Tourists pose with a street artist outside the Royal Palace in Madrid, Spain. Unemployment stands at a staggering 20 percent in Spain, and no one is predicting the economic boom that Madrid enjoyed just two years ago will return anytime soon. Still, tourists visiting one of Europe’s most breathtaking cities this summer will have to do some homework to find bargains. (AP Photo/Arturo Rodriguez)By THOMAS WAGNER
Associated Press
LONDON – Airfares have repeatedly risen this year, the dollar has struggled against the euro, and Europe’s economic crisis is still rattling financial markets. Americans planning their summer vacations could well ask what’s the point of going to Europe this year?
But savvy tourists considering the continent might also be wondering if there are bargains to be had, especially in the four European countries worst hit by the economic crisis – Portugal, Ireland, Greece and Spain. Known in some circles by the derogatory acronym PIGS, these struggling nations rely heavily on tourism revenue, and they are working hard to boost this sector of their economies.
On the plus side, travel agents are seeing potential bargains in these countries in everything from airfares, hotels and restaurants, to in-country transportation and visits to key tourist sites.