit Europe for more than two years since the pandemic began.
From the removal of these current entry requirements to the removal of mask mandates in outdoor and indoor public spaces (including flights within Europe), travelers can prepare for a much more stress-free travel experience in this concerning the technical side of things.
Travel Europe cheaply in 2022
In recent years, the USD/euro exchange rate has generally averaged around 1.20. Higher exchange rates can really increase your daily expenses. Whether it’s booking your last-minute hotel stay in Rome, a train trip from Germany to France, or breakfast at a local cafe in Paris, a high exchange rate between the euro and the dollar can hit hard when considering your travel budget.
As the Euro and US Dollar approach parity, American travelers can save almost 20% on their European vacations in 2022. In addition to choosing a more affordable European destination this year to combat rising prices for flights and inflation, the low exchange rate Fare is another opportunity for travelers to stick to their budget.
Average prices in Western Europe in 2022:
To give travelers a rough estimate of the impact the weak exchange rate can have on their vacation, here is a look at average property prices in France and Spain.
Remember that this exchange rate counts for countries in Europe where the Euro is the primary form of currency (this includes the countries of Sweden, Denmark, Croatia, Czechia, Norway and of Poland, for example).
Average cost of goods in France:
- Cappuccino: €2.80
- Bus: €1.60
- Baguette: 1 euro
- Bottle of soda (12 oz): 2.60 euros
- Pint of local beer: 6 euros
- Taxi: 2.50 euros departure and 2.85 additional mile
Average cost of goods in Spain:
Loaf of bread: 0.91 euro
Local beer: 3 euros
Bottle of soda: 1.78 euros
Taxi: 3.50 euros to start and 1.70 per additional kilometer
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Disclaimer: Current Travel Rules and Restrictions may change without notice. The decision to travel is ultimately your responsibility. Contact your consulate and/or local authorities to confirm entry of your nationality and/or any changes to travel conditions before travelling. Travel Off Path does not approve travel against government advice