Have you ever dreamed about an international travel vacation where you can walk through picturesque fishing villages or take an air balloon ride over lush countryside? Does your travel bucket list include a safari, local flavors, and five-star hotels?
photo credit: Marco Verch Professional Photographer / Flickr
Travel like this may seem out of reach, but we are here to tell you that now is the time. The World Travel & Tourism Council completed a global survey in November 2022 of more than 26,000 consumers. Survey results concluded that 63% of participants were planning a leisure trip in the next 12 months.
With the strength of the U.S. dollar, international travel opportunities will no longer break the bank. The U.S. dollar is stronger than it’s been in a long time, allowing travelers to pick up and go to countries such as Turkey, Thailand, Portugal, and South Africa.
According to Forbes, the U.S. dollar is “hot,” and we couldn’t agree more. Check out how the dollar compares to other currencies as of April 20, 2023:
- GPB/USD: One British pound buys $1.25 now, compared to $1.31 a year ago
- USD/JPY:One dollar buys 134.09 yen, compared to 127.98 a year ago
- USD/CAD:One dollar buys 1.35 Canadian dollars now, compared to CA$1.25 a year ago
What Does a Strong Dollar Mean for Travel?
When you choose foreign currencies with favorable exchange rates for the U.S. dollar, you are able to stretch your budget further. You will have more options for accommodations and activities, which means you may be able to experience more of what your destination has to offer. Rather than opting for cheap hotels, dining options, and excursions, you can thoroughly explore a specific location without feeling the weight of spending more than you have.
Remember, it is important to book ahead while the dollar is strong. Prepay for hotels and major outings like tours, shows, and excursions while the exchange rate is in your favor. Consider booking with a travel agent who can help you make refundable arrangements, or obtain good travel insurance should you need to cancel the trip.
Here are some of the best travel destinations for a strong dollar as well as the sights and attractions you should visit. With the current exchange rates, these locations offer travelers great value for their money, especially compared to other destinations with stronger currencies.
Turkey: The current exchange rate in Turkey is $1 for 19.40 Turkish lira. In Turkey, you can explore the underground city of Derinkuyu, visit the Hagia Sophia in Istanbul, see the ancient city of Ephesus, or relax in a Turkish bath.
Thailand: The current exchange rate in Thailand is $1 for 34.30 Thai baht. When visiting Thailand, you can travel to the ancient city of Ayutthaya, take a Thai cooking class, or hike through Khao Yai National Park.
Portugal: The current exchange rate in Portugal is $1 for 0.91 euros. Consider visiting the medieval castle in Óbidos, exploring the wine country in Douro Valley, surfing in Nazaré, or taking a boat tour of the stunning Algarve coastline.
South Africa: The current exchange rate in South Africa is $1 for 18.04 South African rand. There are a plethora of things to do here, including a wine tour in the Cape Winelands, visiting the penguins at Boulders Beach, or whale watching in Hermanus.
Many travelers have been prioritizing low-cost countries, but now there are more options available due to the strength of the U.S. dollar. We expect the dollar will stay or become stronger for the next 12 months. So, if you have been thinking about checking a destination off your bucket list of travel destinations, the time is now. It is never too late to travel.
