The cost of a sushi dinner in Tokyo will be more palatable to U.S. tourists this summer than it was a year ago.
That’s because the value of the dollar has shot up 20 percent against the Japanese yen in the last 12 months, a result of aggressive stimulus by the Bank of Japan. That means the 820-yen charge to ascend the Tokyo Tower – Japan’s answer to the Eiffel Tower – costs $8.57. Last summer, 820 yen was equal to $10.31.
The dollar has also climbed against the South African rand and Brazilian real, which helps U.S. tourists looking to prowl game reserves or enjoy the nightclubs of Rio de Janeiro. They’ll be part of what’s expected to be a particularly busy summer travel season. U.S. airlines are expected to fly 27.4 million passengers internationally this summer, according to Airlines for America, an industry lobby group. That would be a record high and up from a low of 24.1 million in the summer of 2009.
Travelers to Mexico and countries that use the euro currency will have to dig deeper into their pocketbooks. The dollar has fallen against the euro and Mexican peso since last summer.Associated Press