The autumn holidays are a typical time for a city break, and now that many have been vaccinated and the reopening is in full swing, there are probably more people who want to book and travel outside Norwegian borders.
Whether it is an extension of the summer holiday in southern regions or the traditional big city weekend that tempts the most, it can be smart to get acquainted with currency and price development for the current destinations.
Because you specialize in that you get the most for your money.
Weaker Norwegian krone
Consumer economist Magne Gundersen at Sparebank 1 says that Norwegian kroner has weakened some of most currencies in recent years, with the exception of the US dollar.
– This means that goods and services have generally become somewhat more expensive, so that Norwegians must be prepared to get a little less for money when they live in hotels, eat out and shop abroad this autumn, Gundersen says to Dinside.
However, the weakening of the krone is not dramatic, and Norwegians will not have problems with the level of expenditure when they are traveling, according to Gundersen.
The US dollar has, as I have said, gone a bit «against the current», although the decline in the dollar exchange rate is not very large.
– The United States is still does not a reasonable country for Norwegians can travel to, I can not compare with some years ago that the dollar exchange rate was six or lower, says the consumer economist.
Great currency tricks
It is only when you know what the price is in Norwegian kroner that you can check whether it is a good price or a good buy.
– Therefore, I always recommend finding a simple formula for how I can calculate what I can use in foreign currencies to pay in Norwegian kroner, says Gundersen and examples:
– Prices in Danish kroner you can multiply by 1.4 to get the price in Norwegian kroner. Then I have added a little in relation to today’s exchange rates to take into account currency surcharges and fluctuations in the exchange rate until my account or card is charged the amount in Norwegian kroner, he explains.
The consumer economist reminds you that the exchange rate you pay can eventually change while you are on a trip, and that the bank or card company calculates and currency surcharges of about one percent.
– When you do the mental calculation, you first round off the amount, then you take the price in Danish kroner and add four tenths. For example, if the price is 299 Danish kroner, it will cost you about 300 kroner plus 4 X 30 = 420 Norwegian kroner, forklift he.
This autumn’s cheapest and most expensive cities
According to Forex Banks metropolitan index, the autumn’s cheapest cities are New Delhi in India, Manila in the Philippines and St. Petersburg in Russia – if we compare currencies in these countries against Norwegian kroner.
The index ranks the countries according to the price level in relation to Oslo, which is set at the number one hundred. Numbers below one hundred mark cheaper cities, numbers above mark more expensive.
Furthermore, the index shows that Geneva in Switzerland, San Francisco and New York City in the USA are the most expensive cities right now. The price level in Reykjavik, Iceland, which has previously been the most expensive destination, has recently fallen slightly – much due to lower hotel prices.
-The metropolitan index confirms that Eastern Europe is still reasonable, even though there are other countries and cities with final prices, where Norwegians get much more for money with Norwegian currency, but then you have to travel both expensive and far, says Gundersen in Sparebank 1.
– It does not help if the beer is super cheap if you have to spend many thousands of extra kroner on the trip, he basically.
Steer away from the capitals
It is also different price level within a country or currency area that you can get for money outside the capitals.
– A travel trend that has become more apparent is so-called «other cities», where you travel to cities that are smaller than the largest city in the country, says head of nation Rune Viermyr in Forex Bank Norway.
– You get, for example, more for money in Manchester compared to London. In the US, Miami is cheaper for us than New York, he examples.
Expensive to be Norwegian in Denmark
Consumer economist Magne Gundersen points out the latest figures from Eurostat, which show that the highest price level for consumer goods and services among EU countries is in Denmark (41 percent above average), while the cheapest are in Romania (45 percent below certain).
Denmark also has the most expensive size and non-alcoholic drink, as well as the most expensive clothes and shoes. Bulgaria can also enjoy the best deals on food, drink and clothing.
– Hotels and restaurants are most expensive in Denmark and cheapest in Bulgaria, but Albania and Turkey are only slightly cheaper than Bulgaria, says Gundersen.
Look for this on shopping
Old Eastern bloc countries, such as Bulgaria, Romania, Albania and partly Poland, are all countries where the price level is markedly lower than in Norway. This applies in particular to locally produced goods and services (restaurant, local transport and hotel), according to the consumer economist.
– So, food, drink and locally produced goods and services are cheap in the cities with and generally low price, says Gundersen, but adds:
– International brands, on the other hand, cost almost the same no matter where you are. Thus, you do not get a cheap Gucci bag or iPad in Poland, Bulgaria or Turkey.