Is Germany Getting Less Expensive?
Filed in Economy
If you follow the world economic news at all, you know that Germany is caught up in a tangle of European finance. German’s own economy may not always shine, but it is relatively stable. However, not all of our neighbors are doing as well!
As a result of our stability, many people around the world look to Germany for financial help in times of stress. Whether this is eastern European banks looking for help due to mortgage backed securities issues or Greece looking for help with its debt, Germany gets the call. German leaders offer advice, make speeches, and sometimes commit to large bailout programs along with other European nations.
What is this doing to the Germany economy?
In many ways, the average person doesn’t see a lot of change in the street. On a broader level, however, Germany’s economic fate is linked to that of the European Union. Thus, you can look at the euro for a gauge of price trends in Germany.
Looking at the last few months of euro trading, you can see that the economic stress across the European Union has been putting significant downward pressure on the euro. This makes it more expensive for Germans traveling outside the euro zone (as I’ve discovered at airport currency exchange stations), and also makes some imported goods more expensive for local shoppers.
On the other hand, this downward pressure on the euro makes it easier than ever for you to visit Germany. As currencies like the dollar, pound, and yuan appreciate against the euro, the real cost of hotel stays, train tickets, and nice dinners goes down for visitors like you.
Thus, if you are thinking about taking a trip to Germany, you may want to think about doing it soon! The euro has been through a lot of up and down cycles over its lifetime, and who knows what will happen next?
Take advantage of the current dip in the value of the euro to enjoy a Germany that is both beautiful and more affordable than ever. :-)
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