Coping with a Shrinking Travel Dollar

That one-third decline in value across Europe impacts every purchase you make, including hotel rooms, taxis and meals. The UK and Europe, already some of the most expensive destinations in the world, are now priced like luxury goods.

The dollar's decline against the Japanese yen has sent the already high prices there into the stratosphere. Similarly, Canada, a dependable nearby bargain for Americans, is now 20 percent more expensive than it was two years ago in US dollar terms.

“Americans visiting nearly any place in Southeast Asia or the Indian subcontinent will still find their money going a very long way.”

Australia and New Zealand are also considerably more expensive and in South Africa, the dollar buys half as many rand as it did in 2002.

Head East

So what’s a traveler to do? Fortunately for Americans, many countries have currencies that are pegged to the dollar, either officially or unofficially. As a result, costs in many Asian and Latin American are the same or less than they were two years ago.

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