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Is cheap euro driving people to Europe?

Marketplace Staff May 17, 2010

Is cheap euro driving people to Europe?

Marketplace Staff May 17, 2010


Steve Chiotakis: You just heard us talking about how weak the Euro’s gotten. It’s been hovering near a four-year low. One euro is equal to $1.23. We’re wondering if that’s got people storming off to Europe for a bargain vacation. Tom Myers is the editor in chief with EuroCheapo.com, a budget travel website. Good morning Tom.

Tom Meyers: Good morning.

Chiotakis: Well the euro is cheapo today, how’s business for you?

Meyers: Business is OK. We’re definitely seeing a spike in traffic with Americans.

Chiotakis: And how hard is it to get the euro here in the states? Say I wanted to travel to the continent and I wanted to pick up a few euros. How would I do that?

Meyers: Well you could certainly go to your bank and get those ahead of time, but I wouldn’t recommend that. I’d say get a few before you head over. But once you get to Europe, head for the ATM at the airport.

Chiotakis: How do you account for what’s happened? Have you seen this type of decline before?

Meyers: Well, we haven’t seen this decline. But we’ve certainly saw the euro gain on the dollar after its introduction in 2002, so it’s sort of nice to see this reversal for us, for Americans.

Chiotakis: And people were calling it almost a replacement of the dollar, right?

Meyers: Right. And now what is it? $1.24.

Chiotakis: Yeah. And do you see this drop continuing?

Meyers: Well, again, from the selfish American perspective, perhaps yes, it would be nice to see the euro drop further.

Chiotakis: All right. Tom Meyers from EuroCheapo.com. Tom, thanks.

Meyers: Thanks.

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