Summer Travel to Europe Set to Become Pricier

As per Hopper data, Europe remains the top choice for summer travel, but vacation plans to the continent are expected to become more costly due to the euro-dollar exchange rate.

Summer travel to Europe is the most sought-after option for international travelers this season, according to recent data. However, the dream of a European getaway may hit your wallet harder than anticipated, and the culprit lies in the euro-dollar exchange rate.

Yahoo Finance Host Madison Mills explains why European travel plans are becoming more expensive.

Travel to Europe is the most popular international destination for consumers this summer, with Europe being the top choice for many. However, the cost of your dream trip might rise significantly due to unfavorable currency exchange rates.

The euro-dollar exchange rate is trending downwards, currently at one of seven, making it less favorable for travelers. For instance, a $500 hotel room now equates to about $550, adding to the expenses. Additionally, general inflation is pushing up the costs of experiences like entrance fees to tourist attractions, which have risen by about 20% compared to last year.

However, there are still some opportunities for cost savings, particularly in airfare. Average airfare from the US to Europe has decreased by 16% year over year, making flights more affordable. Looking outside city centers can also offer better deals, and events like the Olympics in France might lead to a decrease in tourism to cities, offering some price favorability.

Moreover, opting for lower-rated hotels could be a smart move as higher-rated hotels are increasing prices due to high demand from pent-up travel demand. Making some adjustments like these could help make your European summer getaway more affordable.