A holiday abroad is on many Swedes’ summer schedule, but traveling is far from free. Since the Swedish krona has fallen in value, a visit to a country whose currency is the euro or dollar can end up with an extra empty wallet.
However, there is a light at the end of the tunnel. That’s what the independent economist thinks Claes Hembergwho in a conversation with Nyhetsmorgon reveals when it may become cheaper to travel again.
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The Swedish krona has fallen in value
News24 have previously interviewed Americo Fernandez, who is a private economist at the large bank SEB. Then it emerged, among other things, that factors such as Russia’s invasion of Ukraine, the corona pandemic and inflation in the USA have affected the value of the Swedish krona.
– When major upheavals happen in the world such as pandemics and wars, smaller currencies are punished. Many are moving towards safe harbors in times of crisis, Fernández told Nyheter24 at the time.
READ MORE: Cheaper dollars and euros this summer – your holiday will be affected
The Swedish krona has fallen, which makes it more expensive to go abroad. Photo: Marianne Løvland / TTE economist: “Much more expensive than expected”
During the summer of 2024, the krona has thus fallen even more in value, which has made it difficult for some Swedes on holiday. This is what Claes Hemberg, independent economist, tells us News morning.
– There is a risk that you have bought a plane ticket somewhere, then you arrive and discover that it was much more expensive than you expected. Then maybe you can eat more cheap food, because it is food that is the big expense when you are out and about, he says in the program.
So what does that mean? Should you wait to book trips abroad?
No, according to Claes Hemberg, the krone’s value will improve by next summer. This means that it can once again become cheaper to go abroad.
– During the autumn and next spring, we will have a significantly stronger economy, most forecasts point to that. Then the krona will also be strengthened. Now the euro is at eleven. It has been at nine and eight kroner before, but it will probably take several years to get there again. But it will be much better next summer and at Easter it will also be better, but this autumn you are too early, he says in News morning.
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