Increased value of dollar versus most major currencies worldwide provide American travelers with extra buying power.
PLYMOUTH, MINN. – As the U.S. Dollar continued its dramatic rise against most major world currencies, including its highest level against the Euro last week since November 2005, Travel Leaders Group is advising its clients that now is perhaps a historic opportunity to enjoy Europe, along with other major world destinations at a reduced cost from just a year ago. On Friday, January 16, the value of the U.S. Dollar closed at .86439 against the Euro; the last time it came that close was November 12, 2005, when it closed at .85219. With over $20 billion in annual sales volume, Travel Leaders Group is North America’s largest traditional travel agency company with more than 6,500 locations and brands including Protravel International, Tzell Travel Group and its flagship Travel Leaders units.
“It’s always been a traveler’s dream to enjoy seeing the world on a strong dollar. Now Americans are getting their wish – it really is a buyer’s market for American travelers. Now is the time to travel to Europe,” noted Barry Liben, Travel Leaders Group CEO. “What’s particularly intriguing for us as a company is that Travel Leaders Group is coming off a record year in terms of annual sales volume. A large percentage of that was fueled directly by our clients traveling further afield internationally and accepting what they perceived as a ‘new normal’ in pricing – from higher international airfares to increased hotel costs – much of that determined by the value of the dollar against other leading currencies like the Euro, Pound and Yen.”
Liben pointed to findings from Travel Leaders Group’s recently released 2015 Travel Trends Survey, conducted prior to the recent spike in the value of the dollar, as a major indicator of what may result from the buying power the dollar now affords.
“Already this year, most of our agents have indicated that their bookings are up year over year and that their clients are spending more,” Liben explained. “We expect that this historic shift in the value of the dollar will further increase those sales, perhaps even exponentially.”
Travel Leaders Group is one of North America’s largest travel companies – encompassing approximately one-third of all travel agents – and generated gross travel sales of approximately $20 billion annually. Travel Leaders Group is a leader in both the retail travel agency space and corporate travel, and it consistently ranks as one of the top travel companies nationwide.
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