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One unexpected benefit of the global financial crisis is that the U.S. dollar is suddenly recovering ground, as travel writer Tim Leffel says in this article about the travel dollar. I guess because the U.S. economy got hit first, it also should recover first. Meanwhile, the crisis has only recently spread to Europe, particularly Iceland.
Oil prices have gone down drastically, which should feed into the fares for plane tickets. Unless airlines continue using fuel costs as an excuse to keep prices high and all those pesky baggage fees. Intelligent Travel has also blogged on the decline in travel costs.
November 7th, 2008 at 1:47 pm
Thanks for the shout-out on that article Marcus. It’s looking very good out there right now in some spots, from perennial cheap destinations like Thailand and India to some that are suddenly more reasonable, like Hungary, South Africa and Iceland. Some currency analysts are saying the dollar and euro are both close to “fair value” right now, so hopefully this is the new normal for a while.