In this piece, we will take a look at the 25 best countries for Americans to visit. For more countries, head on over to 5 Best Countries for Americans to Visit.
2022 has marked a significant shift in global macroeconomics. The Russian invasion of Ukraine coupled with rising inflation in the expansionary aftermath of the coronavirus pandemic has had a significant impact on the U.S. dollar. This is because the Federal Reserve’s rapid interest rate hikes that have aimed to combat inflation have also strengthened the U.S. dollar. At the same time, demand for dollars peaked in 2022 as global recessionary fears grew due to the economic shock from the Ukraine war. The dollar’s strength lead to the greenback making significant gains last year against major currencies such as the British Pound, the Japanese Yen, the Australian Dollar, and the Euro.
For instance, the Pound closed in 2021 at 1.35 dollars to a pound and within the year slipped to 1.21 for a ten percent drop. The Australian dollar closed in 2021 at 0.73 USD and dropped to 0.68 USD at the end of the year, marking a 7% drop. Finally, the Euro also dropped by 7% during the year, but all three currencies dipped to their record lows in the middle of the fourth quarter of 2022 as the Fed delivered consecutive (and massive) 75 basis point (0.75%) interest rate hikes.
A stronger U.S. dollar comes with a mixed bag of results for Americans. For exporters, it’s bad news as they are able to earn fewer dollars for the same units of the foreign country’s currency, and for importers, it’s a blessing since they can buy more goods with the same amount of dollars. For the everyday consumer, it makes buying imports cheaper, and at the same time, it’s also good news for tourists as they are able to spend freely in foreign countries. As an illustration of the benefits offered to tourists, the dollar’s strength last year led to a flood of American tourists to Europe. According to the president of an online travel agency, Americans flocked to France, London, Ireland, and Italy in droves to make use of the stronger dollar. At the same time, many also started booking their travel plans in advance as well, to lock in the lower rates.
At the same time, the stronger dollar not only led to a growth in tourism to Europe but also saw Americans snap up prime London real estate. The British Pound crashed in October last year after former British premier Elizabeth Truss’s well intentioned but ill timed pivot to growth spooked bond investors who sold British debt and caused the pound to plummet to its record low and a hair’s breadth away from the ignominious parity with the dollar. However, even before the crash, America’s wealthiest were making full use of Britain’s woes. According to data compiled by a real estate broker, American purchases of London real estate shot up to represent 14.5% of the total purchases during the first half of 2022. This was more than double the 6% that it had stood at during the final half of 2021. However, the rich patiently waited for the worst, as soon after the pound’s crash, the big guns came out and properties as expensive as £50 million changed hands. To add to this, while overall American transactions counted for 14.5% of the market when we narrow down our focus to the top end properties, these transactions represented more than 30% of the total share.
Finally, in terms of monetary value, the global travel and tourism market created 25% of global jobs directly and indirectly, as well as accounting for 10% of the global gross domestic product (GDP), before the coronavirus pandemic according to research from the World Travel and Tourism Council (WTTC). However, the pandemic saw the industry suffer from a $4.9 trillion loss, but its share of the global GDP increased to 20%.
As to the situation on the ground, the tourism industry is continuing to recover from the pandemic but nevertheless having to face rising inflationary pressures. On this front, InterContinental Hotels Group PLC (NYSE:IHG)’s chief executive officer Mr. Keith Barr shared during the firm’s latest earnings call:
The 2022 was another year of strong trading and our teams continue to make significant enhancements across our enterprise platform performance and future growth. We delivered on our strategy, working closely with our hotel owners to grow their business and capture demand. I was particularly pleased that the strong momentum continued in the second half of the year, leading to RevPAR and profitability exceeding 2019 levels. Looking at our performance around the world. The Americas region surpassed 2019 levels in the second quarter with RevPAR up 9% by the fourth quarter.
Our EMEAA region also saw excellent sequential improvement following the listing of travel restrictions and caught up with the Americas to also be 9% ahead in Q4. Trading in Greater China was more difficult due to the COVID restrictions still in place throughout most of 2022. Following the recent listing of these, the inherent desire to travel, both for business and leisure has been clear to see. During the Chinese New Year break in January, 300 million trips were made in China, representing close to 90% of 2019 levels. In terms of system size, our adjusted net growth was 4.3%, with gross growth of 5.6%. We opened 269 hotels and signed 467 leading to our pipeline increasing 4% year-on-year and being equivalent to 31% of today’s system size.
With these details in mind, let’s take a look at some of the best countries for Americans to visit.
Photo by Liana Mikah on Unsplash
Our Methodology
To compile our list, we first used surveys from Pew Research and World Population Review to sift out countries with the most favorable opinion of America. Then, their currency’s gains or losses respective to the U.S. dollar over the past twelve months were calculated and they have been ranked accordingly. The top countries for Americans to visit are listed below.
25 Best Countries for Americans to Visit
25. Portuguese Republic
12 Month USD Gains: 0%
The Portuguese Republic is a prosperous Southwestern European country with a $432 billion GDP. It is one of the world’s first colonial powers and has distinct architecture and art that has matured over centuries of development.
24. Republic of Ireland
12 Month USD Gains: 0%
The Republic of Ireland is a European island nation that shares its border with the United Kingdom. It is one of the richest countries in the world through its GDP per capita of $124,596.
23. Republic of Cuba
12 Month USD Gains: 0%
Traveling to Cuba from America is tricky since explicit tourist travel is banned by the U.S. government. However, there are eleven categories for which a travel card is issued, which range from taking part in nonprofit and charitable activities and aiding humanitarian projects.
22. Belize
12 Month USD Gains: 0%
Belize is a Central American country with one of the smallest economies in the world at $4.2 billion. It is one of the most biologically diverse regions on Earth, with a wide variety of plant and animal species.
21. Hellenic Republic
12 Month USD Gains: 0%
The Hellenic Republic, commonly known as Greece, is a European country. Greece has one of the largest coastlines in the world, as well as thousands of islands and historic sites tracing back to the beginning of modern day civilization.
20. Italian Republic
12 Month USD Gains: 0%
The Italian Republic, or Italy, is a prosperous European country and a major power in international politics. It has some of the most remarkable museums and historic sites that date back to the Roman Empire and cover the Renaissance art revolution.
19. French Republic
12 Month USD Gains: 0%
The French Republic, commonly known as France, is another art and culinary hub in Europe. Its capital city Paris attracts thousands of tourists each year courtesy of a strong cultural scene.
18. Kingdom of Spain
12 Month USD Gains: 0%
Spain is a prosperous European country with a $2.2 trillion GDP – one of the largest in the world. It is often called a cultural superpower, with 47 United Nations designated World Heritage Sites.
17. Kingdom of Belgium
12 Month USD Gains: 0%
The Kingdom of Belgium is one of the most peaceful and iconic countries in Europe. The country has undergone numerous art revolutions in its history, giving tourists plenty of options when it comes to museums.
16. The Netherlands
12 Month USD Gains: 0%
The Netherlands is another prosperous European country and one which provides visitors with unique landscapes as it is built almost entirely on the sea.
15. Federal Republic of Germany
12 Month USD Gains: 0%
The Federal Republic of Germany, or Germany, is Europe’s largest economy and it has some of the best architecture in the world when it comes to colorful castles. Not to mention, German beer is one of the most famous ones on the planet.
14. Republic of Poland
12 Month USD Gains: 0.23%
The Republic of Poland is a Central European country with a $1.6 trillion GDP. Poland is one of the most historic countries in Europe, with a thousand year history, which also lends it 17 U.N. World Heritage Sites.
13. Kingdom of Thailand
12 Month USD Gains: 1.88%
The Kingdom of Thailand is one of the most iconic tourist destinations in the world, and one that is also known for its warm hospitality, tolerance, and great beaches.
12. United Kingdom of Great Britain and Northern Ireland
12 Month USD Gains: 3.90%
The United Kingdom, or the U.K., is one of the friendliest countries when it comes to Americans. Its capital London is a global city and the country has a historic past courtesy of its Royal Family.
11. Malaysia
12 Month USD Gains: 4.27%
Malaysia is another tourist hub in Asia which is one of the most biodiverse countries in the world and famous for its caves.
10. Republic of the Philippines
12 Month USD Gains: 5.70%
The Republic of the Philippines is another friendly country and one that is made up of thousands of different islands.
9. Japan
12 Month USD Gains: 6.45%
Japan is one of the world’s largest economies. It has 21 World Heritage Sites, and like the Philippines, it’s made up of thousands of islands.
8. Federative Republic of Brazil
12 Month USD Gains: 6.53%
Brazil is the biggest country in South America and is another country that is famous for its beaches.
7. Canada
12 Month USD Gains: 7.14%
As an American, you don’t need a plane ticket to go to Canada – just cross the border instead. The country has some of the best glaciers and other sightseeing sites in the world.
6. Republic of Korea
12 Month USD Gains: 7.52%
South Korea has got it all, from the urban metropolis of Seoul to islands, beaches, and historical sites.
Click to continue reading and see 5 Best Countries for Americans to Visit.
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Disclosure: None. 25 Best Countries for Americans to Visit is originally published on Insider Monkey.