For traveling Americans, Europe will cost up to 20% more this year than last. The primary reason is the devaluation of the dollar; in addition, most European currencies have been revalued upward. The combination of the 8.6% dollar devaluation and an average 4% upward revaluation of European currencies leaves the dollar with about 12% less purchasing power than last year. On top of that, inflation in Europe has added to the costs.
Although transatlantic air fares and American Express tour prices are about the same as last year, almost everything else has shot up. In London, a double room at...
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