Low exchange rates have always been a tempting reason for travelers to visit a destination. The cost of souvenirs, hotel stays, restaurants, and even splurging on a private tour doesn’t hit as hard when your home currency in a foreign country gives you more bang for your buck.
And as the exchange rate between the Euro and USD hit a new low in recent months – the lowest it’s been in over 5 years – American travelers have a chance to save during a trip to Europe this summer.
USD-Euro Conversion Rate Forecast For 2022
According to a report in Yahoo Finance, this new low doesn’t appear to be going away anytime soon. The US dollar already jumped to 1.04 for 1 euro from 1.05 earlier this week, and some financial experts are predicting that the value of the euro will continue to drop until it’s at par with the US dollar by the end of the year.
What does this mean when it comes to travel? It means that things will be a little easier for budgeting an upcoming trip to Europe.
Travel Is More Open (And More Expensive) Than It’s Been In Two Years
The low euro/USD exchange rate comes as good news for US travelers looking to take a Europe trip this summer.
With flight prices for international and domestic trips rising around the world, not to mention the US inflation rate being at an almost 40-year high, budgeting for that much-needed summer adventure this year may seem a little more complicated.
Just as travel bounced back, in some ways it seems less accessible.
As travel restrictions are being lifted throughout most of the continent, it’s the easiest it’s been for American travelers to visit Europe in over two years since the start of the pandemic.
From scrapping those ongoing entry requirements to removing mask mandates in outdoor as well as indoor public spaces (including flights in Europe), travelers can prepare for a much more stress-free travel experience when it comes to the technical side of things.
Travel To Europe On The Cheap In 2022
Over the past few years, the USD/euro exchange rate has typically averaged at around 1.20. Higher exchange rates can really add up for your daily expenses. Whether it’s booking your last-minute hotel stay in Rome, a train trip from Germany to France, or breakfast at a local cafe in Paris, a steep exchange rate during the euro and the dollar can hit hard when reviewing your travel budget.
As the euro and US dollar inches to being at par, US travelers can save almost 20% on their vacation to Europe in 2022. On top of choosing a more affordable European destination this year to combat the rising flight prices and inflation, the low exchange rate is another opportunity for travelers to stay on budget.
Average Prices In Western Europe In 2022:
To give travelers a rough estimate on how much the low exchange rate can impact their vacation, here’s a look at the average prices of goods in France and Spain.
Remember that this exchange rate counts for countries in Europe where the euro is the main form of currency (this includes the countries of Sweden, Denmark, Croatia, Czechia, Norway, and Poland, for instance).
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 extra mile
Average cost of goods in Spain:
Loaf of bread: 0.91 euro
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 can change without notice. The decision to travel is ultimately your responsibility. Contact your consulate and/or local authorities to confirm your nationality’s entry and/or any changes to travel requirements before traveling. Travel Off Path does not endorse traveling against government advisories