The next time you see a cheap plane ticket to Iceland and are about to pull the trigger, you might want to think twice.
Once you get to Iceland, your costs won’t be so low. In fact, a recent RewardExpert report revealed the U.S. dollar has lost 19.6 percent of its value there over the last year.
Don’t despair, though; there are plenty of places to travel this summer.
RewardExpert rounded up summer travel destinations where the dollar has grown stronger over the past year — and some generally inexpensive ones — to help you decide where to go.
5 travel destinations where the dollar is growing stronger
To be clear, these destinations aren’t necessarily where the dollar is strongest — they’re where the dollar has gained value over the past year.
So, although they might not be the cheapest destinations, they’re getting cheaper for Americans thanks to currency fluctuations.
To help you get an idea of each country’s costs, we used data from the crowdsourced site Budget Your Trip. The expenses are based on a midrange traveler, so you’ll likely spend less as a budget traveler or more as a luxury traveler.
Here are five hot travel destinations where the dollar is getting stronger.
This South American country is home to steak, wine, and tango. In the past year, the U.S. dollar has grown 13.5 percent more valuable there.
Although flights to Argentina are expensive, the average cost of traveling there is fabulous: $22 per day. Go with your partner for a week, and that’s only $313.
It hasn’t been a great year for our friends across the pond. After the announcement of Brexit, the British pound took a dive, losing 12.1 percent of its value compared to the U.S. dollar.
That’s not to say it’s cheap, however. A midrange traveler can expect to spend $145 per day; for a couple for a week, that’s $2,031.
Fancy visiting the Great Wall? Or trying authentic sesame chicken? (I hate to disappoint you, but it doesn’t exist.) Then you might want to head to China, where the U.S. dollar has grown 5.2 percent in value over the past year.
Plus, once you pay for the flight (airline miles FTW), you’ll find traveling in China is on the affordable side. It costs approximately $77 per day — or $1,078 for a couple for one week.
There’s no better time to visit Sweden than summer, when it gets an insane 19 hours of sunlight per day, according to Sweden’s official website. And this year, it might not destroy your budget, as the U.S. dollar has become 4.6 percent more valuable there over the past year.
Unfortunately, the daily cost of travel is double that of China and six times that of Argentina: $139 per day. That’s $1,953 for a week with your boo.
This might be the year to go to Canada. Not only are all its national parks free (yippee), but our dollar has gained 3 percent there.
Once you’re there, the average cost is $122 per day — or $1,713 for two for a week. But keep in mind you won’t have to pay much for airfare (you might even be able to drive) and could cut expenses by camping.
2 travel destinations that are cheap anyway
Although the above destinations are where the dollar is growing stronger, many travel destinations are affordable regardless of what our currency has done over the past year.
According to RewardExpert, here are two of the cheapest.
Tacos. Tacos. Tacos. That’s really all I need to write about Mexico.
But I’ll also mention that although the dollar has gained only 0.6 percent on the Mexican peso over the past year, travel to our southern neighbor is still darn affordable.
Not only can you find cheap flights, but the cost of traveling there is only $52 per day — or $722 for a couple for a week. And having lived in Mexico, I can say even that estimate seems a little steep.
You might never have considered vacationing in Poland, but it’s surprisingly beautiful: old cities, big castles, mountains, and the like. In other words? European goodness without European prices.
The dollar has declined by 4.8 percent there, but exploring will set you back only $62 per day if you’re traveling solo and $869 per week if you’re with your bestie.
Ready to get going? Hopefully this post made it clear — especially if you’re traveling with student loans — that you should check currency fluctuations before booking a flight.
*All costs per day and costs per week are based on data from Budget Your Trip and accurate as of Aug. 7, 2017.
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1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 6.97% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.23% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
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Laurel Road Disclosures
Savings example: average savings calculated based on single loans refinanced from 9/2013 to 12/2017 where borrowers’ previous rates were disclosed. Assumes same loan terms for previous and refinanced loans, and payments made to maturity with no prepayments. Actual savings for individual loans vary based on loan balance, interest rates, and other factors.
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Instant rates mean a delivery of personalized rates for those individuals who provide sufficient information to return a rate. For instant rates a soft credit pull will be conducted, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.
Total savings calculated by aggregating individual average savings across total borrower population from 9/2013 to 12/2017. Individual average savings calculation based on single loans refinanced from 9/2013 to 12/2017 where borrowers’ previous rates were provided. Assumes same loan terms for previous and refinanced loans, and payments made to maturity with no prepayments. Actual savings for individual loans vary based on loan balance, interest rates, and other factors.
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4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
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Citizens Bank Disclosures
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