![]() ![]() Overton added that within her company’s advisor pool, there are always clients looking for rooms in the $200 to $300 range in Paris, which wouldn’t have been possible a few months ago but can actually happen now given that exchange rate. ![]() “I had a client call me at home last night and say, ‘I want to pay for this right now!’ in case the exchange rate goes back up.” “Travelers who had been on the fence about pulling the trigger on trips have been suddenly ready to commit after seeing parity come into view,” she said. The silver lining is the advantageous exchange rate, Overton said. The figures were also a nearly 3% increase from the prior week. Recent hotel data backs up this trend, with hotels in Europe the last week in June performing 11% better than the same time in 2019, according to data from hospitality analytics firm Smith Travel Research (STR). There’s also an overall surge in interest, making everything seem “tight,” according to Overton. This is because some hotels remain closed after the pandemic and some properties are facing staffing shortages. The problem? Although interest is high, affordable hotel availability isn’t. She also noted that while summer is always a popular time for Americans to visit Europe, it feels “more urgent now” with travelers eager to return to pre-pandemic travel. “It would be difficult for there to be more interest in Europe than there is right now,” said Overton. This exchange rate was last seen nearly 20 years ago, in December 2002, and it's good news for anyone planning a trip to Europe this summer, according to Leslie Overton, the director of travel operations at travel advisor consortium Fora. The Points Guy will not share or sell your email. I would like to subscribe to The Points Guy newsletters and special email promotions. The dollar is expected to continue to increase in value against the euro. That’s coupled with “the twin headwinds of a surging dollar and sweeping COVID-linked lockdowns in China, a major market for bloc exports.” If you're wondering why the euro is losing value, according to a report from Reuters, a recession looms across Europe - the result of “Russia’s move to cut off gas supplies to Bulgaria and Poland” and the fear of gas restrictions throughout the rest of Europe. Get the latest points, miles and travel news by signing up for TPG’s free daily newsletter. That means once you arrive in Paris, Amsterdam, Rome or any other city in the 19-country European Union, you’ll be able to make purchases without running conversion charts in your head or worrying about the built-in markup on everything. With the strong dollar to the euro exchange, Americans will see a nearly 15% discount on purchases compared to the same time last year when the exchange rate was $1= 1.19 euro, and a 12% discount since the beginning of the year when the $1 = 1.13 euro. Trying to plan a European vacation but worried about ever-increasing travel prices? We have good news for you: For the first time in 20 years, the dollar is at parity with the euro.Īt press time the exchange rate is $1 = 1 euro. Editor’s note: This post has been updated with new information. ![]()
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