Come to Europe... the time is right!

Now is the time to turn your dreams into a reality! Start planning your European vacation today! Travel and expenses in Europe are becoming more affordable each day due to the Greek economic crisis which is hammering the European stock markets and the shared Euro currency.

The currency is already down between 12-20% from last summer and some economists are projecting a 1:1 exchange rate sometime in 2011 (today's rate is 1.21 US dollars per Euro) . What this means for us Americans is that Europe is on discount and the exchange rate is at its best level in nearly 5 years. And the Euro may slide even further given the depth of the economic problems facing the EU member countries.

In addition, crude oil futures are slumping (although still 30% higher than a year ago) which should lead to a little easing back of prices in the airline industry. However, there are several factors affecting Trans-Atlantic travel right now. MarketWatch- a financial news agency- has reported that "Airlines are greeting an upswing in air travel with something bound to sour any summer vacation: Fewer seats and higher ticket prices. Average airfare for international flights this summer is already up 23% from a year ago."

Air carriers drastically reduced the number of flights due to the recession and are hesitant to add capacity even as demand increases. Worried about the uncertainty in the price of fuel, the Euro/dollar exchange rate, and forecasts of economic growth, the airline industry is keeping capacity tight which causes increased competition for the limited number of seats.

In addition, some air carriers are trying to recoup the major costs incurred last month when thousands of flights were grounded due to mechanical hazards posed by ash clouds from a volcanic eruption in Iceland. These cost increases should subside as time wears on and operations return to business as usual.

Experts and travel agents recommend buying tickets several months in advance to take advantage of early discounts which translates into hundreds of dollars on a round trip Trans-Atlantic flight. I always use Kayak.com to search for airfare.

Through it all you can be sure that with a favorable exchange rate there will be a flood of American tourists and college backpackers rushing to visit Europe in the foreseeable future. Come on over, you've got a friend in Paris!