maletas

I need an idea how bad its going to be next summer when I go to Spain. Its a bit discouraging to constantly see how much more my 2 week trip will cost for next summer. I am renting an apartment and the price increases each week because of our stinking and sinking dollar. I was in Spain last summer as well but the dollar gained a bit while I was there and prices were ok. I read in a Bloomberg reported that the dollar is" poised for a further decline" Isnt that just great!!!
When I was in France in 1996, the dollar was low but things were pretty much affordable. I wonder if today's dollar exchange is comparable to those days in the mid 1990's? Any comments or words of incouragement?

AAFrequentFlyer

Just cancel, and you won't have to worry anymore.

ben_haines_london

You headed this as a call for comment on prices in southern Europe, and I am glad to respond that Bulgaria and Romania cost a third of Spanish prices, and Serbia costs a half. If you will tell me what you look for in Spain I shall tell you where you can find it in the Balkans.

Welcome to the cheap parts of Europe.

[email protected]

Jack31

Prepare to pay. The dollar is very bad compared to the EURO. Everything now is VERY expensive. I would suggest going somewhere that doesn't have the EURO and the dollar still is worth something. I agree with Ben. I had a great time in Bulgaria. Dollar goes a long way there. I would suspect that the dollar will eventually get a little better but there is no way to predict that.

Patrick

OK, here is just one example.
In New York City, a standard room at the Marriott Marquis is currently $369 including the taxes. A room at the Munich Le Meridien, a fantastic hotel which has far nicer rooms and is much nicer and newer, is currently 189 euros which includes all taxes. So when I add the 20% because of the falling dollar, I'm actually paying about $238, or in other words I'm getting a much nicer hotel in Munich than I got in New York for $130 less.


While it is true that it takes more dollars to get the euros, it is not necessarily true that things in Europe will be more expensive. You can still get really wonderful charming hotels in the heart of Paris for less than $200 US. Frankly I don't know of any comparable hotels with so much character and charm you can get for that in New York -- or Los Angles for example.

Of course there are always great deals everywhere -- in the US and in Europe if you want to look for them. I suggest if the money is an issue, that you try harder to find the deals, but I'll stay say (and I know I'm sounding like a broken record here) that I still spend a lot more when I visit New York, San Francisco, or Los Angeles, than I do when I visit Paris, Rome, or Venice, falling dollar or not.

Scarlett

Try planning a trip to Tokyo-everything will seem to be a bargain after that!

Christina

I don't know about southern Europe, but right now the USD is worth a bit more in France than in 1996 when it was really low (1 USD was 5.12FF that year, on avg, although I think it went up at the end of year). It's now worth .835 euro or 5.47 francs.

Of course, prices have risen with inflation in Europe as in the US over that many years, but prices in southern Spain seem to me a bit less than in urban France.

The USD has dropped in comparison to a lot of currencies, not just the euro. You can't avoid that by going to some country where they don't use the euro. I think sometimes people confuse low prices or cheap countries in general (ie, Bulgaria) with exchange rates. The USD buys only 1.63 Bulgarian Lev today in comparison to 1.97 a year ago, for example, a drop of 17 pct. The USD has dropped about 17 pct against the euro over that year, the same as against the BGL.

JonJon

In a nutshell, EVERYTHING is more expensive now than it was then and not just in one region of the country.
You gotta decide: go and hope for the best or don't go at all. I'd opt for the former.

maletas

Thank you for the posts!! I would hate to cancel the trip and I wont do that unless it drops significantly more.
AAFrequentflier, are you cancelling your trip?

jsmith

maletas, UBS thinks the dollar will decline by another 10% against the Euro and Goldman Sachs is projecting a 20% decline.

I'm sure someone will say you can't predict the value of the dollar. Of course you can, you just may not predict it correctly.

kodi

I've tried very hard to bite my tongue, but couldn't!! As a Canadian, I've had to deal with horrible exchange rates for what seems like forever. I learned a long time ago, that once you decide to take a vacation, you just have to bite the bullit and not worry about the exchange rate. It will drive you nuts if you keep worrying about it. Just GO and enjoy.
Having said that, I'm so pleased that the CND exchange rate is so much better against the US$. IT will sure hope my Florida trip.

scubatv

OUCH!. Just finished looking at my bank ATM statement. OUCH!
If you can wait, wait. Consider moving a place you want to visit up the list. A place that has a weaker currency against the dollar.
The value is shot and it's on the high high now.

Degas

Just go and stop worrying about it. You start putting off trips and you end up not going at all. Start economizing now and by next summer you will have made up the difference. And if you get lucky, the dollar will turn around and you'll have even more dollars to spend. Life is too short to sweat the small stuff that you don't have any control over anyway.

Thyra

Well though this is a far cry from the glory days of the late 1990's I first backpacked through Europe in 1985 and I seem to recall 1 $ equalling 2.50 GBP... even on a backpackers budget that was a heck of a lot.
You know what.. you can either wait 4 more years until the prices turn round or you can just go.. Frankly, I would just as soon go.

Mike1966

I'm planning a trip to Spain in April and I, too, am concerned about the cost of the Euro. Would it make sense to buy Euros now at $1.20 rather than wait and take a chance that the rate will be $1.40 by the Spring?

AAFrequentFlyer

Thyra,

I wish I was there when you got 2.5BP for $1
I do believe you meant the other way around.

maletas,

I travel to Europe about 4-5 times a year, and I will be in London on Thursday , so no, I'm not cancelling anything, but if you are so worried about the exchange rate, I thought cancelling the trip may be your best option.

Jocelyn_P

Mike, if that strategy works you need to make a side trip to Vegas!

Thyra

Thanks AA FF for clearing that up! Yes you are indeed correct.. I had that backwards.. either it's a tribute to how tired I am today.. or how many pints I had in the UK back in '85!!

Happy travels....

Marilyn

The exchange rate is only part of the story. When I first traveled to England, one pound sterling cost about US$2.50. But things were less expensive. For example, we stayed in a decent B&B in London for under US$20.

Fast forward to today, when that pound sterling costs me at least 30% less, but I have to pay 4-5 times as much for the B&B.

Jayne11159

The dollar was very strong in 2000 when we traveled to France and the Netherlands. To make it even better we were in Paris during the summer sales and when I saw a table of half-price Limoge boxes in Printemps, I thought I was hallucinating. The exchange rate in Holland was even better and we took advantage on some great deals on loose diamonds. We're planning a trip to Italy this summer and I'm astounded at the cost as compared to our last trip. I choose to look at it like Patrick, and consider our $2,700 apartment in Rome for a week for our family of five a bargain as compared to the same in NYC.