Economic crisis: best time to travel

Pack your bags, Americans, it's time to head to Europe.

Major airlines--Continental, American, Lufthansa and Alitalia, to name a few--have slashed their prices on travel from Newark airport in New Jersey to Europe for travel in late March to early April. Normally, travel in April (especially during school break) catapults as the weather gets warmer, but hey, airlines need to make money, too. After all, the fear of bankruptcy looms.

There's no better time to travel than in a recession (given that you have some money to spend, of course) because guess what? America's not the only country experiencing economic hardships! (Ahem, Iceland.) For example, you can fly to London from Newark for under $200 each way, and what a better time to fly than when the British pound is near its 23-year-low?

Now, you have the opportunity to trek to Europe and spend the same amount as you would on a cross-country trip in the United States (flight, meals and accommodations included).

Some sample one-way fares from Newark airport, taken from Travelzoo.com, are below. (Expect to pay around $350-$480 for a round-trip after taxes and fees.)

- Dublin ... $137
- London ... $149
- Paris ... $149
- Rome ... $149
- Barcelona ... $149
- Amsterdam ... $149
- Lisbon ... $149
- Stockholm ... $149