Traveling offers memories that last a lifetime, but the price tag can make it seem out of reach to many families. In fact, did you know that the average person spends about 10% of the annual income on vacations?
Luckily, there are ways to make your money stretch farther when you travel, particularly if you like to travel internationally. By visiting destinations with a favorable exchange, you can increase the value of your money exponentially.
So where is the dollar strongest? Let’s take a closer look at 10 potential destinations.
Most countries in Europe use the Euro, which has been stronger for the dollar for many years. This has made it more expensive for Americans to travel to many European countries.
Ukraine, however, uses its own currency, called the hryvnia. Political circumstances have caused the hryvnia to lose value over the last three years, giving Americans more purchasing power.
While some places in Ukraine have been experiencing unrest, other locations are safe to visit. For instance, Kyiv, the capital of Ukraine, offers beautiful architecture and museums.
2. New Zealand
Australia is on the bucket list for many travelers. And, while the Australian dollar does offer a favorable exchange rate for Americans, the New Zealand dollar offers an even better one.
If you’re planning a trip to Australia, it can be a good idea to plan on staying at least part of the time in New Zealand. Not only does New Zealand offer unique, natural beauty, but it will also give your wallet a break. You can also enjoy affordable activities while you’re there, as there are a variety of backpacking and hiking opportunities available.
Finding a country with a favorable exchange rate doesn’t have to involve a long plane flight. Our neighbors to the north in Canada offer a great deal for Americans, with their currency losing nearly 5% to the US dollar in the last three years.
Canada is an excellent destination for nature lovers. In fact, several Canadian national parks are only a short drive from the US border.
Likewise, Mexico, our neighbor at the southern border, also offers a favorable exchange rate for travelers. Mexico is well-known for its beaches, making it a great destination to visit if you’re looking for warmer temperatures in the winter months. With the purchasing power of the dollar, you can even afford one of Mexico’s many all-inclusive resorts.
5. South Africa
If an African safari is on your bucket list, South Africa is a great location to get this experience affordably. In addition to the natural wonders, you can also enjoy the cosmopolitan city of Cape Town. The city has become increasingly international, and it features a variety of food, museums, and other cultural opportunities.
If you’re looking to travel to Asia, Vietnam is a hidden treasure that offers beautiful landscapes, delicious food, adventure opportunities, and a fantastic exchange rate. If you’re willing to stay in hostels, you can cover food, activities, and accommodations for as little as $20 a day.
If you’re looking for the best month to visit Vietnam, there is no single answer. While the weather is extremely pleasant in the winter, summer features the Da Nang International Fireworks Festival, which is the biggest fireworks display in all of Asia.
Peru is a great destination to visit because, in addition to having a great exchange rate, it also offers something for everyone.
History buffs will love visiting the ancient ruins of Machu Pichu. Foodies will enjoy the excellent cuisine at some of the best restaurants in the world made from high-quality, fresh ingredients. And outdoorsy folks will enjoy hiking in a relatively mild climate.
8. Costa Rica
Costa Rica is another excellent destination for travelers who seek adventure. The diverse landscape in this country offers travelers rainforests, mountains, volcanos, and beaches, all within a few minutes’ drive.
The vibrant rain forests also offer access to one of the most unique collections of animals in the world. In addition to the very popular sloths, you will also be able to spot a variety of monkeys and over 100 different species of birds.
9. Dominican Republic
Most thrifty travelers assume that a Caribbean vacation is out of their budget. This may be true if you are staying on an American-style resort in the Bahamas. In the Dominican Republic, however, you can get a much more authentic experience for only a fraction of the price.
The Dominican Republic offers a wide range of all-inclusive resorts. With the purchasing power of the US dollar, you will be able to find affordable accommodations even if you choose one of the higher-end options.
In addition to lying on the beach and drinking by the pool, there are also many activities in the Dominican Republic that are perfect for adventurers. For instance, you can go scuba diving or snorkeling to get a view of the gorgeous wildlife or head out on the open water in some jet skis.
10. Puerto Rico
Technically, Puerto Rico does not belong on this list. Not only is it not a country (Puerto Rico is a US territory), but it also does not have a different currency (Puerto Rico uses the US dollar). That said, it is worth including because the US dollar does have greater purchasing power in Puerto Rico than it does on the mainland. And, Americans enjoy the added benefit of not needing a passport to travel there.
Answering the Question, “Where Is the Dollar Strongest?”
This list begins to answer the question “Where is the dollar strongest?” The truth is, however, that exchange rates fluctuate regularly. As you plan your travel, you should regularly monitor exchange rates to look for trends.
Looking for more travel tips? Check out the rest of our blog for inspiration.