Here are five countries where the loonie has gained in value and travel has become cheaper
By: John Shmuel on February 27, 2017Canada’s dollar has lost 25% of its value against the U.S. dollar in the past few years, making travel south of the border more expensive.
But don’t cancel your travel plans just yet. If you’re willing to look beyond the United States, you will find plenty of countries where the loonie has actually strengthened against the local currency in recent years.
Now, travel to all of these countries isn’t necessarily cheap — and you’ll need to factor in the cost of travel insurance — but as far as getting bang for your buck goes, it’s a great time to explore these destinations. Canada’s dollar has been on a tear against their currencies, meaning your money goes further.
From white sand beaches in Mexico to medieval castles in Hungary, check out our list of the top five countries where the loonie’s performance means you get a travel discount in 2017.
Brazil
1 Canadian dollar = 2.3762 Brazilian Reals
Known for its breathtaking beaches and rich rainforests, Brazil is an outdoor explorer’s paradise. Like Canada, Brazil has been hit hard by a crash in commodity prices, which has hurt its currency. But unlike Canada, political instability has meant that foreign investors have been hesitant to invest in the country.
While 2015 and 2016 were the years when the Canadian dollar was strongest against the Brazilian Real, the loonie still goes a long way in the South American nation. Now is the perfect time to check hiking Corcovado mountain off your bucket list.
Hungary
1 Canadian dollar = 223.1278 Hungarian Forints
Between the historic Buda Castle and the countless Turkish baths, visiting Hungary’s capital city of Budapest feels like stepping back in time — and its prices reflect that, too. When the oil crash struck Canada in 2014, the Canadian dollar lost a lot of ground against the Hungarian Forint. Luckily, a lot of that has been made up in 2017, and it’s now the cheapest time to travel to the country in more than two years.
As one of the more affordable travel destinations in Europe, you can see much of the country without breaking the bank. Plus, Hungary has some of the best goulash in the world — if you needed more convincing.
Mexico
1 Canadian dollar = 15.2092 Mexican Pesos
The crystal waters of Playa Norte in Isla Mujeres and the colourful streets of Guanajuato are a few reasons why Mexico remains a popular vacation spot.
While it’s always been relatively affordable for Canadians to visit Mexico, it has never been as cheap as it is now; the election of U.S. President Donald Trump has triggered a collapse in the value of the Mexican peso. While Trump’s heated rhetoric has been harmful to Mexico’s economy, one way Canadians can help is by travelling down and spending their cash — and getting a big discount while doing it.
Poland
1 Canadian dollar = 3.1198 Polish Zloty
Poland may be an unlikely pick for a holiday, but the slavic nation has much to offer tourists. In the capital of Warsaw, remarkable sites like Wilanów Palace and Saxon Garden are rich in history and impeccably maintained.
Poland’s economy has been doing relatively well compared to its Eastern European neighbours in recent years, but because the country hasn’t adopted the euro yet, its currency remains weak against the Canadian dollar. The loonie has been gaining steadily against the Polish Zloty, and is now at its strongest level since 2013 — meaning you can afford more perogies.
South Africa
1 Canadian dollar = 9.8499 South African Rand
There are few places in the world where you can camp among lions, leopards, rhinos, elephants and buffalos, like you can in South Africa’s Kruger National Park.
A steady rise in the value of the Canadian dollar against the South African Rand means the country has been a great travel destination for Canadians over the past decade. South Africa has suffered a recession from the recent collapse in commodity prices, and as a result, is now a bargain for Canucks. The rand has recently been gaining ground against the loonie, but continues to be much weaker, so head to the country on the cheap while you still can.