Compared to many foreign currencies, the value of the US dollar is currently strong. This creates an ideal situation for deal-seeking Americans who want to travel internationally.
Traveling when the US dollar is strong means you can help support the local economy while keeping your bank account healthy. You might not see big savings on flights—unless you score one Cheap flight deals or book with points and miles. However, you’ll likely spend more on the destination when it comes to accommodations, shopping excursions, dining and activities.
If you’re undecided on where to travel next, destinations like Japan, Canada, Brazil and several others are worth considering if you’re looking to save money.
Japan
Record number of tourists visiting Japan in 2024. According to Japan National Tourism Organizationthe country welcomed 3.08 million foreign tourists in just March. This is the first time Japan welcomed more than 3 million tourists in just one month.
What drives increased tourism? Favorable exchange rates for American travelers can play an important role. The value of the yen has been falling for many years. Earlier this year, it hit its lowest level since 1990, with the exchange rate currently at around 160 Japanese Yen to 1 USD. A few years ago, it took nearly 100 yen to equal one US dollar.
“Japan has been hot since last year,” said Erika Richter, a spokeswoman for the Organization. This place continues to become a popular destination when it opens its doors to tourists.” American Association of Travel Advisors, speak. “There was a boom period in Japan and that remains the case, especially now that the U.S. dollar to yen exchange rate is very favorable.”
Canada
A weaker dollar in our neighboring country discourages domestic shopping and travel Canada More affordable prices for American tourists. It’s a great situation for people who don’t want to travel far from home. The Canadian dollar weakened to a near five-month low against the stronger U.S. dollar, recently reaching CA$1.37 to $1.
If you’re looking to save money when traveling to Canada, consider planning your trip in advance with a travel advisor or tour company. If possible, buy in Canadian dollars – it’s a great way to lock in a lower price if you think the exchange rate may increase in the months leading up to your trip.
“There is a common misconception that things are more expensive when you book with a travel advisor,” Richter says. They are not like that at all.” “The price of what you buy is the same whether you book with them or not. You’re just getting an enhanced level of experience, and you’re getting someone who can help you make decisions that will keep you in within my limits.” budget.”
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Related: Sweet Spot Sunday: Book cheap flights to and around Canada with Aeroplan
Brazil
Brazil has long been considered an affordable destination for American travelers. Now, with the Brazilian real now worth around 5.15 reals to $1, there are even more bargains to be had. For context, the exchange rate was 2.21 reals to 1 USD a decade ago.
of Brazil Tourism board report that US tourist visits in the first quarter of 2024 increased 10.1% year-on-year and that more than 83,000 Americans visited the country. Total spending by international tourists in Brazil also reached its highest value since tracking began in 1995. In the first quarter of 2024, tourists spent about 10.45 billion reals (about 2.03 billion USD).
“More than ever, Brazil is on the radar of international tourists and the first quarter numbers clearly reflect this,” Brazilian tourism minister Celso Sabino said. “Spending by foreigners in our country has reached a historic milestone, showing the strength and potential of Brazilian tourism.”
Consider the favorable exchange rate and the fact that American tourists currently do not need a visa to travel to Brazil, now is a great time to book a trip to Brazil. Visa requirements are waived for American, Canadian and Australian travelers until April 10, 2025. Travelers can purchase applications at a cost of $80.90 per person through the electronic visa website death of this country. Avoiding that fee could mean significant savings for those planning a family visit before April 2025.
Other destinations to see
Colombia
Richter also suggested Colombia is the ideal destination for US travelers looking to get the most for their money. In the first quarter of 2024, the exchange rate is 3,900 Colombian pesos to 1 USD.
“Colombia is one of those destinations where we find people really want to explore more,” she said. “[It has] lots of rich cultural heritage, friendly locals and the US dollar is really valuable there.”
Korea
Korea was another destination where the currency hit a new low this year, as the won weakened more than 5% against the dollar. In April, The Korean won depreciated down to 1,400 against 1 USD, marking the lowest level in 17 months.
Korean cities such as Seoul and Busan offers many free and affordable activities. Visitors can visit historical and cultural sites such as museums and temples as well as natural attractions located near the sea or in the mountains. The country also has an affordable public transportation system that makes getting around easy and cheap.
Airfares for domestic travel or to other neighboring Asian countries can also be quite affordable if traveling with low-cost airlines such as Air Busan or Jeju Air.
Ways to maximize favorable exchange rates
Are you ready to splurge by traveling to an international destination that now has prices that fit American travelers’ budgets? Don’t forget to do these three things:
Bottom line
By monitoring the market and exchange rates, US travelers can predict which destinations will emerge as the next big bargains and determine where they may need their travel dollars the most.
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