As they say, the shoe is now on the other foot.

After years of enjoying the benefits of a strong US dollar, American travelers are now feeling the pinch as the greenback tumbles back down to earth.

In the last 24 months, the US dollar has slid 10% against both the Canadian dollar and the British pound, and a staggering 21% against the euro. Everything else being equal, a lower currency makes vacationing in foreign countries more expensive, and the current deflated state of the US dollar is undoubtedly changing Americans’ traveling preferences as we head into the summer holiday season.

According to Rodrique Ngowi of the Chicago Sun-Times, “(American) vacationers are paring the number of days they plan to spend at exotic locations abroad, buying all-inclusive foreign travel packages to cushion themselves against currency exchange shocks or just planning trips closer to home.”

Others have been forced to cutback even more drastically.

“I have no plans for the summer I’m broke!” bemoaned Aaron Dennis, a Philadelphia-native who’s currently studying at Lund University in southern Sweden. Dennis has had the misfortune of having his student and travel bills denominated in the Swedish krona, which has soared 11% against the US dollar in the past year alone.

Although it’s a bit of a hit-and-miss affair to make accurate predictions on currency movements, all indications are that the weak dollar trend will continue. With the American economy teetering on recession due to the freefalling housing market and escalating food and energy prices, a stronger US currency appears far in the offing.

This predicament has compelled Americans who are domiciled or traveling offshore to look for silver-dollar linings wherever they can find them.

“I suppose this means my liver will be happier,” quipped Dennis.