It has been a month but the dollar has again become stronger than the Euro. In the last month, the fluctuation caused the dollar to drop a bit but for the last couple of days, the dollar has begun gathering steam again. This is huge for this time of year so it is good news for American travelers to Europe!
The Dollar is Stronger than the Euro – Again
It is currently not by much but $1 is now worth a smidgen more than €1. There is no sign of this halting, either. This means that as Europe continues to fill with American tourists, Americans are going to find that their US dollar is going to go further than it did last year.
However, inflation continues to be a major problem. The stronger dollar means that you will be getting a better deal in Europe than you would have before but things may still cost a bit more than they did last summer (even though last summer it was €1 = $1.21).
The good thing is that it should continue to gain strength in the coming months and many are expecting airfare to drop in the coming months as well. That means that it could be one of the absolute cheapest shoulder seasons ever for travel to Europe!
If you want to stay up to date, head over to XE.com and put in an alert for a certain conversion rate. Remember that they are using mid-market rates for their conversion rates.
By the way, if you wanted to get a long-term resident permit/visa in some European countries (called a “Golden Visa”) and you have the money to swing that, this could be a great time to start looking. For Greece, it is a property investment of €250,000 and it gets you a 10 year Golden Visa.
While certain property values in the cities have gone up, there are plenty of properties in more rural areas, on islands, or in the north have really come down so you could get a property on the cheap (from what it was 2 years ago). People from Qatar, UAE, and China have really been taking advantage of this so the time to lock in a good deal on property could be sooner rather than later.