With summer fast approaching and vacations being on the top of people’s minds we thought we would look at a few potential destinations with a financial point of view based on the current exchange rates.
So what are some of the top destinations based on these criteria? We picked three: Mexico, the United Kingdom and Europe.
- Mexico: Given all of the recent development in Cancun and surrounding areas there is no shortage of hotels. With the current Peso to U.S. Dollar exchange rate sitting at 18.9 Pesos per dollar, a 54% discount relative to the 5 year average of 12.3 Pesos per dollar, Mexico is tops on our list in terms of attractiveness.
- U.K.: If you are looking to knock a few famous landmarks off your bucket list then this may be the time to travel to the U.K. The current U.S. Dollar to British Pound exchange rate sits at 0.7809 Pounds per U.S. Dollar which is a 17.6% discount relative to the 5 year average of 0.664 Pounds per U.S. Dollar.
- Europe: With a number of countries in close proximity and the robust public transportation system, Europe offers a vast array of possibilities. Currently, the exchange rate is 0.917 Euros per U.S. Dollar which is a 10.5% discount relative to its 5 year average of 0.83 Euros per U.S. Dollar.
While there are plenty of wonderful destinations out there, we thought that these three were attractive based on the ability to stretch your dollar. Safe travels!
All data is from Bloomberg as of April 25, 2017, 5-year average data is April 25, 2012 - April 25, 2017.
