Falling commodity prices and dovish central banks have created the best travel opportunity in many, many years.
Over the last two years, oil prices have fallen 70% and the rest of the commodities are down big time. At the same time, China struggles and central banks all over the world seem to compete with who’s going to lower the interest rates the most, just to dope their own inflation.
But why writing about this on a travel blog?
Because it might be the best travel opportunity for you in many, many years!
As big capital flees from currencies connected to these countries to find safety and yield someplace else (preferably with the US dollar), some countries that were ridiculously expensive have turned amazingly affordable during the last year.
Americans save 51%
Canadians save 26%
Europeans save 33%
With a plunged currency and big cuts on corporate traveling in the oil industry, oil-based Norway just waits for foreigners to fill empty hotel rooms and plane seats. And what’s best – it still is one of the safest, cleanest and most convenient countries in the world.
With amazing outdoors, state-of-the-art skiing, midnight sun and northern lights, Norway is my top pick for this year’s vacationing.
Wintertime, don’t miss the northern lights in Tromsø, maybe the best place to spot the aurora’s on the planet because of how fast the weather changes. A couple of days in the village will guarantee at least a couple of opportunities with clear skies.
Summer or early fall, rent a car and drive to the many cliffs and fiords that you have seen so many pictures of. Trolltunga, Preikestolen and my favorite, Kjeragsbolten. Don’t forget to visit Bergen, which is the architectural heart of Norway. Bring a raincoat.
Oslo is a great weekend destination and a perfect stopover if you fly to Europe or Scandinavia with Norwegian Airlines. Ski on Tryvann and don’t miss Korketrekkeren, the world’s longest toboggan run. Rent a sledge or bring your own. The subway train will take you to the top of the hill. Be careful. I broke my thumb.
2. Vienna, Austria
Americans save 52%
Canadians save 28%
Europeans save 30%
The euro has fallen big time compared to the US dollar after the turbulence with Greece and the action of aggressive stimulations from the European Central Bank. But it has also attracted a big number of foreign travelers to, for instance, Paris, Rome, Barcelona and Venice. Hotel prices have actually increased quite a lot, but these cities have also overshadowed other destinations that are equally interesting.
Every dandy should visit Vienna, the capital of classical music and home to the most stunning Art Nouveau architecture. Now down staggering 30% on hotel prices due to heavy oversupply. So take this opportunity to wander around the home town of Mozart for less. Make sure to attend Musikverein, as they play similar repertoire to the New Year’s concert even on other dates. The Spanish Riding school offers a unique experience with beautiful equestrian dressage, and if you’re still not tired of horses after you get out, there are chariots all over the city to take you wherever you please. You will feel like being back in the 19th century!
For non-Mozartophiles, The Golden Quarter offers a lot of nice upscale shopping and Schönbrunn has a great zoo. Arriving in winter? Don’t forget to visit Vienna Ice World, an amazing ice skating course with cool iced paths, alleys and bridges down by the parliament.
3. Stockholm, Sweden
Americans save 33%
Canadians save 8%
Europeans save 15%
Sweden is not a commodity-driven economy. The country is in fact doing really well, but the change of government from liberal to socialist combined with a very low inflation has caused the central bank to impose negative interest rates and sent the Swedish currency to all-time-lows. So take this opportunity to visit the most high-tech and service minded country in the western world.
With Vienna being the capital of classical music, Stockholm is probably its equivalent for Pop! Avid house music fans – make sure not to miss the Summerburst music festival. More traditional pop enthusiasts, may not leave until they have seen the Abba Museum and this year’s Eurovision Song Contest.
To maximize your visit in Stockholm, go from late May to early August, stay in the city for a few days and treat yourself with an additional few days in the archipelago, preferably Sandhamn or Möja. Best way to go about it is by yacht, but the public transport is superb. If you’re in town for a quick stopover, just have a nice glimpse of the archipelago in Vaxholm by taking the Vaxholm ferry.
Stockholm offers great waterfront lodging along beautiful Strandvägen in the very center. Go by foot and don’t miss the islands of Skeppsholmen, Djurgården and Gamla Stan with many attractions such as museums, the world-famous Skansen and the small narrow medieval alleys. Public museums in Sweden are free of charge as of 2016, which saves you another big bill for a rainy day.
Americans save 25%
Europeans save 1%
Make sure to pay a visit to oil-driven Canada. The country has got it all and it’s on sale now. For every season! I’m not missing out on the spring in the Oakanagan, the summer in Toronto, the fall in Banff and the winter in Whistler.
Americans save 25%
Canadians overpay 2%
Europeans save 5%
Low oil prices and troubles in China have sent the Aussie dollar way down under from where it used to be. But it’s not much of a difference for Europeans. Canadians, who struggle with a weak currency themselves, would even lose a couple of cents on going there right now. But fortunately not too much.
Australia is a magical place with amazing wildlife, beautiful national parks and perfect beaches. You really should pay a visit down under if you haven’t done it before. Make sure to visit the Whitsunday Islands, but make sure to read my Ultimate guide to the Whitsundays before you go.
Vaud, Switzerland – Everything but a bargain
Everybody overpays by at least 15%.
But not everything is about the money. The little canton of Vaud north of Geneva is a beautiful sweet spot and you will have to pay the premium for time spent there, especially when you own Canadian Dollars and Swedish Crowns like we do. But we have fallen in love with the place and we can’t wait to return.
So if you truly want to go some place, don’t mind the fact that you are a currency loser. Go, be a wise spender and smile. Soon time will change and you will be the winner.