Is Economic Armageddon Good For Travel?

 

Global markets are in upheaval, the monetary sector is in shambles, and folks are genuinely worried about the possibility of a Depression-like situation in the near future, which only begs the question: So what does this mean for my subsequent trip?

It’s no surprise that plucky editors across the board have jumped on the how-does-the-economic-turmoil-impact-travel bandwagon. The NY Occasions is reporting a 10% drop in airline passengers as well as a drop in the number of investment bankers schmoozing clientele at the Ritz-Carlton (boo-hoo). The Wall Street Journal is reporting a drop in higher-end bookings like those in Vail (hmm . . . I wonder who’s cancelling these trips?) and in enhance in the number of hotels slashing prices from Bora Bora to Aruba.

But on the really bright side, for the rest of us who are not likely to be jetting away to Bora Bora or booking weekend getaways at the Ritz anytime quickly, there’s really quite a bit of superior news as far as spending budget travel is concerned. For Americans at least, our pitiful dollar is now inching away from its dismal standing amongst the globe’s currencies and is gradually gaining traction, making the U.S. seem much less like 1 giant discounted Wal-Mart to the rest of the globe. This is great news for weary (and broke) international travelers from America. The Euro and Pound are both back at 2007 levels ($US1 = €.73 and $US1 = £.57) and there are plenty of areas you can now pay a visit to that may well have been out of the query only a year ago.

For instance, this write-up points out that Iceland’s financial meltdown implies huge savings for outsiders (sorry Iceland, I know this is not precisely excellent news for you, but at least you can nevertheless take comfort in getting the happiest people today on Earth — see it’s not all terrible). There are now some fantastic deals in the Caribbean. Also, as currently pointed out, the weakening of the Euro implies that you may perhaps basically be capable to sleep indoors for the duration of your subsequent trip to the Continent. Other destinations across the world have all of a sudden become extremely affordable too (” . . . The dollar is up 24 percent in South Africa, 14 percent in both Brazil and Chile, 18 % in India, 14 % in Thailand, 13 percent in Australia, and 15 % in New Zealand”).

So my advise right here? Ignore economic troubles and travel instead. If you’re going to shed dollars, you could possibly as well do it oneself undertaking some thing you like.