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What were you doing in the summer of 2002?
Are you driving around in the car singing along to “A Thousand Miles” by Vanessa Carlton?
Are you joking like I was when your friend showed me their newly released camera phone and thought, “Well, that’s not going to happen”?
Or were you in Europe sipping a very affordable Aperol Spritz in the sun while the dollar held an exceptionally strong exchange rate against the new euro?
If you are, you may not know that the value of the dollar will depreciate against the euro and fall hard until the end of the year. In the spring of 2008, one dollar was equal to 62 euro coins. Although the currency has been very favorable in recent years, the dollar has not achieved parity with the euro.
until now.
Yes, it’s time to dust off your low-rise jeans and book a hair appointment for frosted tips; Because for the first time since the summer of 02, the US dollar is now roughly equal to one euro.
(At the end of August, the dollar was actually worth more than the euro and equaled 99 euro coins at the time of writing, but for the past month or so, it has actually hovered around 1:1 every day.)
Why did it happen? A very complicated thing to do with interest rates, inflation and the war in Ukraine and other random factors.
What it means is that Europe is now as wallet-friendly as it has been in 20 years.
Think about it: If a couple took a 10-day trip to Europe in 2010, when the dollar was pegged at 80 euros (much better than in 2008, but nowhere near 1:1 today), and budgeted roughly 400 euros per day for hotels, tours, and food, it would cost them $5,000 after their flights.
Today, that would only cost you $4,000.
Oh, and the same general thing applies in the UK, where the dollar recently hit its highest value against the pound since 1985.
Of course, there has been some price inflation on both sides of the Atlantic, but the main takeaway is that Europe is basically on sale and autumn is arguably the best time to be here, the big question is…what are you waiting for?
If you need an excuse to call your travel advisor, how about these:
The festivals are finally back.
After a three-year hiatus, Oktoberfest returns to Munich (September 17-October 4), while the Canstatter Volksfest returns to Stuttgart (September 23-October 9). Both are as ingrained in their identities as Stein’s upbringing, with beer-drinking bacchanalia, traditional food, music and dress. This is to say nothing of the heavenly harvest festivals of truffles, olive oil, chestnuts, grapes, oysters and the myriad of other foods that are happening again this year.
Mead is still awesome.
The temperature is mild and the water is warm until September and usually from mid-October to the end of October in coastal Spain, France, Italy, Croatia and Greece. The summer crowds have said goodbye, making it the perfect time to soak up the sun and good life in the dreamy towns and islands of the Mediterranean.
Europe has beautiful leaves
North America doesn’t have the sole rights to spectacular fall foliage, as you’ll find the best foliage spots on the entire continent. Did you think those castles looked romantic before? Wait until you see them surrounded by orange and red streaks. Or with a coffee in hand in Paris or Prague? Did he turn around?
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