The throngs of American tourists in Europe will benefit from the dollar's parity with the euro this summer.
The strong dollar is owed in part to the Federal Reserve raising interest rates more aggressively than the European Central Bank has, giving the greenback more heft."Now the euro is as low as it's been in a long time. Any American traveling to Europe now will get really good boost to their real income when they come here at the current exchange rate," said Angel Talavera, head of European economics at Oxford Economics.
Boutique-hotel booking platform Tablet Hotels has kept close tabs on rising accommodation rates at over 6,000 properties worldwide. Consumers who want to lock in a favorable exchange rate can prepay for their bookings. But the dollar is expected to remain strong for months to come.
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