If you are currently seeking a country to travel where the United States dollar has more purchasing power due to a favorable exchange rate, know that the dollar increased by 555% against this currency over the past ten years.
Dollar Increased by 555% Against This Currency Over Ten Years — But…
The currency in question is the Egyptian pound. When I was in Egypt exactly ten years ago today, I received 7.58 Egyptian pounds to the United States dollar.
Today, that same dollar will get you almost 50 Egyptian pounds, which is among the lowest levels in the past ten years and an increase of approximately 555 percent.
Unfortunately, that strengthening of the dollar does not necessarily proportionally match lowered costs. During my aforementioned visit in Egypt, I was able to secure hotel rooms for less than $60.00 per night in Hurghada with Hilton. Today, the only hotel property that Hilton has left in Hurghada is Hilton Hurghada Plaza, of which the lowest room rate I can find is $94.40 per night plus taxes, which brings the total to $121.74 per night…
…or you can get a room at the Hilton Marsa Alam Nubian Resort property by the Red Sea for as low as $221.81 per night — and that includes all taxes for an all-inclusive stay for two people, which is actually a good deal when you consider that the rate includes lodging and meals.
Similar results can be found for lodging options from other multinational companies — such as Marriott International, Incorporated and IHG Hotels & Resorts.
Then again, you can get a room for as little as two dollars per night plus taxes, which totals $3.60 per night — if you are willing to share a bathroom at an independent property — if you search multiple Internet web sites for the least expensive lodging options in Egypt.
If Egypt is not in your travel plans but you still want to visit a country where you can maximize the spending power of the United States dollar, consider visiting these other countries — in n particular order:
- Peru
- Malaysia
- South Africa
- Indonesia
- Mexico
- Lebanon
- South Korea
- Nigeria
- Japan
- India
- Argentina
- Turkey
- Hungary
- Chile
- Colombia
- Vietnam
- Iran
Final Boarding Call
Favorable currency exchange rates do not necessarily proportionally translate to bargains — but they do improve the purchasing power of the stronger currency.
Many complex reasons and algorithms dictate the nature of currency exchange. Egypt has grappled with serious issues with its economy over the past ten years and has been struggling, as its currency has experienced at least four major devaluations within that timeframe.
The State Department of the United States advises reconsidering travel to Egypt at this time due to terrorism; but the places where you should specifically not visit in Egypt include:
- The Northern and Middle Sinai Peninsula
- The Western Desert
- Border areas of Egypt
You should not experience problems visiting the greater metropolitan areas of Cairo, Luxor, and Alexandria — as well as areas along the western shores of the Red Sea…
…but whatever you do, reconsider renting a vehicle in Egypt and doing the driving yourself…
All photographs ©2015 by Brian Cohen.
