This summer, traveling in Europe could wind up costing you more than you’d bargained for. At press time, the dollar had plummeted to an all-time low of $1.52 against the euro, and $1.98 against the British pound. Fortunately, even in the most expensive countries, it’s possible to avoid feeling the pinch.

1. Choose a Cruise

“Cruises are still the best value for your money,” says Mary Jean Tully, CEO of the Toronto, Ontario–based Cruise Professionals. “To stay at a top hotel in many countries in Europe right now, you’re looking at—and this is no exaggeration—a minimum of about 550 euros, or $800, a night.” Cruises, however, are immune to seesawing exchange rates, as they’re priced in U.S. dollars and set a year or more in advance, which means there are no surprises. “You know up front what you’re spending, and you pay before you go,” Tully adds, noting that all-inclusive daily rates can range from $250 to $600 per person and often cover everything from onboard entertainment to meals and cocktails. Fortunately for travelers, the competition is strong among cruise lines in Europe—so despite inflation in recent years, cruise rates have remained stable.

Cruise vs. Land-Based Trip

By Sea Part of the luxury line’s Value Collection, Crystal Cruises’ 13-day Epicurean Odyssey sails from Athens to London, with stops in Sicily, Málaga, Seville, Lisbon, Oporto, and Bordeaux.

Cost $4,995 per person for a 202-square-foot Deluxe Stateroom E, which includes meals, onboard entertainment, and nonalcoholic beverages (888/722-0021; crystalcruises.com).

By Land Creating a comparable 13-day itinerary would mean booking seven hotels, each offering the same five-star luxury as Crystal Cruises.

Cost Luxury hotels in the region covered by Crystal’s Epicurean Odyssey start in the $400-a-night range and can easily cost twice that. You would also need to pay for food, air between cities, and ground transportation, thus far exceeding Crystal’s average price of $385 a day, all-inclusive.