Travel costs are skyrocketing and all the planes are full — and while Americans want to travel now, more than ever, it's hard to find a deal.
and which AAA said stood at an average $4.59 ahead of the holiday weekend.
In one recent survey by Allianz Insurance, travel spending by Americans will near the $200 billion mark — a record that represents a 26% increase over last year and a whopping 229% increase over 2020. Americans are expected to spend an average of more than $2,600 per person on summer vacations this year, a 30% increase from pre-pandemic levels.
The few deals out there are outside the U.S., in part because of fear related to events in Ukraine and partly thanks to the power of the U.S. dollar against so many foreign currencies. For example: Travelers who book before June 1 can fly this summer between Chicago and Dublin for just $436, Philadelphia to Amsterdam from $520, San Francisco to Paris for just $720.And the U.S. dollar is at its strongest point in 20 years against many currencies. Recently, the Euro dropped as low as $1.03, the lowest exchange rate in five years, and was at a low $1.06 on Friday. That puts many EU countries in the bargain category.
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