Heads Up, Travelers: Euro Strong Against the Dollar
It's a good time to scoot to Europe, if you're willing to brave possible flight delays.
As of Monday afternoon, one Euro was worth $1.02 US dollars.
The relative weakness or strength of global currencies reflects how an economic region is doing.
Europe is in relatively bad straits with anxiety about Russian fuel, and the European Central Bank has not raised interest rates as quickly as others, the BBC reported. When interest rates are raised, currency often to get a boost. This is the case when it comes to the Federal Reserve raising interest rates in the US, the BBC added.
However, it remains good news for travelers from the U.S., because dollars can buy more in the region. At the same time, plane tickets and travel, in general, have gotten more expensive and delay-prone. Heathrow put a cap on daily passengers, for example, at 100,000.
Ann Castagna Morin, founder of Your Dream Vacation, for her part, told Entrepreneur it's still worth it for US travelers to go to Europe.
"I can remember... it being a total sticker shock," when she traveled when the dollar was weaker compared to the Euro, Morin said. She said she calculated on an upcoming trip, because of the dollar's strength, she's basically getting a night free.
As for delays, she advises people to look up alternate flights ahead of time and approach airline help desks with them.
Putting an Apple AirTag in your luggage so you can know exactly where it is if it gets lost, Morin added.
Entrepreneur Editors' Picks
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
The 5 Personalities You Meet in a Coworking Space
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising