The Euro Falling Makes Holidays Cheaper
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With the price of Euro having hit a record low in 13 years, this could be a great summer to spend a getaway vacation in Europe. In the continent, tourists could enjoy stay and dine for cheaper for their dollar or pound’s worth than ever before. The European Central Bank or ECB is supposed to spend some thousand billion pounds to save the falling economy of Ireland and Europe and it has been a privilege that has been given to Europe for being a member of the EU by the neighboring countries. Any tour packages, dining and staying in the city are about to get a lot cheaper with the fall of euro.
The corrective measures are to be started somewhere around March, but as of now, 1 pound will buy 1.34 euros which has been the highest it ever got in last 7 years. Whereas in 2009, a pound could buy you 1.06 euros and last year the price became 1.17. Dollar is also measuring up fast, as compare to 1.45 dollar per euro; the price has fallen down to a record low of past ten years, which is 1.15 dollars. Experts have predicted further fall in euro price which could even go as low as 1.55 euros per pound by this June.
To help the broken economy, the quantitative easing could be proven beneficial for European financial system but this will reduce the price of euro even further. Although this is a grim situation for businesses looking to export goods in the continent, because their products will sell at a higher price than before with the fallen currency, risking their profit margin, for holiday hunters and tourists this could be a never before opportunity to see the sublime majesty of Europe. For British tourists this is a lucrative opportunity to utilize their dollars which could buy them much more comfort for low amount of money.
All over, for a tourist heading for Europe your overall cost for seeing this continent will be cut up to ten percent than it would have cost last year, this is all thanks to the drastic measures taken by European central bank and the turmoil in Eurozone countries.
To lift up Eurozone’s stagnant economies, central bank’s decision to print out more money will cheapen the value of euro even more, so a tourist looking for a break in Europe will get a whopping nine or ten percent more of their money than they would have in past few years. A £1000 will buy £74 or €96 extra for someone exchanging their pounds for euros.
Choosing Europe as your vacation gate away will pay out big time than going for Singapore or Dubai. Where European cities like Prague and Bulgaria could set back a tourist by 35 to 40 pounds for some essential items, the same will cost in those cities about five times more. So Europe offers a lucrative deal on travel and tourism this year, unless you are planning for Switzerland because the Swiss franc is still at their highest peak with no signs of coming down. Currently Swiss franc has risen almost 30% against euro. This happened after the swill national bank decided to remove their three year old price cap of 1.20 franc per euro, which was artificially keeping the currency low.
To bail out Europe from the recent financial meltdown, European central bank’s decision of pouring nearly a thousand million in Eurozone has created the record low of euro price. The massive money printing program which is being called a quantitative easing is to fight the current deflation in the market and stagnation. The prospect of flooding in a huge amount of euros in the system is intended to cut down public spending costs and instead boost the prospects of businesses and families. This could be a major blow down for businesses which export goods in the content for a living because the goods that are currently being produced in Britain is going to be much more expensive for people inside the continent, so this is a bad news for foreign European buyers. But all in all for holiday planners this is about the best time to take a vacation for all the cut off expenses for all their money’s worth. This is a great news for tourists from Australia, Britain Canada or the United States if they are planning their next holiday destination as Europe.