The euro for the first time in 20 years is equal to the dollar, and travel to Europe has become cheaper for Americans: top 10 places to go

For the first time in 20 years, the exchange rate between the euro and the US dollar has almost coincided - the two currencies differ from parity by less than one cent. This is a very favorable time to travel to Europe, reports CNN.

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The euro hovered around $1,004 on July 11 afternoon, down about 12% year-to-date. There are many fears on the continent of a recession fueled by high inflation and energy instability caused by Russia's invasion of Ukraine.

The European Union, which before the war received about 40% of its gas through Russian pipelines, is trying to reduce its dependence on Russian oil and gas. At the same time, Russia has limited gas supplies to some EU countries and recently cut gas supplies via the Nord Stream gas pipeline to Germany by 60%.

Now, this important part of Europe's gas import infrastructure has been closed for scheduled maintenance for the past 10 days. German officials fear it will no longer be included.

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"Given the nature of Germany's exports, which are sensitive to commodity prices, it remains difficult to imagine that the trade balance could improve significantly from here in the next few months, given the expected slowdown in the eurozone economy," Saxo Bank's currency strategists wrote.

A series of aggressive interest rate hikes by central banks, including the Fed, coupled with economic slowdowns, will put pressure on the euro, while orienting investors to the US dollar as a safe haven, analysts said.

The US Federal Reserve was well ahead of Europe in tightening policy, raising interest rates by 75 basis points, while indicating that there will be further rate hikes this month.

This safe haven towards the US dollar could become even more extreme if Europe and the US enter recession, George Saravelos, head of Deutsche Global FX Research, warned in a note last week.

A situation where the euro trades below the US dollar in a range of $0,95 to $0,97 could be “quite achieved,” writes Saravelos, “if both Europe and the US find themselves sliding into a (deeper) recession in the third quarter, while the Fed is still raising rates.”

This is good news for Americans planning to visit Europe this summer. Now their travel to Europe has fallen sharply in price (hotels, restaurants, shopping).

10 holiday destinations in Europe

For many travelers, exploring European destinations is not only an item on their wish list, but a lifelong goal. With so many regions and cities to visit, it could take years to see them all. planetware.

The best time of the year to travel around Europe is summer. Especially this summer, when the exchange rate of the dollar and the euro coincided. This will make your trip much cheaper. While many of the best places to visit in Europe experience all four seasons, the optimal summer weather makes it easy to get around, shed a few layers of clothes and bask in the glorious sun on ancient terraces and soft sandy beaches.

Lisbon, Portugal

No trip to Europe is complete without a visit to Lisbon. Generous and enthusiastic, the Portuguese will greet you with warm smiles and hearty meals. Thanks to the surge in direct flights in recent years, access to Spain has never been easier or more affordable.

When you fly into this Portuguese capital, prepare for a workout: in the city known as the City of Seven Hills, you can expect ups and downs, downs and ups - and so on. Don't worry, hop-on, hop-off buses and trolleys like San Francisco's make it easy to give your legs a rest.

There are many historical buildings here, from the Castle of San Jorge to the Santa Justa ski lift and the Ponte 25 de Abril bridge. The Eduardo VII Park is the city's largest park and offers perhaps the best view of the Marquês do Pombal Square, Avenida da Liberdade and the sparkling Targus River.

Don't forget to make time for a short trip to the beach, 20 minutes away, for pastel de nata, a delicious local dessert. The beautiful Doca de Santo restaurant, renovated in 2018, offers delicious food as impressive as the river view.

Reykjavik, Iceland

Reykjavik may not be the first place that comes to mind when you consider places to visit in Europe, but it should definitely be on your list. While many people fly to Iceland hoping to see the Northern Lights, some travelers choose summer for endless sunshine. And by endless, we really mean endless: from mid-April to mid-August, there is no darkness in Reykjavik due to its geographical location.

If you don't mind using blackout curtains to get some rest, this city has some of the most gorgeous hiking trails and lookouts. Imagine: colorful fields of greenery and flowers, blue skies against the backdrop of the healing waters of the Blue Lagoon and perfect weather.

Apart from nature art works, the city of Reykjavik is the largest city in the country and is the capital. Here you will find charming shops and restaurants with seafood, including sharks, and a stunning concrete church called Hallgrimskirkja. Most tourists also enjoy circling in the Perlan Dome, which rotates to offer views of the city, ocean, and countryside.

Azores, Portugal

Despite the vast size of the territory, the nine islands that make up the Azores are a few hidden gems off the main coast of Portugal. These green islands are magical and serene, home to UNESCO World Heritage Sites, hot springs, bubbling geysers, bubbling mud pots, dark caves and romantic grottoes. Come here in the summer to see all these outdoor wonders.

Sao Miguel is the largest of the Azores, a real beauty filled with adventure and many tourist attractions in Ponta Delgada, its capital. On this and other delightful islands, get ready for some wild entertainment. From cycling to paragliding, hiking and caving, there are so many things to do in the Azores, especially during the peak summer season.

See majestic blue lagoons, volcanic craters and towering mountains so striking you'll have to stop to catch your breath.

Crete, Greece

It is easy to see why Crete is considered one of the best places to visit in Europe during the summer. This Greek beauty is a paradise for travelers who love fresh food, historical tales, archaeological sites and stunning views of the bright azure waves washing the volcanic shores.

The soft sandy beaches of Crete are not to be missed, especially if you are looking for a way to soak up the warm summer rays. If you only have time to visit one, put Elafonissi beach at the top of your list of must-see beaches in Crete. This is one of the best pink sand beaches in the world, located just two hours from the popular city of Chania.

Popular tourist cities in Crete include Chania, Agios Nikolaos and Rethymnon. Many fly into the city of Heraklion, which is also worth a visit, if only to see the Palace of Knossos, one of the best archaeological sites in Greece.

Paris, France

There is so much to love about Paris! Although hot and humid at times (especially in August), this popular destination is one of the best places to visit in Europe during the summer.

Yes, you'll have to expect higher prices for things like hotels, flights, and tourist attractions, but being able to leave your sweater behind while you browse the sites makes the extra expense more than worth it. In fact, the weather from June to August is almost perfect.

In addition to dining al fresco, the summer climate opens up many enjoyable things to do in Paris, such as lying on the beach, watching outdoor movies, dancing at an outdoor concert, or watching bikers enter the city during the Tour de France.

Save yourself from the sun (or rainy July days) by visiting some of the best museums in Paris or seeing Notre Dame Cathedral.

With so many fun things to do in Paris, you really have to say "Mais oui, Paris" on your summer trip.

Tenerife, Spain

Tenerife tops the list of the world's best wedding destinations. Once you see its gorgeous sandy beaches, dazzling azure waves and lush nature reserves, you'll understand why: it's downright romantic.

A hotspot for travelers to Europe in the summer, Tenerife is one of the best places to visit in the Canary Islands. In summer, most visitors spend most of their time burying their toes in the soft sand, but it would be wrong to miss a visit to the wonderful Teide National Park. Take comfortable walking shoes and plenty of water if you plan to hike this volcano, the third highest in the world.

During the summer in Tenerife, you can expect dry sunny skies with temperatures sometimes exceeding 28 degrees Celsius. You will be sharing the streets with many other tourists from all over the world, as this is one of the best places in Europe to visit during the summer, so it is best to book your hotel room and dinner in advance.

Edinburgh, Scotland

Summer in Edinburgh is a magical time. While you're unlikely to sweat (highs hover around 19 degrees Celsius), these ideal temperatures make it easy to spend an entire day in comfort exploring the city's top tourist attractions.

Edinburgh Castle is a must visit, especially when the sun is shining. Dominating the city and not to be missed, this historical site is one of the best tourist sites in Scotland. Summer gives visitors the opportunity to admire the lush vegetation that rises up the hill to the castle, and its flowering gardens, accentuated by the bright blue sky.

June, July and August are the perfect months to explore Edinburgh's best parks. Be sure to pack for a picnic so you can stay even longer to fully enjoy the fresh air and scenic surroundings.

Don't miss the Royal Mile, the magnificent streets that connect Edinburgh Castle to Holyrood Palace.

Madrid, Spain

Let's not lie, Madrid can get hot in the summer. We're talking about sweat running down your back long after the hot sun has set. Don't let temperatures over 30-plus degrees Celsius scare you, Madrid is still one of the best places in Europe to visit during the summer.

This Spanish gem offers such delicious food that you'll be dancing for joy to live music. Tip: June and July are the best summer months to visit; some shopkeepers take a vacation in August.

The Mad Cool music festival takes place in early July, offering guests the opportunity to dance to their favorite artists in a large open-air venue.

Once you've had enough walking around Madrid's busy streets and crowded tourist attractions, take a bus, train, or rental car to explore the many places and cities worth a day trip. Tour of Toledo and Segovia offers a tour of three cities in one day.

Amsterdam, Netherlands

The Netherlands is proud of its environmental friendliness. Given the country's flat and scenic terrain, it's no surprise that the preferred mode of transport in the Netherlands is cycling. The country boasts 32 kilometers of cycle paths and it is said that every Dutchman owns two bicycles. You will see thousands of them on the roads of the capital city of Amsterdam, especially in summer.

While public transportation isn't difficult, you won't have to fiddle around with trains or buses if you rent a bike during your trip. But if you're crossing the street as a pedestrian, be sure to look both ways - many cyclists pass quickly.

Slow down as you pass impressive townhouses reminiscent of the Golden Age in their canal-hugging splendor. Cruise the waterways to pass under inspiring bridges and view townhouses from a different perspective.

While on land, don't miss the vast Rijksmuseum, the magnificent Van Gogh Museum, and the humble Anne Frank House. While summer is already too late in the season for spectacular tulip views (at the end of March there is a tulip festival that goes on until early May), there is plenty of beauty to see while wandering the canals, popping into the shops and enjoying a meal on the terrace .

Barcelona, ​​Spain

In summer, this pink city becomes colorful, attracting both tourists and locals to its shores. Especially in July, you won't be able to resist the sun on the beaches after a morning sightseeing in the city.

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From the fantastic Sagrada Familia to Antoni Gaudi's infamous Parc Güell, Barcelona is a rare combination of historical significance and modern practices. Whether you're strolling around or pedaling, you can stop for tapas or, like the Spanish do, take a siesta at a hotel or Airbnb.

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