When the Japanese Yen fell to a rate of 100 to the dollar some months ago, one particular financial observer predicted it would eventually fall to a level of 125 to the dollar--and most of us felt he was dreaming.
Well, the Japanese Yen currently sells at 120 to the dollar--which compares with a rate of 90 to the dollar a couple of years ago--and Japan has become the hottest travel destination for 2015. Everything there--sushi and sashimi, kimonos and hotel rooms, sightseeing tours--is now more than 35% cheaper than it used to be.
For that matter, a number of other foreign destinations have now become cheaper for the U.S. tourist with dollars. Because of a stronger economic recovery in the U.S. than almost everywhere else, the dollar has recently reached new levels of strength. You now pay only 1.22 dollars for one Euro, and you receive 1.20 Australian dollars for one U.S. dollar, 1.14 Canadian dollars for one U.S. dollar, and 1.30 New Zealand dollars for one U.lS. dollar.
Much of the U.S. travel industry has been mired in gloom-and-doom this past year: the number of our major airlines has fallen to four, the cost of air tickets has zoomed upward, and one unexpected fee after another is now added to the price of hotel rooms and air tickets.
But in the field of currency rates, everything is looking brighter. If you ever contemplated a foreign trip, now is the time.
Photo credit: Tonko43/Flickr