With high fuel prices, inflation, soaring airline fares, is it all bad news?
The answer is not necessarily.
Once you leave the U.S, in many destinations the U.S. dollar is king.
In Europe, the euro is down to $1.05 — the lowest it’s been since 2017.
If you track the U.S. dollar against many foreign currencies, it’s at its highest level in 20 years.
Look at the U.S. dollar versus the Argentinian peso. And then look at the cost of goods and services — everything from a restaurant meal to a tube of toothpaste to a taxi ride, and Argentina becomes an eminently affordable trip.
The same is true in South Africa.
And then there’s Turkey. The Turkish lira has been devalued so many times that the cost of a summer trip to Turkey — in real dollars — has dropped by a whopping 36% this year.