This summer, tourists visiting Europe are facing high costs as hotel prices soar and popular sites increase their entry fees. With a weak dollar and a high demand from U.S. travelers, experts predict a challenging season for visitors.
Currency experts like those at Wise report a significant drop in the value of the dollar against the euro, adding to the expense of traveling in Europe.
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Europe Vacation Costs Reach New Highs
Tourism professionals are noticing that U.S. tourists are flooding into Europe in record numbers.
Tom Jenkins, CEO of the European Tourism Organisation, stated that 2024 is seeing even more travelers from the U.S. than the previous record year of 2019. This has led to higher prices, especially in major cities where hotels are nearly full.
According to CNN, hotels in cities like Paris and Amsterdam are increasing their prices by about 10% this year. However, experts suggest that travelers can find better deals by choosing less popular destinations or lower-rated hotels.
For instance, Tim Hentschel, CEO of HotelPlanner.com, advises visiting places like Milos instead of Mykonos to enjoy similar beautiful views at a fraction of the cost.
Despite the high hotel rates, airfares from the U.S. to Europe are actually lower this summer.
Hayley Berg, lead economist at Hopper, noted that the average round-trip airfare to Europe has dropped by 16% from last year. She suggests that for those looking to save, flying in September could be even cheaper due to seasonal price drops.
For those still planning their European vacation, experts recommend booking flights and accommodations as soon as possible to avoid the last-minute price hikes and limited availability.
With careful planning and flexibility, travelers can still enjoy Europe without breaking the bank this summer.
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Europe Sees Tourism Rebound
In the first quarter of 2024, Europe's tourism industry has shown significant growth, surpassing pre-pandemic levels.
According to the latest 'European Tourism Trends & Prospects' report by the European Travel Commission (ETC), foreign arrivals increased by 7.2% and overnight stays by 6.5%, outperforming 2019 figures.
This resurgence is fueled by strong travel within Europe, particularly from Germany, France, Italy, and the Netherlands, as well as continued interest from the US, Europe's largest long-haul market.
ETC revealed that southern European destinations like Serbia, Bulgaria, Türkiye, Malta, Portugal, and Spain are leading the recovery, attracting tourists with their competitive pricing and mild winters.
In contrast, the Nordic countries are benefiting from winter sports and the Northern Lights, with notable increases in tourist activity in Norway, Sweden, and Denmark.
However, challenges persist, particularly in the Baltic region due to ongoing geopolitical tensions, notably the impact of the war in Ukraine.
Inflation and the recent conflict between Israel and Hamas also pose significant challenges, impacting travel patterns, especially from Israel to Europe.
Despite these issues, consumer interest in traveling to Europe remains strong. Early 2024 saw an increase in tourist spending, with forecasts predicting a 14.3% rise from the previous year.
Upcoming events like the Paris Olympics and the UEFA European Football Championship in Germany are expected to further boost tourism in Europe, spreading economic benefits across various cities.
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