If you're an American visiting Italy, Greece or Spain this summer after a pandemic travel hiatus, you're in luck: Meals, hotels and tours are more affordable in dollars than they've been in years.
If you're an American visiting Italy, Greece or Spain this summer after a travel hiatus during the pandemic, you're in luck: Meals, hotels and tours are more affordable in dollars than they've been in two decades.
"I'm bearish on the euro until I see a headline that tells me global growth is going to pick up in a big way," Nomura strategist Jordan Rochester told me. He thinks the euro will hit parity by the end of August. The first is the economic outlook. Recession fears are rising globally. But Europe's proximity to the war in Ukraine, and its historic reliance on Russia to meet its energy needs, has made it more vulnerable than the United States.
Europe has also been behind the United States in raising interest rates, though the European Central Bank expects to begin hiking this month. That means investors are more likely to park their money in the United States, where they can net better returns.
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Europe hasn't been this cheap for Americans in decadesIf you're an American visiting Italy, Greece or Spain this summer after a pandemic travel hiatus, you're in luck: Meals, hotels and tours are more affordable in dollars than they've been in years.
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