A Worse-Off Euro Means a Better Vacation

By Mark Tan

The Euro has been losing much of its previous value lately, and for American consumers, that means a lot. You may not realize how other country’s currencies can affect you, but if you pay attention, there is money to be saved, especially when travelling.

Why is the Euro losing value so quickly? There have been statements that the Euro has been experiencing deflation since late last year, and now countries are trying to stimulate growth by forcing inflation. When you see a country’s currency value slipping, they’re usually attempting to spark growth by devaluing it. Japan has often done the same thing, stimulating inflation in order to create more growth.

In short, what this means for the average American consumer is that it’s a great time to finally take that European vacation! Travelers are going to find that right now their dollar goes a lot further than in previous years. They can even save on things like the luxury goods that are imported from European countries, including fashion, cars, and more.

So where, exactly are the best deals right now? Articles from the Huffington Post, as well as CNN outline just how much you will pay to travel to certain cities per day compared to a year ago. The best deals can be found a little bit off the beaten path, but are still well worth looking into. Bulgaria, Ukraine and the Czech Republic are all among the cheapest cities, but there are still deals to be found in more frequented countries such as Italy, Germany, and Belgium.

The best way to find a great deal is to simply do your research and look for what this year’s prices are compared to last year. If a European vacation is something you’ve been dreaming of or saving for, it’s quite probable that this year is the best time to go. No matter where you go in Europe this year two things are for sure. You will leave with an amazing experience, and a little more cash in your pocket to boot!

Mark Tan is a Chicago-based financial advisor with Thrivent Financial, a financial services organization that helps Christians be wise with money and live generously. Learn more about Mark at www.mark-tan.com.