jeudi 12 février 2015

The fall of the euro, a headache for holidaymakers

GRAPHICS - Europeans have their holidays in Switzerland or the United States flambé. Japan draws.
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For vacationers who planned to ski this winter on the Swiss slopes, the instantaneous jump of the Swiss franc (22% in two days) increases the cost of the spending. As for travelers thinking of the United States, they are not better off Friday, the European currency continued to fall to hit $ 1.15, its lowest level since November 2003.

In one year, the euro weakened against most foreign currencies. Its effective exchange rate, which compares to a basket of currencies of our major trading partners, fell by 8%. The rocker took place in May after major announcements Mario Draghi, head of the ECB on future liquidity injections, said Philippe Gudin, an economist at Barclays responsible for Europe.

Jean-Francois Rial, CEO of Voyageurs du Monde clearly seen that the increase in the dollar "slows clients" to America. "Eight days in the United States, it is much more expensive than six months ago," says Geoffrey of Becdelièvre, president of Marco and Vasco agency that offers customized trips to America and Asia.

In this context of sharp depreciation of the euro, which the Europeans can travel cheaper?

Japan for two years a destination that attracts, notes Jean-Francois Rial. Last year, the archipelago has a record number of foreign visitors to 11 million. Since coming to power of Abe end of 2012, combined with the Governor of the Central Bank, which rotates the printing without moderation, the yen has lost 30% of its value against the greenback. Against the euro, the yen lost in the same period 15%. But over the past year, the yen regained 7% against the euro, which makes the advantage of less interesting change for European travelers and Americans.
destination Moscow
The ruble is the currency that undoubtedly provides residents of the Old Continent the best gain in purchasing power. Ukrainian crisis and the oil price drop led the Russian currency in a historic slump. The ruble has lost 40% against the euro. The political situation rather deterred tourists earlier this year, Benedict acknowledges Lardy, founder of the agency Tsar Voyages, based in Moscow, with a branch in St. Petersburg and one in Paris. "The high season (May-September) was not good," he admits. But Benedict Lardy is a change. Promotions during the Russian New Year seduced European tourists. The effect of the ruble decline is more important than inflation in Russia. "There was a shudder, including the upscale segment, become more affordable and more importantly neglected by businessmen," added the French long established in Russia.

Other attractive currencies: the Swedish krona and the Norwegian krone weakened against the euro. Tour operators expect no currency effect for these destinations because the providers charge in euros and the change in the exchange rate has remained modest. In general, professionals point out that, even in Asia, vendors charge in dollars. "The price of a trip fluctuates according to the season, the occupancy rate, the price of oil, more than the exchange rate," said Jean-Francois Rial. Then turn to what destination to enjoy the Euro purchasing power? As a joke, the Voyageurs du Monde pattern suggests ... Albania. With euro 140 leks, prices are unbeatable!

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