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Summer Travel 2024

  • By The Mill Financial Partners
  • June 18, 2024
  • 168 Views

Summer Travel 2024: Where Your Dollar Stretches and Shrinks 

Summertime is here and it’s time to pack the bags for some much-needed travelI recently spent three nights in Tulum, Mexico where the all-inclusive resort was so affordable that I immediately questioned the qualityAlthough the service was far from 5-star, I was pleasantly surprised by the delicious food, great views, and phenomenal golf course. 

 

Inflation has led to many of us analyzing our budgets, but with inflation has come a stronger dollar that can help make travel more affordableFor reference, in 2008 I was studying abroad in Oxford, England and wandered into a pub where every dollar got me .66 of a Euro- at $10 a pint that was a rather sobering exchange rate!   

 

Flash forward to 2022 when I traveled to Florence, Italy, and the dollar/euro exchange was nearly 1:1.  This made visiting the Gucci store much more fun! 

 

Personally, I don’t want to have to think about money when I’m on vacation- just keep the drinks coming! Whether you’re looking to stretch your budget or simply want to know what to expect, here’s a guide to the top countries where the US dollar goes the furthest, and where it shrinks the most! 

 

Where the Dollar Goes the Furthest 

  1. Vietnam 

  • Why Go: Vietnam offers stunning landscapes, rich culture, and delicious cuisine at a fraction of the cost you’d expect in the US. From bustling cities like Hanoi to the serene beauty of Ha Long Bay, your dollar will take you far. 

  • Cost Highlights: Affordable accommodation, cheap and tasty street food, and low-cost transportation make Vietnam an excellent choice for budget-conscious travelers. 

  1. India 

  • Why Go: India is a land of diversity, offering everything from the Himalayas to beautiful beaches, and vibrant cities to tranquil villages. The dollar has significant purchasing power here. 

  • Cost Highlights: Inexpensive local cuisine, low-cost travel options (like trains and buses), and affordable accommodations help your budget stretch farther. 

  1. Indonesia 

  • Why Go: With thousands of islands to explore, including the popular tourist destination of Bali, Indonesia provides diverse experiences at a low cost. 

  • Cost Highlights: Budget-friendly accommodations, cheap and fresh food, and a wide range of affordable activities, from surfing to hiking. 

  1. Mexico 

  • Why Go: Just a short flight from the US, Mexico offers everything from beautiful beaches to historical sites. The cost of living is low, making it an attractive destination for American travelers. 

  • Cost Highlights: Affordable dining options, reasonable hotel rates, and cheap local transportation make Mexico a great value for your money. 

  1. Philippines 

  • Why Go: The Philippines boasts stunning beaches, friendly locals, and a low cost of living. Whether you’re diving in Palawan or exploring Manila, your dollar goes a long way. 

  • Cost Highlights: Economical accommodations, low-priced meals, and affordable domestic flights between the islands make it easy to explore on a budget. 

Where the Dollar Stretches the Least 

  1. Switzerland 

  • Why Go: Known for its picturesque landscapes, high quality of life, and excellent public services, Switzerland is a beautiful but costly destination. 

  • Cost Challenges: High prices for everything from hotels, to meals, to transportation make it tough for your dollar to stretch far. 

  1. Norway 

  • Why Go: Norway’s stunning fjords, Northern Lights, and outdoor activities are unparalleled, but they come at a price. 

  • Cost Challenges: Expensive dining, accommodations, and transportation make it one of the priciest countries to visit. 

  1. Iceland 

  • Why Go: With its unique geothermal landscapes, hot springs, and waterfalls, Iceland is a dream for nature lovers. However, this beauty comes at a high cost. 

  • Cost Challenges: High prices for food, lodging, and car rentals make Iceland a place where your dollar doesn’t go far. 

  1. Denmark 

  • Why Go: Denmark offers a mix of modern cities, historic sites, and charming countryside. Copenhagen, in particular, is known for its design and culinary scenes. 

  • Cost Challenges: High living expenses, from accommodation to dining out, mean you’ll need a larger budget to fully enjoy your stay. 

  1. Australia 

  • Why Go: Known for its diverse landscapes, wildlife, and vibrant cities, Australia is a fantastic destination with a high cost of living. 

  • Cost Challenges: Accommodation, food, and transportation can be quite expensive, making it one of the pricier places to travel with a US dollar. 

 

What about the cost of getting there?  

It turns out that even though the cheaper countries are often farther away, their air fares are similar to the more expensive options…  

 

Average Airfare Prices from Atlanta 

I conducted an airfare cost comparison from Atlanta to each of the featured destinations: 

  • Hanoi, Vietnam: $850 

  • New Delhi, India: $900 

  • Bali, Indonesia: $1,000 

  • Mexico City, Mexico: $450 

  • Manila, Philippines: $950 

  • Zurich, Switzerland: $1,100 

  • Oslo, Norway: $1,050 

  • Reykjavik, Iceland: $800 

  • Copenhagen, Denmark: $950 

  • Sydney, Australia: $1,200 

These prices can fluctuate based on the time of booking, season, and airline. Happy traveling! 🌍✈️  

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My Research was conducted during the month of May 2024, and assumes travel in the month of May.  

 

Conclusion 

When planning your summer travels, consider where your dollar will stretch the furthest to make the most of your budget. While countries like Vietnam, India, and Mexico offer great value, be prepared for higher costs in destinations like Switzerland, Norway, and Iceland. Wherever you choose to go, knowing what to expect can help you plan a more enjoyable and affordable trip. Happy travels! 

 

The Mil Financial Partners

CRN202703-6625507

 

 

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