It’s the backpacker’s call to India, the sunseeker’s attraction to Mexico, and the digital nomad’s drive to get to Thailand: Go where the dollar buys more.
The evergreen budget travel strategy is getting a boost this summer: The dollar has surged against a number of foreign currencies, including the Japanese yen, thanks to high interest rates offered by the Federal Reserve — attracting foreign investment, which bolsters the dollar.
“A destination’s weaker currency spells greater value for U.S. tourists,” said Erina Pindar, the chief operating officer and managing partner at SmartFlyer, a global travel agency based in New York City.
“This economic advantage could make far-flung bucket list destinations in Asia, such as Indonesia, Vietnam and Japan, or in South America, like Peru, Argentina and Chile, more accessible than ever before,” she added.
Persons:
”, Erina Pindar
Organizations:
Federal Reserve
Locations:
India, Mexico, Thailand, New York City, Asia, Indonesia, Vietnam, Japan, South America, Peru, Argentina, Chile