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Put aside for a moment all the issues associated with flying overseas right now – the delays, the cancellations, the ever-growing problems of pilot shortage baggage handler shortage, and even the rising airfares due to escalating fuel costs.
Now think about this – for the first time in almost 20 years, the U.S. dollar and the Euro are worth the same amount.
It just begs the question, is this the right time to travel to Europe?
The savings aren’t tremendous, about 14 percent on average according to the Washington Examiner, but they do add up over time.
For instance, the Examiner found that a five-course tasting menu at the Le Jules Verne restaurant at the Eiffel Tower in Paris is about $207 – down from the $235 it would have cost in 2020.
“I think this will be a really good opportunity for more Americans to travel to European countries,” Youcheng Wang, dean of the University of Central Florida’s Rosen College of Hospitality Management, told the Examiner.
Added Larry Yu, a professor of hospitality management at George Washington University: “Typically in travel, a weaker currency attracts people to your country.”
France, in particular, has enjoyed a robust return to tourism and many say visitors from America are the reason.
But not everybody is convinced.
“The Euro falling a bit here does have a positive effect on a traveler’s decision to take a big trip to Europe,” Stephen Scott, CEO of Travel Hub 365 & the Odyssey Travel App, told TravelPulse. “In recent weeks we have had customers talk about that being a factor for close-in trips, but not so much for trips being planned further out. Other current factors that the industry is dealing with continue to overpower this news though and it is disrupting the desire to travel.”
Other factors might also come into play.
“The euro popped (Tuesday) on the slight possibility that the ECB would consider a 50 basis point hike,” John Doyle, vice president of dealing and trading at Monex USA, told Reuters News Service. “I think expectations of that have waned a bit this morning especially with the energy crisis back in the headlines.”
The bottom line?
“You’re saving beaucoup bucks,” Peter Vlitas, executive vice president, partner relations, Internova Travel Grou, told Barrons.
For the latest insight on travel around the world, check out this interactive guide.
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