For the first time in 20 years, the exchange rate between the euro and the US dollar is almost the same – the two currencies differ from parity by less than one cent. This is a very favorable time to travel to Europe, according to CNN.
The euro hovered around $1,004 on July 11 afternoon, down about 12% year-to-date. There are many fears on the continent of a recession fueled by high inflation and energy instability caused by Russia's invasion of Ukraine.
The European Union, which before the war received about 40% of its gas through Russian pipelines, is trying to reduce its dependence on Russian oil and gas. At the same time, Russia has limited gas supplies to some EU countries and recently cut Nord Stream gas supplies to Germany by 60%.
This important part of Europe's gas import infrastructure has now been shut down for scheduled maintenance. service within the last 10 days. German officials fear that it will no longer be included.
“Given the nature of Germany's exports, which are sensitive to commodity prices, it remains difficult to imagine that the trade balance could improve significantly from here in the next few months, given the expected slowdown in the eurozone economy,” wrote currency strategists at Saxo Bank.
Analysts say a series of aggressive interest rate hikes by central banks, including the Fed, coupled with a slowdown in economic growth, will put pressure on the euro, while at the same time orienting investors to the US dollar as a safe haven.
The US Federal Reserve was well ahead of Europe in tightening policy by raising interest rates by 75 basis points, while indicating that there will be further rate hikes this month.
This safe haven in the direction of the US dollar could become even more extreme if Europe and the US enter recession, George Saravelos, head of Deutsche Global FX Research, warned in a note last week.
A situation where the euro trades below the US dollar in a range of $0.95 to $0.97 could be “quite achieved,” writes Saravelos, “if both Europe and the US find themselves sliding into a (deeper) recession in the third quarter, while the Fed is still raising rates.”
This is good news for Americans planning to visit Europe this summer. Now their trip to Europe has dropped dramatically in price (hotels, restaurants, shopping).
10 destinations for holidays in Europe
For many travelers, exploring European destinations is not only an item on their wish list, but a lifelong goal. With so many regions and cities to visit, it could take years to see them all, according to PlanetWare.
The best time of the year to travel around Europe is summer. Especially this summer, when the exchange rate of the dollar and the euro coincided. This will make your trip much cheaper. While many of the best places to visit in Europe experience all four seasons, the optimal summer weather makes it easy to get around, shedding layers of clothes and basking in the glorious sun on ancient terraces and soft sandy beaches.
No trip to Europe is complete without a visit to Lisbon. Generous and enthusiastic, the Portuguese will greet you with warm smiles and hearty meals. Thanks to the surge in direct flights in recent years, access to Spain has never been easier or more affordable.
When you arrive in this Portuguese capital, get ready for a workout: in the city known as the city of the seven hills, you can expect ups and downs, ups and downs – and so on. Don't worry, San Francisco-style hop-on hop-off buses and trolleys make it easy to rest your feet.
There are many historic buildings here, from San Jorge Castle to the Santa Justa lift and the bridge Ponte 25 de Abril. Eduardo VII Park is the city's largest park and offers perhaps the best view of the Marquês do Pombal Square, Avenida da Liberdade and the sparkling Targus River.
Don't forget to make time for a short trip to the beach, a 20-minute drive, for pastel de nata, a delicious local dessert. The beautiful restaurant Doca de Santo, renovated in 2018, offers delicious food as impressive as the river view.
Reykjavik may not be the first place that comes to mind when you consider places to visit in Europe, but it should definitely be on your list. While many people fly to Iceland hoping to see the Northern Lights, some travelers choose summer for endless sunshine. And by endless, we really mean endless: from mid-April to mid-August, there is no darkness in Reykjavik due to its geographical location.
If you don't mind using blackout curtains to get some rest, this city has some of the most magnificent hiking trails and viewing platforms. Imagine: colorful fields of greenery and flowers, blue skies against the backdrop of the healing waters of the Blue Lagoon and perfect weather.
Apart from nature art works, the city of Reykjavik is the largest in the country and is the capital. Here you will find charming shops and restaurants with seafood, including sharks, and a stunning concrete church called Hallgrimskirkja. Most tourists also enjoy circling in the Perlan Dome, which rotates to offer views of the city, ocean, and countryside.
Despite the vast size of the territory, the nine islands that make up the Azores are a few hidden gems off the main coast of Portugal. These green islands are magical and serene, home to UNESCO World Heritage Sites, hot springs, bubbling geysers, bubbling mud pots, dark caves and romantic grottoes. Come here in summer to see all these outdoor wonders.
Sao Miguel is the largest of the Azores, a real beauty filled with adventure and many tourist attractions in Ponta Delgada, its capital. On this and other delightful islands, get ready for some wild entertainment. From cycling to paragliding, hiking and caving, there are so many things to do in the Azores, especially during the peak summer season.
Admire majestic blue lagoons, volcanic craters and towering mountains so striking you'll have to stop to catch your breath.
It's easy to see why Crete is considered one of the best places to visit. visits in Europe in the summer. This Greek beauty is a paradise for travelers who love fresh food, historical tales, archaeological sites and stunning views of the bright azure waves washing the volcanic shores.
The soft sandy beaches of Crete are not to be missed, especially if you are looking for a way to soak up the warm summer rays. If you only have time to visit one, put Elafonissi beach at the top of your list of must-see beaches in Crete. This is one of the best pink sand beaches in the world, located just two hours from the popular city of Chania.
Popular tourist cities in Crete include Chania, Agios Nikolaos and Rethymnon. Many fly to the city of Heraklion, which is also worth a visit, if only to see the Palace of Knossos, one of the best archaeological sites in Greece.
Paris has something to love! Although hot and humid at times (especially in August), this popular destination is one of the best places to visit in Europe during the summer.
Yes, you'll have to expect higher prices for things like hotels, flights, and tourist attractions, but being able to leave your sweater behind while you browse the sites makes the extra expense more than worth it. In fact, the weather from June to August is almost perfect.
In addition to dining outdoors, the summer climate opens up many enjoyable things to do in Paris, such as lying on the beach, watching movies outdoors, dancing on an open-air concert or watching bikers enter the city during the Tour de France.
Save the sun (or rainy July days) by visiting some of the best museums in Paris or seeing Notre Dame Cathedral.
With so many fun things to do in Paris, you really have to say “Mais oui, Paris” on your summer trip.
Tenerife tops the list of the best places in the world for the wedding. Once you see its gorgeous sandy beaches, dazzling azure waves, and lush nature reserves, you'll understand why: it's downright romantic.
A hotspot for travelers to Europe in the summer, Tenerife is one of the best places to visit in the Canary Islands. In summer, most visitors spend most of their time burying their toes in the soft sand, but it would be wrong to miss a visit to the wonderful Teide National Park. Take comfortable walking shoes and plenty of water if you plan to hike this volcano, the third highest in the world.
During the summer in Tenerife, you can expect dry sunny skies with temperatures sometimes exceeding 28 degrees Celsius. You will be sharing the streets with many other tourists from all over the world, as this is one of the best places in Europe to visit during the summer, so it is best to book your hotel room and dinner in advance.
< p> Summer in Edinburgh is a magical time. While you're unlikely to sweat (the maximum hovering around 19 degrees Celsius), these ideal temperatures make it easy to spend an entire day in comfort exploring the city's top tourist attractions.
Edinburgh Castle is a must visit, especially when the sun is shining. Dominating the city and not to be missed, this historical site is one of the best tourist sites in Scotland. Summer gives visitors the opportunity to admire the lush vegetation that rises up the hill to the castle, and its flowering gardens, accentuated by the bright blue sky.
June, July and August are the perfect months to explore Edinburgh's best parks. Be sure to pack for a picnic so you can stay longer so you can fully enjoy the fresh air and scenic surroundings.
Don't miss the Royal Mile, the magnificent streets that connect Edinburgh Castle to Holyrood Palace.
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Let's not lie, it can be hot in Madrid in summer. We're talking about sweat running down your back long after the hot sun has set. Don't let temperatures over 30-plus degrees Celsius scare you, Madrid is still one of the best places in Europe to visit during the summer.
This Spanish gem offers such delicious food that you'll be dancing for joy to live music. Tip: June and July are the best summer months to visit; some shopkeepers take a vacation in August.
Mad Cool Music Festival takes place in early July, offering guests the opportunity to dance to their favorite artists in a large open-air venue.
Once you've had enough walking around Madrid's busy streets and crowded tourist attractions, take a bus, train, or rental car to explore the many places and cities worth a day trip. Tour Toledo and Segovia offers a tour of three cities in one day.
Amsterdam, the Netherlands
The Netherlands is proud of its environmental friendliness. Given the country's flat and scenic terrain, it's no surprise that bicycles are the preferred form of transportation in the Netherlands. The country boasts 32,000 kilometers of cycle paths and it is said that every Dutchman owns two bikes. You will see thousands of them on the roads of the capital city of Amsterdam, especially in summer.
While public transport is easy, you won't have to bother with trains or buses if you rent a bike during your trip. But if you are crossing the street as a pedestrian, be sure to look both ways – many cyclists pass quickly.
Slow down as you pass impressive townhouses reminiscent of the Golden Age in their canal-hugging splendor. Cruise the waterways to pass under inspiring bridges and see townhouses from a different perspective.
While on land, don't miss the vast Rijksmuseum, the magnificent Van Gogh Museum, and the humble Anne Frank House. While summer is already too late in the season for breathtaking tulip views (at the end of March there is a tulip festival that continues until early May), there is plenty of beauty to see while wandering the canals, popping into the shops and enjoying a meal on the terrace .
This summer the pink city becomes vibrant, attracting both tourists and locals to its shores. Especially in July, you won't be able to resist the sun on the beaches after a morning sightseeing in the city.
From the fantastic Sagrada Familia to the infamous Antoni Gaudí-designed Parc Güell, Barcelona is a rare combination of historical significance and modern practices . Walking around or pedaling, you can stop for tapas, or, as the Spaniards do, take a siesta at a hotel or Airbnb.