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A12 business
Saturday 16 July 2022

Europe as a budget-friendly travel

option? It's true in 2022

to essentially since the euro
launched," says Berg.
This means that anything
purchased while travel-
ing in countries that use
the euro will be at a 15%
discount, if currency ex-
change rates remain sta-
ble. U.S. travelers will enjoy
this benefit on everything
from food and lodging to
events and transportation.
Of course, global inflation-
ary pressures continue to
drive up prices everywhere,
Tourists take pictures in front of the Pyramid in the Louvre Mu- including Europe. Annual
seum courtyard in Paris, France, on June 20, 2022. consumer prices in Ger-
Associated Press many were up 7.9% in May,
according to the Financial
By SAM KEMMIS of Nerd- 2022 compared with May Times, just shy of the 8.6%
Wallet 2019, according to data increase in the U.S. Yet,
Flying to Europe this year from Hopper. while prices may remain el-
might sound as absurd as "Airfare this summer within evated nearly everywhere,
opting for premium gaso- the U.S. will cost $600 to the relative strength of the
line. With prices this high, $800," says Berg. "At those dollar can help soften the
is it really the right time to prices you can get to Reyk- blow.
splurge? javik, Iceland, or Dublin, Ire- PUBLIC TRANSPORTATION
"As a result of labor short- land." CAN HELP YOU SAVE
ages and all these things Indeed, flights from the U.S. Inflation has hit no aspect
going on, travel is more ex- to Europe were only up 13% of travel more directly and
pensive than it's been in a at the end of May 2022 dramatically than the cost
while," says travel journalist compared with the same of renting and operating a
Oneika Raymond. "Flights period in 2019, accord- vehicle. Rental cars prices
are really expensive. Ac- ing to Hopper . That trend were up a budget-busting
commodation is really ex- squares with tourist de- 69% in May 2022 compared
pensive. And revenge trav- mand, which remains be- with May 2019, according
el is a thing." low pre-pandemic levels: to U.S. Bureau of Labor Sta-
Although travel prices con- About 19% fewer U.S. trav- tistics data. And everybody
tinue to soar overall due elers left for Europe in May knows how high gasoline
to constrained supply and 2022 compared with May prices have jumped.
mounting demand, pock- 2019, before the pandem- These factors should make
ets of affordability remain. ic, according to data from this the summer of public
Europe represents one the International Trade Ad- transportation for money-
of these pockets, where ministration. conscious travelers. Yet the
weakening currency ex- Put simply, prices and de- U.S. offers few tourist des-
change rates against the mand for flights to Europe tinations that can be ex-
dollar and tepid demand are increasing, but not as plored by train.
have left prices relatively quickly as they are else- Not so in Europe, where
unscathed. In fact, flights where. most popular cities offer
within the U.S. have be- "Given how high domestic safe, affordable and de-
come so expensive this airfare is, you can get more pendable transit. Cities
year that some interna- bang for your buck with such as Amsterdam, Lon-
tional destinations, includ- longer-haul destinations," don and Copenhagen can
ing many in Europe, offer a explains Berg. be explored for only a few
relative bargain. THE DOLLAR IS STRONG euros, which is equivalent
"If you are willing to pay to Although 2022 may go to only a few U.S. dollars
fly domestically, check out down as a bear market with favorable exchange
international destinations," for everything from stocks rates.
suggests Hayley Berg, to cryptocurrency, the U.S. Visiting national parks in
lead economist at Hop- dollar has gained ground the U.S. made sense in 2020
per, a travel booking app. on many foreign curren- and 2021 for a host of rea-
"Because there is a good cies. The dollar was 15% sons. But saving money in
chance that there is a flight stronger against the euro in 2022 means skipping cars
to somewhere else in the May 2022 compared with outright when possible.
world for about the same May 2021, according to OFF THE BEATEN PATH?
price." data from the Federal Re- We are in strange times
AIRFARE IS LESS INFLATED IN serve. indeed when traveling to
EUROPE "Today what we're seeing is Europe represents an off-
Domestic airfare was 30% that a dollar can buy more the-beaten-path, budget-
higher at the end of May euros than it has been able friendly choice. q