Europe is cheaper for American travelers than it has been in years heres how much you can save right now
This spring, you’ll be getting more baguette for your buck.Americans traveling to one of the 20 countries within the European Union’s Eurozone — including Italy, Portugal, Spain, France and other destinations popular with overseas travelers — can expect to save significantly during the coming months.With the current exchange rate at $1.03 to €1.00, finding a travel bargain on the continent is easier than it has been in years — compared to late September 2024, when you paid about $1.12 per €1.00, you’re getting a discount of nine cents on every dollar at the moment.
According to Afar, that means that a hotel that would have cost about $280 will now cost $256 — at least for the time being.All this is subject to fluctuations of course, but it’s looking like we’re in for a run of savings the likes of which we haven’t seen since pandemic times.And no need to rush off to buy a plane ticket — the favorable exchange rate could be with us for awhile, and perhaps even get better, according to the epxerts.
“The U.S.dollar has continued to defy gravity, rising 7% in 2024 despite two Fed rate cuts,” according to a recent report issued by J.P.
Morgan Asset Management.The dollar is expected to stay strong in 2025 for a number of reasons, analysts stated.Closer to home, that also means big savings north of the border — after a year-long downward slide, the Canadian dollar is worth about $0.69 to one American buck.
Last September, the USD was worth about $0.74 Canadian.And the news is good for travelers to the UK as well — those paying in British pounds will currently see the same savings you’ll enjoy across the Channel.
As opposed to paying about $1.33 for each GBP, you’ll now pay $1.22.Traveling within the next few months can save you even more money, with popular destinations along the Mediterranean, for example, costing a fraction of what they might during the peak summer months, where a growing number of Americans are competing ...