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.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
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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 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.97% 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.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on ourstudent loan refinance product.
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2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
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.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.47% – 6.99%3||Undergrad & Graduate|
|2.57% – 6.97%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.50% – 7.24%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|