Declining Dollar Means Higher Prices for Vacations Abroad

Newswise — As the dollar continues to trend downward, American tourists may be shocked at the cost of traveling abroad this summer. In April, the dollar reached a 26-year low against the British pound and was less than a penny from an all-time law against the euro. That means higher prices for travel, services and hotels across Great Britain and Europe. Jack Strauss, Ph.D., director of the Simon Center for Regional Economic Forecasting at Saint Louis University, says that although the dollar is expected to continue in a downward trend, there are still opportunities for some good deals. "There are some affordable prices if you negotiate the trip in advance before leaving the United States. The price goes up if you try to set things up while you're abroad," Strauss says.