Low fees are always a tempting reason for travelers to visit a destination. The cost of souvenirs, hotel stays, restaurants, and even spending on a private tour is less so if your money at home in a foreign country gives you more bang for your buck.
And while the exchange rate between the Euro and USD has hit a new low in recent months – the lowest it has in more than 5 years – American travelers have a chance to save during a trip to Europe this summer.
Forecasting USD-Euro Conversion Rate For 2022
According to a report by Yahoo Finance, this new low is unlikely to disappear any hour. The US dollar has already jumped to 1.04 for 1 euro from 1.05 earlier this week, and some financial experts predict that the value of the euro will continue to decline until it hits the US dollar. at the end of the year.
What does this mean when it comes to travel? This means things will be much easier for budgeting future travel to Europe.
Travel Is More Open (And More Expensive) Than In Two Years
The low euro/USD exchange rate comes as good news for U.S. travelers looking to travel to Europe this summer.
With flight prices for international and local trips soaring around the world, not to mention the U.S. inflation rate being at a nearly 40 -year high, budgeting for that much -needed summer adventure this year seems more complicated.
As travel returns, in some ways it seems less accessible.
As travel bans have been lifted on much of the continent, it will be the easiest for Americans traveling to visit Europe in more than two years since the pandemic began.
From scrapping ongoing entry requirements to removing mask mandates outside as well as inside public spaces (including flights to Europe), travelers can prepare for a better much less stress -free travel experience when it comes to the technical side of things.
Travel To Europe Cheaply In 2022
Over the past few years, the USD/euro exchange rate has typically averaged around 1.20. Higher fees can add to your daily expenses. Whether it’s booking your last minute hotel stay in Rome, a train ride from Germany to France, or breakfast at a local cafe in Paris, a high exchange rate during the euro and the dollar can be a big hit in reviewing your travel budget.
As the euro and U.S. dollar inches are on par, U.S. travelers will save nearly 20% on their European vacation in 2022. In addition to choosing a cheaper European destination this year to overcome the rising demand. flight prices and inflation, low turnover. rate is another opportunity for travelers to stay on budget.
Average Price In Western Europe In 2022:
To give travelers a reasonable estimate of how big the impact of the low exchange rate will be on their vacation, here’s a look at the average prices of goods in France and Spain.
Note that this exchange rate counts for European countries where the euro is the main form of currency (this includes the countries of Sweden, Denmark, Croatia, Czechia, Norway, and Poland, for example).
Average cost of goods in France:
- Cappuccino: 2.80 euros
- Bus: 1.60 euros
- Baguette: 1 euro
- Bottle of soda (12 oz): 2.60 euros
- Pint of local beer: 6 euros
- Taxi: 2.50 euros starting and 2.85 additional miles
Average cost of goods in Spain:
Bread: 0.91 euros
Cappuccino: 1.65 euros
Local beer: 3 euros
Bottle of soda: 1.78 euros
Bus: 1.40 euros
Taxi: 3.50 euros to start and 1.70 per extra mile
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Disclaimer: Current travel rules and restrictions is subject to change without notice. The decision to travel is ultimately your responsibility. Contact your consulate and/or local authority to confirm entry of your nationality and/or any changes in travel requirements before traveling. Travel Off Path does not endorse travel against government advisory