Overseas travel may have been thought of as “out of reach” for many American families. The US dollar’s exchange rate can mean the difference between the impossibility of a vacation, and one that is somewhat affordable. Until recently, the US dollar had been weak against international currencies, making international travel quite expensive. However, with a stronger dollar, more American families are taking advantage of the opportunity to travel to destinations that may have previously been out of reach with their budget.
So what does it mean to have the dollar is in your favor, exactly? It means that every $1USD will buy you considerably more than it would have a year or so ago throughout much of the world. Everything from accommodations, food, activities and other travel expenses will cost you less than if the dollar were weak. In short, you will feel “richer” in another country because your American dollars will exchange to a larger sum of the local currency. Calculate this sort of saving when paying for hotels, transportation and activities and it can add up to some substantial savings.
Europe is particularly appealing at the moment, as is much of Asia. Families can save even more money by traveling outside of the peak season. It is likely that the airfares will be the biggest expense for travelers, however the savings made elsewhere can make flights seem much less of a financial hit than they otherwise would be.
This is a good time for American families to get out and see the world. Traveling to exotic places that may have seemed out of reach before is indeed possible on a smaller budget today. The good times never last forever though, so if you’re considering that long sought after family vacation, it’s time to start planning.