MyTravelCost.

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The MyTravelCost.com Information Bulletin

Fall 2011 Edition This four page bulletin provides money saving tips and informs travelers about the prices they will encounter in different countries.
How expensive are different countries relative to the U.S.?
Turkey Poland Mexico Chile Hungary Slovak Republic Korea Czech Republic Estonia United States Slovenia Portugal Greece Italy Spain Germany Netherlands Israel Austria Iceland United Kingdom France Belgium Canada New Zealand Sweden Luxembourg Ireland Finland Japan Denmark Australia Norway Switzerland 0
59 70 72 78 82 85 87 88 97 100 103 110 110 113 115 122 126 126 126 127 128 132 132 133 138 140 140 142 144 156 167 167 175 215

In the graph, the U.S. is the benchmark with an index of 100. The greater the index of another country, the more expensive relative to the U.S. it is.

Example: If one budgets $2000 for a one week holiday in the U.S. including a hotel, food, transport, entertainment, and shopping, the same holiday would cost about: $2000*2.15 = $4300 in Switzerland $2000*0.59 = $1180 in Turkey Did you know? On the first Sunday of every month, most museums in Paris are free of charge, including the Louvre. Most major cities in Europe offer free guided tours by local volunteers. The guides are in multiple languages and can be arranged with a simple advance registration.

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MyTravelCost.com travel prices and money saving tips Frequently asked questions about the index Are the price indexes relevant to travelers? The indexes are very broad and include everything that is being sold in the country. They are relevant to anyone, including a traveler, who spends money on lodging, food, transport, shopping, entertainment, and various services. Of course, the indexes give average information and are not precise in each individual case. However, they give an excellent benchmark about what to expect after landing in a foreign destination. What is the source of this information? The information is compiled by the Organization for Economic Cooperation and Development (OECD), a 50 years old economic organization of 34 developed countries. The OECD publishes the most regular updates on international price comparison available anywhere. How to compare the prices of, say, France and Italy? Look at the difference between the indexes of France and Italy: (132 113) / 113 = 17. In other words, prices in France are 17 percent higher than in Italy. Do these rankings change over time? Yes. The countries have different inflation rates and their prices grow at different speed. Even more importantly, the currency conversion rates change all the time. A U.S. traveler going to Europe will have to pay more in dollars for anything he/she buys there if the dollar has lost value relative to the euro. Save money on accommodation Booking.com has a new function called flash deals. Each week you receive a listing of hotels globally with 50 percent discount off their regular prices. Holiday rentals cost about the same as a double room in a hotel. Yet, they accommodate more people reducing the per person cost. The so-called price comparison websites search several booking websites simultaneously to find the lowest price available on the internet. One example is hotelscombined.com Greece (still beautiful, despite its debts) May we suggest some destinations? New Zealand

MyTravelCost.com travel prices and money saving tips What can you expect to pay for gasoline in different countries?

Mexico USA Canada Australia Japan Hungary Spain Czech Republic Austria France Germany Belgium Italy United Kingdom Denmark Netherlands Greece

0.85 0.89 1.17 1.41 1.68 1.73 1.77 1.82 1.90 2.12 2.13 2.15 2.17 2.19 2.21 2.24 2.24

The graph shows the price of a liter of unleaded gasoline, in U.S. dollars. Example: Lets say you drive a car with 25 miles per gallon mpg. A journey of 100 miles will cost: $13 in the U.S. $32 in Germany $33 in the UK $34 in Greece
Source: U.S., Australia, and Canada Departments of Energy, energy.eu.

Why do we see such large price differences for gasoline across countries? With the exception of some petrol producers, all countries buy oil on the international markets at the same price. Therefore, the price differences at the retail level are due to the excise taxes levied in different countries. Generally, as oil prices increase or decrease, the retail price of gasoline would increase or decrease proportionally in all countries. Transport tips On viamichelin.com you can map out a driving trip between any two destinations in Europe and obtain an estimate of travel distance and time as well as information about tolls. Most cities in Europe have something called a city travel pass. This is a ticket that gives you full and unlimited access to the entire city transport system for several days. For 30 euro or so you get days of easy travel.

MyTravelCost.com travel prices and money saving tips How much can you get for a dollar? If the dollar is more expensive, foreign destinations become cheaper. Example: For U.S. travelers, Switzerland now is 10 percent more expensive than last year because the Swiss Franc increased in value relative to the dollar by 10 percent. For one U.S. dollar November 1, 2011 0.72 0.62 80.38 12.34 1.02 0.99 For one U.S. dollar November 1, 2010 0.73 0.63 78.21 13.71 1.02 0.89 Change Almost no change Almost no change Almost no change Dollar is 10% more expensive Almost no change Dollar is 10% cheaper

Euro UK Pound Japanese Yen Mexican Peso Canadian Dollar Swiss Franc

Source: Bank of Canada

Will the dollar become stronger in the future? It is almost impossible to predict the exchange rates over a period of six months to a year. Exchange rates are influenced by too many factors that work in different directions. Also, many factors are unpredictable. The best idea is to keep regularly informed about changes.

Did you know? The public bus number 69 in Paris takes you around most of the main attractions of the city for a single ticket of 1.7 euro (about 2.5 dollars). The Great British Heritage Pass gives free or discounted entrance to over 400 sites throughout England, Scotland and Wales. Moreover, it also allows you to skip long queues. Eat for free in Milan: During aperitivo time, usually between 6 and 9 pm, most bars in Milan offer all-you-can-eat buffets, if you just buy a single drink (5- 10 euro). The food can include peanuts, chips, olives, pizza, pasta, and meat.

About MyTravelCost.com MyTravelCost.com informs travelers about price differences across countries. It also provides money saving tips and suggestions for travel sites. Feel free to let us know if we can provide additional information. We keep track of international prices and can be of help.
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