Yesterday we talked about can you afford Italy. Any discussion on cost in a foreign country has to take into consideration the conversion rates. Last year it cost $1.34 to buy 1 Euro. That was the World Bank Rate. Your actual costs were higher depending on where you buy the Euros. Banks add-on .10 to .15 cents and exchange booths at the airport add-on much more! The best conversions are often with credit cards. They add-on an amount but not as high usually as banks and exchanges places. Many credit card companies now offer no fee foreign purchases. They still tack on cents to the World Bank rate but do not then charge an addition fee for foreign purchases.
Today the rate is $1.08 per Euro. That is a savings of $.26 per Euro from last year. If you spend $3,000 that is a savings of $780. That will buy you something nice on your trip. Europe has not been as cheap in a long time. Now is the time to book a trip and enjoy romantic Italy. The lower exchange rate makes hotels, meals, gifts, purchases and tours bought in Italy cheaper by 25% from last year. Airfares are the same since you buy them with dollars. If you purchase a local airfare or train tickets while in Italy it also will be 25% cheaper.
Enjoy the savings while it lasts. Check off another item on your bucket list!
George & Jo Anne