Sinking dollar has students rethinking travel plans

 

By Courtney Smith

ROME, Dec. 7 — With the continuous fall of the dollar and subsequent rise of the euro, American John Cabot University students may want to think twice about ignoring that familiar clink of a coin hitting the ground.

A two-euro coin converts to roughly $3, enough to buy a Big Mac.

The dollar's decline in the past five years is a major issue for economists and consumers alike. The fear -- both in Europe and for many Americans -- is that the dollar will continue to fall.

The current euro-dollar exchange rate poses a problem for visiting students who wish to fully experience the culture Italy has to offer.  Many have had to replace their fantasy of everyday wining and dining in restaurants with bargain shopping at Standa followed by a cheap meal at home. 

Travel plans have also come to a halt for some visiting students, who, perhaps over-zealously-, mapped out their trips at home prior to the semester without considering the current exchange rate. 

“While I have been able to travel quite a bit, I haven’t been able to go to as many places as planned due to the high-prices," said JCU visiting student Katie Wertheim. "I also had to develop a strict budget for my expenses... But on the other hand, this is a once in a life time experience, so I want to get as much out of it as possible.”

If the dollar continues to fall, the question remains: will the unfavorable exchange rate sabotage students’ decisions to study abroad in Europe, or extend their stay? It may be too early to say.

“I would have thought that our numbers would have decreased with the dollar as low as it is, but we have a big group coming next semester, about 70 more students than we had this semester,” said Study Abroad Italy’s Rome Coordinator Virgina Carlsten.

Days from their departure back to the U.S., many visiting students have said that they will strongly recommend studying abroad in Italy to students at their home university, despite the high cost of living. However, it would be wise for students to plan a budget before their departure.

If all else fails, they can learn how to play the accordion. That way if money becomes scarce, they can always hop on the metro, hold out a hat, and hope for the best.