If you've been bitten by the post-Covid travel bug, it might be time to cash in your gelato savings fund and head abroad. 🧳✈️
The value of the euro has gone way down and it's almost toe to toe with the dollar. Which means you might even have some extra cash for a pair of custom Italian loafers! We'll also settle for an extra gelato. 🍧
Here’s Five Fast Facts on what's going on with the price of European travel:
- 💲 Dollar Dollar Bill Y'all - The Euro is currently valued at just a few cents above the dollar, its lowest in over 20 years. Some experts say it's trending to eventually equal the dollar.
- 📈 Raise The Roof - Europe has been slower to raise interest rates, while we're already doing so in the states. However, the European Central Bank is expected to start raising them in the near future.
- 😵 Negative Energy - Natural gas prices in Europe are the highest they've been since Russia cut the gas lines in March. Adding to the gassy problems are Norwegian energy workers who are also about to strike. This perfect storm is what's keeping energy costs so high overseas, and costing businesses a fortune to keep the lights on.
- 🩴Flip Flop - When the dollar is stronger than the euro, it makes US products more expensive overseas. It also gives foreign products a price advantage in the states.
- ⚠️ Proceed with Caution - While the euro is the cheapest it's been in decades, don't let that be the only deciding factor in your travel plans. Airports are a bit of a hot mess at the moment.
🔥Bottom line: It's a great time to head to Europe on the cheap if you can swing it. However, the world isn't exactly...stable at the moment so take that into consideration. If you're up for the adventure though, bring us back an extra gelato.
Are you heading to Europe this summer? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!
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