5 places to travel while the US dollar is strong to get the most bang for your buck

07.12.2024 - 01:53 / insider.com

The US dollar is strong right now, meaning Americans' spending in countries with weaker currencies could go further, making it a convenient time to consider taking that impromptu trip you've been dreaming about.

Some Americans are already seizing the moment.

"American travelers are looking for value right now," Amir Eylon, president and CEO of Longwoods International, a market research consultancy that specializes in the travel tourism industry, told Business Insider.

Historically, the value of currencies can influence travel behavior. A weaker currency generally attracts travelers, but makes it more expensive for the residents of that country to travel abroad. Likewise, a strong currency can raise outbound travel demand, but might deter international tourists from visiting that country.

Eylon said demand for leisure travel is still around record highs, but that more and more Americans say they are actively seeking out value and deals when they plan trips. A place with a weaker currency compared to the US dollar is one way to maximize that value.

Here are five popular tourism destinations where Americans can take advantage of the strong US dollar.

Japan is often considered an expensive destination for Americans due to the long flight and accompanying airfare, but the weak Japanese yen has fueled a surge in tourism and international travelers visiting the country.

Japan attracted a record number of tourists in the month of October, with 3.31 million visitors, according to the Japan National Tourism Organization.

As of writing, $1 was equal to about 150 Japanese yen.

Egypt, a common bucket list travel destination, is among the countries where the US dollar goes the furthest right now, according to data compiled by NetVoucherCodes, a British travel deal site that analyzes exchange rate trends.

The strength of the US dollar compared to Egypt's currency has increased by 207.5% in the past five years, according to the site.

As of writing, $1 was equal to about 50 Egyptian pounds.

Argentina's peso hit a record low this year, making it a cost-effective place for an inflation vacation, as The Wall Street Journal previously reported. An Airbnb spokesperson told the outlet the number of nights booked by Americans in Argentina increased by 40% in the first few months of the year.

The value of the US dollar against the Argentine peso has risen by $1,589% in the past five years, according to NetVoucherCodes.

As of writing, $1 was equal to about 1,012 Argentine pesos.

South Africa's currency has also declined significantly in value compared to the US dollar, making the country's famous safaris potentially more affordable for wildlife lovers.

The exchange rate of the dollar to the South African rand is up about 23%