If you’re dreaming of an international vacation, but don’t know where to go, how about heading to one of those places where the Canadian dollar is highly valued?
Narcity recently reached out to international currency expert Rahim Madhavji of Knightsbridge Foreign Exchange to find out where Canadians should go to get the most bang for their buck.
He says that, for example, the problems in Europe and Russia have “created some uncertainty for the economy of these regions”, which means that the euro has been impacted.
Although it is not safe to visit anywhere on the continent at the moment, Madhavji says there are places that are safe to visit and accept and use the euro. This means that, as a Canadian, you can always “benefit from the rising loonie”.
It’s worth bearing in mind that some of these countries aren’t necessarily cheap to fly, and the cost of things like hotels, transportation, and activities can vary.
However, Madhavji says the Canadian dollar is strong against these countries’ currencies right now, so your money will stretch more than it may have in the past.
That means now is the perfect time to visit if you’ve always dreamed of exploring these places anyway.
From Italy to Japan, here are a few places you can travel to right now where your Canadian dollars might stretch a little more.
According to Madhavji, one place Canadians should consider visiting right now is Turkey, where the Canadian dollar is particularly strong against the Turkish lira.
He explained that the country has been experiencing “political and economic problems for some time”, which has caused the value of its currency to plummet.
Canadians will be able to get around 14 Turkish liras for 1 Canadian dollar, starting August 12.
Better still, Turkey is often among the cheapest places in Europe for travellers.
There are some truly magnificent and iconic sites in the country, including the Hagia Sophia (Aya Sofya) Mosque, which is recognized as one of the most beautiful buildings in the world.
If you’ve explored Sweden’s mountain ranges on your bucket list, this might be your chance to go.
At present, Madhavji says the Canadian dollar is relatively strong against the Swedish currency, with 1 Canadian dollar being worth nearly 8 Swedish kronor.
The country offers more than 100,000 lakes, hills, the midnight sun and the northern lights, so it is perfect for nature lovers.
It’s not a cheap country to visit overall, but if you were waiting for a sign to visit, this is it!
If you want to head to the house of glorious pizza and pasta, now might be the time to do it.
Experts say the Canadian dollar is strong against the Euro right now, with one dollar getting you 0.76 in Europe’s main currency.
According PlanetWareItaly is one of the cheapest European countries you can visit right now.
You can save even more money by skipping summer visits and avoiding iconic (and more expensive!) destinations like Venice and Rome.
Another of the cheapest countries in Europe to visit right now, one Canadian dollar will currently get you around 88 Albanian leke.
Albania is considered one of Europe’s best kept secrets and offers historical sites, natural wonders and an impressive summer climate.
It also promises affordable restaurants, accommodations and countless free activities, so it’s an ideal destination if you want to stretch your budget to the max.
Currency expert Madhavji told Narcity that Japan “isn’t really raising interest rates like the rest of the world” at the moment, which means it’s a good opportunity for Canadians to get their money’s worth.
It’s certainly not a cheap destination to visit, but if seeing the country’s cherry blossoms, cutting-edge technology, iconic bullet trains and Mount Fuji are on your bucket list, don’t hang around. !
Canadians can expect around 104 Japanese yen for a single dollar right now.
Another country in Europe considered an affordable place to visit is Portugal, where the Canadian dollar will swing in your favor right now.
As Madhavji explained, countries on the continent continue to deal with the consequences of the Russian invasion of Ukraine, which has made the strength of the euro more uncertain than in previous years.
With the opportunity to get your money’s worth, you can explore Portugal’s golden sands, rugged volcanic hiking trails, beautiful harbors and more.
To save even more, consider visiting outside of peak season (June through August) and try out many of the free activities offered in the area.
Another sometimes overlooked place to consider adding to your 2022 vacation radar is Slovenia.
The Central European country is renowned among connoisseurs for its mountains, ski resorts and lakes, and its affordability compared to other European vacation destinations.
Surrounded by iconic destinations such as Italy, Austria, and Hungary, you can combine all of these countries into one epic low-budget adventure!
Before you go, check out our responsible travel guide to be informed, be safe, be smart, and above all, be respectful on your adventure.