Euro rate hits a record low – planning for travel in the future may save you tons

We all know now is not the time to travel. In fact, right now is probably the worst time to travel in recent history but we all also know another thing… This will end.

In watching this crippling event unfold, we do see some interesting side affects to the crisis in the forms of lower gas prices, extremely low airfares and now a record low Euro rate compared to the US Dollar.

On March 19th the Euro was 1.07 to the US Dollar.

Euro rate vs USD on march 19 2020

When looking at the Euro rate for travel to Europe you always want a low rate so you don’t loose much in the conversion.

For example.

Lets say you go out for a fancy dinner on your trip to Europe and the dinner costs you 100 Euro.

Last week at 1.19 that dinner would have cost you USD $119.00

Right now that same dinner would only cost $107.00 and when you dine out almost every night that savings can add up.

When you look at the Euro rate over the last 5 years, we have not seen these low rates since 2017 and was almost 1.30 in 2018. Now is the time to purchase future travel.

Euro Vs USD over last 5 years

Before the crisis professional travelers and those in finance would follow the Euro rate like a stock; viewing it every day. Why? because the currency that international travel companies who book trips to Europe use is the Euro. When companies must convert the currency their customers are paying in (usually USD) they must pay that amount out to their suppliers or employees overseas in the currency of that country (usually Euro); this is why businesses in the USA that work with Europe and travelers going to Europe love a low Euro rate.

If you have been watching the financial channels and the affect the crisis is having on the markets; you will notice most of the commentators are talking about “when to buy” because the market is low. Stock market experts know that historically; the markets will rise once again and those that purchased stock when the market was at its lowest will gain the most when they recover.

This theory is the exact same for planning at trip to Europe. Yes, we know you are not going now, maybe not even this year, but just like the stock market, the travel market will also rise again one day; and when it does; those who purchased trips when the travel market was at its lowest point will benefit the most when prices and currency rates start to go up and they can just sit back and count the savings.

We don’t expect you to book a trip right now, but we do know you will want to travel again and if you can take advantage of the lower costs for a trip in the future, that’s smart.

Get you free route and quote for a fall 2020 or 2021 trip using this link. https://italy4real.com/tours/create-a-tour/

Stay safe!

Sources:

https://www.macrotrends.net/2548/euro-dollar-exchange-rate-historical-chart