Last updated: 01:04 PM ET, Wed April 08 2015

Report: U.S. Travelers to Save Big on Trips to Europe this Summer

Destination & Tourism | Patrick Clarke | April 08, 2015

Report: U.S. Travelers to Save Big on Trips to Europe this Summer

PHOTO: Sunset in Istanbul, one of the biggest European bargains of the summer for U.S. travelers, according to TripAdvisor. (photo via ThinkStock)

Favorable exchange rates appear poised to result in big-time savings for U.S. travelers eyeing trips to Europe this summer.

According to TripAdvisor's latest TripIndex, on average, a one-week trip to a top European destination has decreased 11 percent year-over-year for the period between June 1 and August 31, 2015.

For the most part, U.S. travelers headed to Europe this summer can expect to save on both lodging and airfare.

"According to a recent TripAdvisor survey, nearly one-third of U.S. respondents plan to travel abroad this summer to take advantage of the strong U.S. dollar," said TripAdvisor director of communications Brooke Ferencsik in a statement. "For those looking to save, Europe is a great option. Compared to last summer, Americans can expect to pay about 20 percent less on hotels in Europe when booking on TripAdvisor, and eight percent less on roundtrip airfare."

According to the TripIndex, the average nightly rate for a hotel in Europe (booked on TripAdvisor) this summer is $133, compared to $164 last year. And average roundtrip flights from the U.S. to the Europe are projected to cost $1,448 between June 2015 and August 2015, compared to $1,579 last summer.

The savings vary based on destination of course. For instance, travelers headed to London can anticipate total savings of roughly five percent year-over-year, compared to 25 percent for travelers visiting Istanbul this summer. In addition to Istanbul, Stockholm, Copenhagen and Oslo saw the biggest year-over-year decrease at 23, 21 and 20 percent respectively. 

Of the 25 European destinations featured on TripAdvisor's TripIndex, only Moscow is expected to cost travelers more in 2015. Despite significantly cheaper hotel prices, airfare to Moscow has skyrocketed. 

However, with a one-week trip cost of $2,275.10, the Russian capital is still cheaper than tourist hot spots like Barcelona, Rome and Paris, and considerably more affordable than London ($3,183.05).

Nonetheless, the overall strength of the U.S. dollar will provide U.S. travelers with added incentive to see Europe in 2015.

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