Stronger exchange rates for the gaining U.S. dollar inspires families to open up their map and review their international travel bucket lists. Australia, Asia, Italy, Spain, and yes even the U.K. are all possibilities. For the first time in a long time the US dollar is strong, inspiring families to think outside their vacation box and explore the world.
When the U.S. economy tightens the purse strings of families, the first expense that usually gets cut is travel. This year, Americans are enjoying a rare upswing in the economy with a strong U.S. dollar in foreign countries creating the perfect travel storm — more vacation for your buck. More and more American families are traveling abroad, and it’s a good time to travel, thanks to the rallying of the U.S. dollar.
Early in 2015, the Euro (EUR) hit a 9 year low. In 2014, $1.50 US would get ONE Euro! (Yeah, that was depressing!) Today that Euro exchanged against the U.S. Dollar is roughly $0.9186, gifting travelers with almost 10 percent in spending bucks. (Can someone say Hello to Merry ol’ England?)
In fact, the U.S. matched against nearly any foreign currency will put a little more jingle into your international vacation, and perfect timing to take your family abroad on a summer vacation.
Other foreign currencies lagging behind the U.S. are also hitting the top 10 lists of travel destinations for family, such as Asia. China, Japan, and Thailand offer families unsurpassed cultural and historical experiences, with the bonus of exchange savings at record highs.
Our neighbors to the North (Canada) have always played tug of war with the value of the Canadian dollar versus the U.S. This year, the strong U.S. dollar against Canada can increase the purchasing power as much as 20 percent.
Our neighbors to the South (Mexico, Latin America and South America) are also largely lagging behind, with another big stretch of your vacation dollars, even pushing the envelope higher. For example, the Mexican peso to the U.S. dollar is now at almost 15 to 1.
Ready to pack your bags yet?
A little Debbie downer moment. Don’t get too excited! Even though exchange rates are lower, airfares can still put a crimp in your budget. When paying in foreign currencies, travelers will see the discount in hotels and on the ground expenses, such as dining, tours, and souvenirs. But there are still 50 ways to save money on you international travels. (TIP: Bring your credit card with little to no foreign currency exchange rates.)
Ok, now really. Go ahead, pack your luggage, and pull out the Atlas or the pretty blue globe, and plan your travels to an international destination!