Europe, overall, has always been a continent of budget travel if you looked hard enough and especially as you moved east, but with the U.S. Dollar and Euro now at parity, your summer in Europe is a whole lot more affordable this year.
With USD And EUR At Parity, Americans Enjoy A Golden Opportunity To Travel To Europe
With interest rates rising in the U.S. at a pace that exceeds its global peers, the USD is now at a 20-year high and the USD and EUR have reached parity.
One practical result is that it’s a great time to visit Europe.
Flights to Europe are already running full this summer, but the fact that your strong dollar now means you pay less for food, drink, hotels, lodging, and even airfare itself marks a golden opportunity (though I would wait till shoulder season) to visit the capitals of Europe.
Europe’s far more sensible tipping culture also doesn’t add an absurd 20-25% surcharge to every bill. Furthermore, the price you see is usually the price you pay, with tax already factored into menu prices.
Tip: Don’t ruin the tipping culture in Europe by tipping like an American. Round up to the nearest Euro or limit tipping to 5-10%.
A strong dollar is not all good news, though. It makes U.S. goods relatively more expensive, harming exports and manufacturing. It also hurts the hospitality industry in the USA since everything here costs more to foreign travelers and Europeans might sensibly decide simply to refrain from traveling across the Atlantic.
But if you’ve been thinking about travel to Europe, now is the time to go. It’s a great time to enjoy the rich culture and beauty there without breaking the bank and I’d imagine this parity will not last forever (others disagree…we will see).