From temples in Japan and thermal baths in Hungary to the Cyclades in Greece, American tourists are everywhere this summer, and Athens is among their top 10 destinations.
As the dollar appreciates, the value of the money in Americans' pockets seems to be taking them even further.
Growth rates in the US economy, which are higher than in Europe and beyond, are attracting investment to the US. These inflows are pushing the dollar to its highest levels in years, with the U.S. currency having appreciated 15% against the yen and 2.3% against the euro since the end of 2023. In countries like Argentina and Vietnam, the dollar's purchasing power has never been stronger, notes the Wall Street Journal.
With higher wages in their pockets and record investment income, Americans are hopping on planes en masse to every corner of the globe, boosting economies abroad and driving up and down real estate markets in Europe and elsewhere.
Nearly 3 million passengers passed through Transportation Security Administration security checks on June 23, setting a new record. And on these trips abroad, Americans are sparing no expense: They're staying longer, booking pricey excursions and bringing along extra suitcases they stuff with souvenirs and other purchases.
Especially in Japan, U.S. money has become even more popular as the yen recently fell to a 38-year low against the dollar.
According to Mastercard, the top destinations for American tourists this summer are Cancun in Mexico, Aruba and London. Tokyo is also in the top 10, as is Athens.
According to Axios, Albania is also rising in preference for American travelers, as prices in the country are still much lower than more established European destinations. Romania is also on the rise, in part because it recently partially joined the Schengen zone, making travel easier.
In Greece, bank figures show that arrivals from the US increased year-on-year in the four months from January to April by 62.1% to 267,500 tourists. Travel receipts from American tourists rose 35.7% to 204.6 million euros. | BGNES
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