There’s never been a better time to be a tourist—as long as you’re paying in dollars.
Major currencies worldwide have plunged in value, meaning each US dollar buys more euros and renminbi today than it did one year ago. For American tourists, this is good news: for instance, no museum listed here changed the sticker price of admission, but visitors can take advantage of a built-in rebate. With major economies outside the US struggling for economic growth, the ‘red carpet’ of deep discounts for tourists has been rolled out.
Radical political parties in the Eurozone—including Syriza in Greece, Podemos in Spain, and Sinn Féin in Ireland—are riding a wave of popularity. The continent's debt crisis has pitted the creditor countries, most importantly Germany, against debtor countries like Greece. On an international level, the northern European creditors have managed to implement policies that are forcing the debtor countries to take on most of the adjustment burden.