At its height the Euro has been worth about 55% more than the US dollar. That means for every euro you want to spend on vacations in Greece, Spain, the UK or France you had to pony up $1.55 American.
Yesterday the euro fell to a 14-month low against the dollar. Due to financial challenges and high debt loads now facing Greece, Spain, Ireland and Portugal, the value of the euro is fading.
The European and American stock markets continue to sputter and the worlds debt problem continues to mount. However, one unexpected benefit is that the US dollar and the EU euro are getting much closer in price.
The euro is currently trading at roughly $1.25 in comparison to the dollar and some analysts are projecting the summer target to be around $1.14.
Generally speaking this means travel for Americans to Europe just got significantly cheaper. Historically, Californians and especially Los Angelenos have accounted for a large percentage of American tourism abroad. With the governments and corporations of many European countries trying to attract tourism revenue, and the euro trading at two year lows, now may be the time for Californians to take a few week off and travel.