With the dollar at near par with the euro, Americans returning to Paris in droves after two years of Covid restrictions are finding their greenbacks to travel a much longer route than they used to.
The euro slipped to par against the dollar this month for the first time in almost 20 years as a cut in Russian gas supplies to Europe fueled fears of a euro-zone recession.
It has since recovered slightly, to around $1.02 per euro, but remains a huge bargain for visitors, giving tourists from dollar countries a spending power boost of well over 10 percent compared to six months ago.
“It seems like visiting a local vacation spot in the US,” said John Perides, a retired engineer from Philadelphia, as he and his wife and a group of friends toured the souvenir shops and cafes of the capital’s Latin Quarter.
“Our dollar has gone a lot further,” the 75-year-old told AFP, adding he was glad the bill for a 12-day vacation didn’t exceed $5,000 per person.
Traci Pawlowski, a 55-year-old molecular geneticist from San Diego, said the favorable exchange rate makes prices “very affordable” and “comparable to the US.”
Restaurant prices, in particular, are now “comparable to California,” she said.
– ‘Somehow dependent’ –
Annabel Granger, an 18-year-old student from Virginia, said she finds Paris “a little cheaper” but, she added, “it depends on where you’re going”.
Jahzara Green, a Pittsburgh student, also 18, said the experience in Paris compared to a previous trip very positively.
“I’ve been to Europe before and I could definitely tell the difference. It was a lot more expensive then, but it’s the same now,” she said.
Vanguelis Panayotis, a French tourism expert who heads MKG Consulting, said he has seen “a clear impact” of the weaker dollar, particularly on demand for high-end hotels.
Americans spend big when they travel to Paris, he observed. “They come here to consume.”
Didier Arino, CEO of Protourisme, a consulting firm, said: “They fill the luxury hotels in the absence of the Chinese and Russians”.
However, some say that US tourists, with their above-average purchasing power, are not feeling the benefits of their stronger currency as much as less affluent visitors.
“It has no impact,” said Jean-Francois Rial, head of the Voyageurs du Monde group and head of the Paris Tourist Office.
Americans who travel to Paris tend to be “very rich” and largely immune to currency fluctuations, he said.
Instead, they caught up on traveling after two years without traveling. “Also, they booked their trips a few months ago when the dollar wasn’t that strong,” Rial said.
US airline bookings to Paris rose 11 percent between April and July compared to the same period in 2019, according to figures from the Paris Tourist Board, indicating a busy season for the French capital.
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