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Dollar vs Euro

I thought I'd bring some "wonderful" news to you all. Yesterday, the Dollar hit an all time low against the Euro--$1.52. And it's only going to get worse.

Perhaps it's time for Rick to do a new series starting with something like: "Cleveland Through The Back Door."

Posted by
1353 posts

Well Frank and Kent I sure hope it gets better before May, but I'm not counting on it. I think the exchange rate is effecting travelers. Our return flight in June got changed from a 777 to a 767 on American - I think because they had sold so few seats so far. I checked our outbound flight today for May 17th and it's not even 1/3 full.

Posted by
342 posts

Well, I have been planning a trip to Germany for almost a year and plans were finalized until this. So, my wife and I decided to pull the plug. Sad state of affairs indeed!

Posted by
25 posts

I realize the dollar is bad now, but what to do when you have already paid for everything in advance 8 months ago except to suck it up, enjoy the trip for 3 weeks and hope the next trip wont cost as much. We even bought the Euro at $1.45 to take with us so we saved a little money.

Posted by
11236 posts

The tour industry, in general, is reporting lower bookings for European tours. The good news is that more people are coming to the U.S. to visit, and spend money, thanks to the low dollar.

And to those who have already paid for a European trip....be happy. You got a good deal.

Posted by
8293 posts

"The tour industry in general is reporting lower bookings for European travel." Would that be lower bookings from Americans? Because I have read reports that tourism is on the increase in Europe with other-than-American visitors. So I guess it about evens out.

Posted by
7205 posts

To see your own currency sink to lows unheard of is not paranoia, but a sign of a faltering economy, inept leadership, and bad policy. This is not something that anyone needs to sit back and let happen with serenity. Bills have to be paid sometime and if not by you then by your children or grandchildren.

Posted by
342 posts

I am making the rational decision that this is not the time to go because of the deplorable exchange rate.

We fully intend to go again (we went to Europe each of the last three years), but when you have to add 50% to everything, it comes down to micro-economics. It's an individual choice, and I choose not to go under these circumstances.

Posted by
769 posts

I wonder if the Captain gets free-miles on his gas card for 22,000 gallons it takes!
thanks for that insider tip Kent! :P Yahoo just posted an article for one of the big airlines getting "yelled at" by environmentalists for flying empty - with only 5 people - to London from Chicago, on a 767!

Posted by
11236 posts

I just wanted to inform people that prices are going up for Americans traveling overseas and a little earlier planning, and paying for things, may save money in the long run. And even buying Euros now might be better than waiting. (sorry to those who insist the best exchange rate is buying them at your arriving airport, but exchange rates may mean nothing with the rising cost of Euross.)

By no means was I suggesting people stay home.

As a former pilot myself, it is actually cheaper to fly a 777 over the pond than a 767. But airlines move types of planes depending on projected load factors.

No one knows where airfares are going to go. Airlines that did not purchasing oil futures, like Southwest Airlines, will be in trouble because I can't see oil prices going down. With open skies in a couple of weeks, competition could increase. (con't.)

Posted by
11236 posts

And that might mean mergers in the airlines industry, or more sharing of flights among airline alliances.

Airlines don't make money on empty airplanes. But they also don't make money if they can't charge enough to cover their costs.

I predict lots of cancelled flights with pax being moved to other flights or even other airlines.

Which means to make sure your travel schedule is somewhat flexible.

And don't expect this to change anytime soon. It may take a few years. Our entire economy is going to have to turn around. Mostly we have to stop spending the way we are. This country has to cut back. Unfortunately, the three possible candidates for President, "Manny, Moe & Jacqueline," are all talking spending more.

Any Canadians out there willing to adopt me?

Posted by
3101 posts

It's not a pretty picture any way you look at it but Steve, do you really have to cancel your trip to Germany? If your budget was say, $5000. and the dollar costs 18% more than it did when Rick published his 2008 books where he quoted $1.30 to the Euro that would be $900. dollars more. Not a small amount of money but is it enough to make the difference between missing a trip to Europe and staying home? With a $3000. budget you would need an additional $540. I vote for going on more picnics to save money and go anyway!

Posted by
3101 posts

I know, Kent. I'm just afraid that it's going to get worse rather than better. I'll keep traveling if I can possibly afford it--even if it means simplifying things at home. I try not to dwell on the past--life is short.

Posted by
2000 posts

Right, we just have to find more and more creative ways to finance our "addiction" to European travel. We know we can't stop!

Posted by
11236 posts

I'm glad to see many people not let the poor dollar stop them from traveling to Europe.

But here's a question to many of you who have been to Europe numerous times.......

How many of you have run to Europe but have never really seen their own country?

How many of you have been to the Alps but never the Rockies? (This can pertain to the Canadians as well.)

How many have been to Yellowstone NP? the Grand Canyon? Washington DC? Driven the California coast?
The Blue Ridge Parkway?

We take a lot of this for granted perhaps because there isn't someone doing a TV series on these sights or it doesn't sound as "hip" to visit your own country.

For those who have visited these places, I'm sure you'll agree we have some amazing sights. For those who haven't, give it a thought. You might be surprised.

Posted by
61 posts

I agree with you too Frank. I have been fortunate to travel extensively in the USA before I was able to start traveling abroad. I've been to all but two of the lower 48, and to Hawaii. I've been to Yellowstone, the Grand Canyon, Olympia NP, Yosemite, and many others and live near the edge of the Smokies. Of all the wonderful things I've seen abroad, nothing can compare to the Grand Canyon and the other natural wonders that I've seen here, and that includes the Great Barrier Reef.

I believe in the importance of foreign travel. If I didn't, I wouldn't have spent a fortune traveling abroad for the last 12 years and taking my college students with me on several of those trips.
I know that there are those that would disagree, but I think it is equally important to know and travel your own country too.

Posted by
342 posts

Sharon - I appreciate your comments and I agree, to a point, that you can cut corners and make up some of the difference in the exchange rate. For example, we were planning to fly into Munich, spend a couple of days, then pick up a car and drive to Berchtesgaden and then up the Romantic Road and fly home from Frankfurt.

Hotels in small towns cost less than in big cities. But still, a €60 hotel would be $90.00 - and through all my research, €60 hotels are hard to find. Then you add the price of food - well, you see what I'm saying. We fully intended to buy food at grocery stores as much as possible, but there is a limit to that even.

It just came down to the point that my wife and I decided that it was not the right time. Heck, if nothing else, we can continue to save and go next year. The exchange rate may not be any better, but we would have more of a "cushion."

Posted by
61 posts

Keep that money coming into our economy!
We just had a group of students from England come for a yearly visit. After multiple trips to all local malls and Wal-mart, they contributed greatly. Of the 10 people on the visit, I think 7 had overweight bags on the trip home.

Posted by
8 posts

this is really bad news! how discourging! I have been planning my first trip to Europe for 8 years! only if i could have bought all my tickets and paid for reservations then!! haha!

Posted by
70 posts

You'll laugh, but we are doing just about anything legal to supplement our travel budget. We finally counted and rolled the change in the change jar, we'll be having a garage sale, no eating out until our trip, etc. to try to make up the differenece between what we projected and what we will actually be spending. But this trip is a celebration for us for very personal reasons, and we weren't going to let some weak dollar stand in our way.

Hours and hours and hours of homework, on this site and others, has also helped in finding reasonable prices where possible.

Posted by
2788 posts

Congraulations to Jill and all of you others who will still find a way to travel to Europe (or the US). I made my RS tour deposit (my 6th tour) last year in hopes of beating the rising costs. I will do whatever is necessary to cut my expensives so that I can continue to go to Europe (or elsewhere) every summer until they strap me into a "chair".