I normally post my annual travel-oriented currency outlook at the very beginning of the year but due to other commitments, it took me only now to publish it. As we start a new year, we once again look for travel ideas and aim to scale new depths where travel is concerned. There are several factors that may affect your decision on where to go but one that is widely considered is to go somewhere that is cheaper than it used to be only a short time back. This tactic worked very well for Japan when the Yen depreciated by as much as 60% against the US Dollar in 2 years. The same happened in the middle of 2016 when the UK voted for Brexit and the Pound Sterling plunged by 15%, triggering an influx of tourists visiting the UK for shopping and sightseeing.
So what’s in store for 2017? I have by no means a crystal ball. Looking at my list from 2016, I got about 3 out of 5 correctly including the outlook for Chinese Yuan which dropped quite substantially last year. I also identified 3 places to avoid last year based on the expectation that those countries’ currencies will strengthen and got 2/3 correct….