Euro strength makes vacation in the USA and Asia cheaper!

Euro strength makes vacation in the USA and Asia cheaper!

Exchange course development has had a significant impact on the holiday planning of many travelers in the past few months. The euro can currently record significant profits compared to the dollar. Since the beginning of the year, the price has risen from 1 euro = $ 1.04 to 1 euro = $ 1.14. This strengthening of the euro is interpreted primarily in response to a weaker dollar. Explan expert Michael Pfister from Commerzbank emphasizes that confidence in the dollar has recently decreased. The euro compensated for the losses from the previous year when the course almost tended to parity.

For German travelers, this means that travel to the USA has now become cheaper. In Asian countries such as Thailand and South Africa, travelers can benefit from an advantageous exchange rate, even if the costs for flights to these regions have increased. On site, vacationers benefit from lower living costs. However, the situation in Turkey is more complicated. Despite the weak Turkish lira, the holiday costs have increased, which is largely due to high inflation. According to tagesschau.de , the inflation rate in Turkey has also increased significantly, which also affects pricing for German vacationers.

The current situation in Turkey

Turkey also remains a popular holiday destination in 2024, especially in regions such as the Aegean and the Riviera. These areas are particularly set to package holidaymakers and offer long sandy beaches and inviting bathing conditions. Nevertheless, the Turkish tourism industry is faced with current economic challenges, which are characterized by high inflation and the low lira course. The inflation rate in Turkey increased from 38% in June 2023 to 64.8% in December 2023, and for 2024 a further increasing trend is expected, which could influence the prices for hotels and restaurants. Reisereporter.de reports that the average prices for hotel rooms in Istanbul meanwhile 138 euros and in Antalya are 110 euros - an increase of 37.4% compared to 2022.

Despite the increased prices, the booking rate from Germany remains stable. German vacationers tend to save more on vacation than to do without when traveling. Bargains are particularly possible on individual trips, while flat -rate offers often remain expensive. Tour operators have started to offer new options, for example cheaper "basic packages" instead of classic all-inclusive offers. An innovative approach is to offer alcohol-free all-inclusive packages that have already been introduced by Russian tour operators.

Exchange rate and European vacation trends

While Turkey faces challenges, the general exchange rate development of the euro shows that travel within Europe is still attractive. Vacation in European countries remains the preferred goal for Germans. Since the introduction of the euro, however, exchange rate effects within Europe have decreased significantly. In view of the high inflation in Turkey and the increasing prices, it is advisable to think in the long term when planning vacation.

Overall, the current currency and inflation situation offers both challenges and opportunities for travelers. Further information and current developments on the topics of currency development and travel expenses can be found here .