It could be time to dust off your suitcases and plan an overseas trip.
Europe, long known for its $9 coffees and $45 cocktails, has come down a notch.
The Euro has fallen to a nine-year low against the dollar, making international travel – especially to continental Europe – a relative bargain.
“This is one of the best times for Americans to travel in years,” says Matt Kepnes, author of “How to Travel the World on $50 a Day” and other travel books,” when interviewed by ABC News.
Investors across the globe are bidding up the price of the dollar in anticipation of higher U.S. interest rates down the road. Currencies paying higher interest rates are more valuable in international finance, and while Euro rates are heading downward, financiers bet that U.S. rates are heading up.
Here’s how it all plays out, according to travel writer Kepnes:
“Let’s say that in June you had a charming dinner for two in Paris for 75 euros. First, congratulations. Second, it cost $103 then; today it would be $89. Expensive countries may not be cheap, but at least they’re more affordable now.”
London, Paris and other European capitals are still among the priciest travel destinations in the world, but clever travelers are now in a good position to snag some relative bargains.
The optimum time before departure to get the best deal on airline tickets is now 57 days.
For domestic travelers, the best day to purchase low-cost airline tickets is now Sunday.