Recession is the Best Time to Travel

It may be hard to find the best time to travel and people doubt if a recession could be a good chance. Recession isn’t a distant myth anymore. After the tough 2009 economic crisis, everyone around the world felt the dire effects of unemployment, devalued currency, and increased prices on consumer goods.But recession has also proven to be an excellent time for opportunity. In the business world, many start-ups have successfully launched during the recent recession and established companies have found innovative ways to expand and remain relevant. The same logic has applied to the travel industry.

However, if you were already planning on traveling and are simply concerned with the instability generated by the global recession, read on. Take that severance package, grab your savings and hit the road! Here’s why a recession is the best time to travel.

Why a Recession is the Best Time to Travel

Your dollar goes further

The global recession has shaken up economies all over the world. And as the US is getting back on its feet, some countries are still struggling to get their economies back to normalcy. Growth in Europe has slowed down dramatically, meaning the Euro is weaker than ever and almost on par with the US dollar. The recent Brexit has also shocked the British economy, leading to a devaluation of the strong British Pound.

But what does this all mean for you? Let’s do some simple math. You have just enjoyed a beautiful romantic dinner for two in Venice for about €80. In 2014 (when USD$1 was just €0.72), that would cost you $111. Today (when USD$1 is about €0.90), you’ll spend less than $90!

It can actually save you money

Besides cutting back expenses on your travel budget, traveling during a recession can actually help you save money in general making the best time travel. Of course, this depends on where you travel to.

One of the first signs of a recession is the increased prices on consumer goods, which in turn raises the general cost of living. This has been true both in the US and Europe during the recent recession, where you’ll easily be spending upwards of $100 a day while traveling.

But if you’re traveling to countries where the cost of living is much lower, you will actually be able to save money! You can do Brazil on a budget for as little as R$200 a day (~ USD$60) or enjoy a gourmet meal at a fine-dining restaurant in Chile starting from just CH$14,000 (~ USD$21).

Low-cost carriers are even cheaper

Low-cost carriers (LCCs) have really grasped how to take full advantage of the recession, and ironically it is the best time to travel. Lower jet fuel prices and a growing number of money-conscious travelers have led LCCs to offer increasingly competitive prices and packages. Grabbing a cheap flight to South America or into the heart of Europe has never been more affordable!

In fact, everything is cheaper

Apply that same logic to other businesses in the travel industry and you’ll find that it will be much easier to jet set around the world on a budget. Accommodation prices are becoming more competitive, local transportation is cheaper and grabbing a bargain while shopping is easier than ever.

It’s easier to travel than ever

Many of the countries that are struggling worldwide know that international tourism is one of the best ways to boost the local economy. So governments are making it increasingly easy for travelers to enter their countries. Visa fees have been scaled back and the process is much swifter as countries yearn to become attractive to tourists.

And yes, it’s still safe

The global recession has had economic and political effects. And the latter have scared off many travelers. For example, the political turmoil in Greece that followed its deep economic crisis was broadcast on the news nonstop, generating fears about the country’s safety for travelers. Those who chose to visit the country anyway, however, found an even friendlier Greek people, very attractive prices and fewer tourist crowds. When concerned about safety issues always check the country’s official tourism board and the US Department of State for an update on warnings and alerts to travelers.