Maybe there will be some money-savvy Europeans that can give some good insight on this topic;
Maybe there will be some money-savvy Europeans that can give some good insight on this topic;
With the debt crisis in Greece and now Spain, everybody is talking about the falling value of the Euro. Last I checked, it was $1.19 USD to 1 Euro, the lowest I've ever seen it. So, while this may be bad for Europe, I'm wondering if this is presenting a good time for the rest of the world to travel to Europe, with our currency having a better exchange rate against the Euro than it has before.
My question is, will prices on things go up in Europe now that the currency is weaker (really, making it not at all cheaper for me to visit now) or do you think prices will stay the same as they were before the debt crisis? I figure, if I'm planning on visiting Europe in the next couple years, this year would be the best time to go if it will be more affordable due to the good USD/Euro exchange rate.
Opinions, please! Thanks!
Usually over time this kind of drop will affect pricing, but not that fast, so it's definitely cheaper to visit Europe this summer than it was last (if you are coming from somewhere like the US for example, there are probably still currencies that have done worse than the EUR too). Anything that has to be imported will probably go up as soon as supplies are used up, but for things like hostel stays it makes little to no difference. By the way, I think they'll be on par by the end of the year, or at least that's what I predicted about 8 weeks ago
Prices wont necessarily go up or down and generally it's good for the exchange. A few weeks ago in the UK we were getting €1:04 to the pound. Today it's nearer €1:16. It's nice if (like me) you have a € bank account. It means that for every £ you put into it, you get a lot more € for your sterling.
Rumours are that possibly some countries may be applying soon to scrap the €. We'll see.
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