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Federal Reserve Bank of Minneapolis - The Region - European Vacation (December 2003) I'm at: Home > Publications > The Region > December 2003 > Article Publications Expand All Collapse All The Region Index by Issue Interviews President's Columns fedgazette Index by Issue Topics Index Annual Report Quarterly Review Community Dividend Banking and Policy Studies Articles Toolbox ( advanced search ) December 2003 European Vacation There's a simple reason Americans work longer hours than Europeans, says economist Ed Prescott. And it isn't what you think Douglas Clement Editor It's no secret that Europeans work less than Americans do. Every Labor Day the media tell us that Europeans have just enjoyed weeks of summer vacation while Americans have been toiling away. These stories often depict Americans as hard-working drones who revere material possessions above all else. Europeans meanwhile bask in the good life of long lunches and months at the beach. There is some truth to the portrayal, at least in terms of hours worked. The International Labor Organization reports that the average American worked 1,815 hours in 2002, well above the comparable figures for France (1,545) and Germany (1,444), for example. (The average South Korean, on the other hand, worked over 2,400 hours.) But if it's widely acknowledged that Americans work more hours than Europeans, it remains a puzzle quite why there's such a large difference. With similar economies and social structures—at least relative to the rest of the world—it would seem that labor patterns should also be alike. Social scientists have been hard-pressed to explain the disparity. Most accounts focus on cultural explanations. The most popular is the notion that Europeans have a fuller appreciation of la dolce vita —the sweet life—the Italian version of the idea that life is to be enjoyed, not endured. Work is a means to an end, not an end in itself. The idea of cultural and religious influences on economic activity isn't new. German sociologist Max Weber wrote The Protestant Ethic and the Spirit of Capitalism nearly a century ago, attributing the rise of capitalist economies to the “Protestant work ethic.” It was an immensely persuasive theory in its time, and derivative explanations have held great sway ever since. “Why do Europeans and Americans differ so much in their attitude toward work and leisure? I can think of two reasons,” opines a recent Time magazine essay. “Broadly speaking, Americans value stuff—SUVs, 7,000-sq.-ft. houses—more than they value time, while for Europeans it's the opposite. Second, ... in the puritanical version of Christianity that has always appealed to Americans, religion comes packaged with the stern message that hard work is good for the soul. Modern Europe has avoided so melancholy a lesson.” “It all comes down to what people feel is important and how they feel about their lives,” argues a September 2003 U.S. News & World Report editorial. “We value more money and more stuff; they value more leisure time. ... We are proud of being busy—it is a virtue; being idle is perceived as a vice.” Economic explanations Economists have always been suspect of such cultural explanations. Standard economic theory assumes that people's preferences are, on average, homogeneous, and that choices depend largely on economic factors. Still, while economists agree that dollars and cents lie behind the work pattern differential, there is little harmony among them as to the right economic explanation. Some economists say work regulations keep Europeans from working longer hours and point favorably to recent European reforms on vacation time. Others argue that greater inequality in the United States motivates workers to try harder to get ahead. Most of these explanations come from the perspective of labor economics and its core belief that social structures and institutions such as unions are the major determinants of labor patterns. But in a recent series of papers and lectures, Edward C. Prescott, senior monetary adviser to the Minneapolis Fed and economist at Arizona State University, looks at the labor supply question through the prism of the growth model—a different perspective altogether—and provides a convincing and remarkably straightforward explanation for the dramatic differences in hours worked. It is an explanation that has far-reaching implications for policymakers—and for anyone else who's ever received a paycheck. According to Prescott, the reason for these large differences in labor supply is not culture. “French, Japanese, and U.S. workers all have similar preferences,” he writes. “The French are not better at enjoying leisure. The Japanese are not compulsive savers.” The reason for the wide range in working hours is, in a word, taxes. Europeans supply less labor because there's a much larger wedge in most European countries between what a worker is paid and what that worker actually gets to keep after taxes are taken out. This tax wedge, argues Prescott, distorts the trade-off people make between consumption and leisure by making consumption more expensive. And since people work, ultimately, to earn money to pay for consumption goods, they'll supply less labor if consumption goods become relatively more expensive. The cheaper alternative: leisure. Hello, Riviera. If the concept seems straightforward, its evolution was anything but. Like most ideas that seem obvious in retrospect, the awareness that taxes distort labor markets dramatically and account for major international differences in work patterns came about indirectly and as a revelation to those who happened upon it. The discovery Prescott's discovery about the role of taxes in labor supply variation began, simply enough, in his classroom at the University of Minnesota, where he taught from 1980 to 2003. “I was making up exercises for my students,” he recalled in a recent interview. “I said, 'use this nice little growth model.'” The “nice little model” he presented to his students is the workhorse of modern macroeconomics; it says, mathematically, that a nation's total output (or gross domestic product, GDP) is dependent on three sources: labor, capital and the efficiency (or productivity) with which it merges them to create economic value. The other key part of this standard theory is, in the jargon of economics, a utility function: a formula representing the notion that households try to maximize their happiness by finding the best possible combination of leisure and consumption, given their resources. Prescott wanted his students to become familiar with this model by looking at how it performed in different nations over time, and how key variables—capital endowments, productivity, labor supply—could account for differences among nations in per capita GDP. “I wanted to try to get across the basic ideas and the importance of productivity,” said Prescott. “And then I thought, let's put a few taxes in.” The intuition was far more significant than Prescott suspected, but that became clear only after looking at the relative contributions of capital, productivity and labor. The data, compiled by the United Nations and the Organization for Economic Cooperation and Development, showed that in the mid-1990s among developed countries—the United States, much of Europe and Japan—relative levels of capital differ little and explain just a small portion of the variation in per capita GDP (see adjacent table). “The capital factor is not an important factor in accounting for differences in incomes across the OECD countries,” writes Prescott in his 2002 Richard T. Ely Lecture to the American Economic Association. “[It] contributes at most 8 percent to the differences in income between any of these countries.” Capital, Labor, Productivity and GDP 1993-96 Country Capital/ Output Ratio (1990) Hours worked per Week per Person 15-64 Productivity: GDP per hour Worked; US=100 GDP per Person 15-64; US=100 Germany 2.7 19.3 99 74 France 2.2 17.5 110 74 Italy 2.6 16.5 90 57 Canada na 22.9 89 79 United Kingdom 2.6 22.8 76 67 Japan 2.5 27.0 74 78 United States 2.3 25.9 100 100 Source: Federal Reserve Bank of Minneapolis Research Department Staff Report 321 and Working Paper 618 . Productivity, on the other hand, is very important, at least for some national differences. Japan and the United States, for example, have similar levels of labor and capital, but per capita GDP in Japan is far below that in the United States because its productivity is less than three-quarters that of the United States. But what of European countries like France, Italy and Germany? Why are their levels of per capita GDP so much lower? All these nations have capital endowments comparable to the United States. Their productivity levels also are similar to U.S. rates, or in the case of France, even higher. The data suggest that the differences in wealth are due almost exclusively to the markedly lower number of hours worked in these European countries. Germany, for instance, had a slightly higher capital endowment than the United States and an equal level of productivity, but just 74 percent of the U.S. per capita GDP. The evident reason: Its workers supplied just over 19 hours of labor per week compared to nearly 26 hours a week per American worker. While many believe that cultural differences lead to fewer hours worked in Europe than in the United States, Prescott doubts it. After all, data from the early 1970s show that the French actually worked more hours per week than did Americans at that time. Has French culture changed radically over the last two decades? Probably not: They still like good wine, aged cheese and, inexplicably, Jerry Lewis. Prescott's hunch was that differences in marginal tax rates might explain the differences in labor supplied and thus account for differences in per capita GDP. Enter the tax wedge “What is important is the price of consumption relative to leisure,” Prescott writes in the lecture he gave in April 2003 as he accepted Northwestern University's prestigious Erwin Plein Nemmers Prize in Economics. “And it is determined by the consumption tax rate and the labor income tax rate.” (See the lecture, “ Why Do Americans Work So Much More Than Europeans? ”) By introducing these taxes into the growth model, and making standard microeconomic assumptions, Prescott derived what he calls “the key equilibrium relation.” 1 It's a mathematical formula for labor supply that says workers will supply labor dependent on, among other things, their preference for consumption now over consumption later (spend or save?), their preference for leisure relative to consumption (play or work?) and the effective tax rate. Holding the first two variables fixed and looking empirically at different national tax rates enables Prescott to see if tax differences can account, fully or partially, for variations in labor hours supplied. Estimating the effective tax rates in these countries was, in itself, a major accounting exercise. Consumption taxes include value-added taxes, sales taxes, excise taxes and property taxes. Labor is subject to both income taxes and Social Security taxes. For each nation under consideration, Prescott and his students crunched the numbers, determined a tax rate, plugged it into the formula along with fixed estimates of the other variables, and derived predictions of labor hours supplied per week per worker. How good were the predictions? Dead-on for Germany and the United Kingdom, a bit low for Canada and the United States, and a bit high for the other countries (see table below). Given measurement inaccuracies, the rough nature of the tax-rate estimates and the difficulty of international comparisons, writes Prescott, the model's predictions were “surprisingly close to the actual.” Tax Rates and Labor Supply 1993-96 Country Tax Rate (percent) Actual Hours Worked per Week per Person 15-64 Predicted Hours Worked per Week per Person 15-64 Difference (Predicted Minus Actual) Germany 59 19.3 19.5 0.2 France 59 17.5 19.5 2.0 Italy 64 16.5 18.8 2.3 Canada 52 22.9 21.3 -1.6 United Kingdom 44 22.8 22.8 0.0 Japan 37 27.0 29.0 2.0 United States 40 25.9 24.6 -1.3 Source: “ Why Do Americans Work So Much More Than Europeans ?” Federal Reserve Bank of Minneapolis Research Department Staff Report 321. Here, notes Prescott, “the important observation is that the low labor supplies in Germany, France and Italy are due to high tax rates. In these countries if someone works more and produces 100 additional euros of output, that individual gets to consume only 40 euros of additional consumption and pays directly or indirectly 60 euros in taxes.” Put in such stark terms, it seems obvious that many Europeans might opt to work less, while Americans and Japanese, taxed more lightly, would be keen to put in extra hours. Confirmation and implications Prescott found further confirmation for his hypothesis when he looked at tax rates and labor supply in the early 1970s (see table below). While his model's predictions of labor hours supplied diverge from the actual in several cases—Italy and Japan, in particular—Prescott observes that “when European and U.S. tax rates were comparable, European and U.S. labor supplies were roughly equal.” Tax Rates and Labor Supply 1970-74 Country Tax Rate (percent) Actual Hours Worked per Week per Person 15-64 Predicted Hours Worked per Week per Person 15-64 Difference (Predicted Minus Actual) Germany 52 24.6 24.6 0.0 France 49 24.4 25.4 1.0 Italy 41 19.2 28.3 9.1 Canada 44 22.2 25.6 3.4 United Kingdom 45 25.9 24.0 -1.9 Japan 25 29.8 35.8 6.0 United States 40 23.5 26.4 2.9 Source: “ Why Do Americans Work So Much More Than Europeans ?” Federal Reserve Bank of Minneapolis Research Department Staff Report 321. As for the outliers, Italy and Japan, Prescott suggests that other factors may be significant. In Italy, cartels may have played a role in depressing labor supply below its predicted value. In Japan, significant measurement errors in actual hours worked could account for the overly high prediction by the model. And what seems another anomaly is very likely an indirect confirmation of the importance of marginal tax rates on labor supply, according to Prescott. In the United States, actual hours worked per person increased by 10 percent from the 1970s to the 1990s, though the marginal tax rate remained at 40 percent. Prescott argues that U.S. tax reforms in the 1980s changed the effective marginal tax faced by married couples—dropping the rate in half for the second earner's income—even though it remained nominally at 40 percent. “In the 1993-96 [period],” he writes, “the marginal income tax on the labor income associated with switching between a one-earner and a two-earner household is only 20 percent, not 40 percent.” The issue warrants more attention, he says, and indeed, his colleagues Larry Jones, Rodolfo Manuelli and Ellen McGrattan have recently released a paper on this exact question. (See “ Wives at Work .”) On the whole, Prescott states, the results show that “people are remarkably similar across countries” and not only for these relatively prosperous and homogeneous nations, but for Chile, Mexico and Argentina, as well, where other economists have found similar relationships. “Apparently, idiosyncratic preference differences average out and result in the [representative] household having almost identical preferences across countries.” The policy implications are enormous for high-tax countries. If France were to lower its effective tax rate from 60 percent to 40 percent, estimates Prescott, its people would work more (taking 6.6 percent less leisure) and—remember their high productivity?—would generate considerably more output. Tax revenues wouldn't diminish, because the 40 percent rate would be levied on a higher base. And overall French “welfare gains,” as economists put it, would increase nearly 20 percent. In the United States, reducing marginal tax rates would have a more modest impact, according to the model: A 10 percent rate reduction would produce a 7 percent welfare gain. But even in the United States, Prescott's findings have huge implications for the viability of the Social Security system. (See “ Shrinking a deadweight loss .”) Foreign affairs In recent months, Prescott has traveled widely, presenting his findings not only to American audiences but to economists and policymakers in London, Berlin, Toulouse, Tokyo and elsewhere overseas. And in fact, says Prescott, Europeans tend to be more receptive than Americans. “The economists there understand that there is a problem,” he said after returning from France in mid-September. “I got some excellent suggestions when I presented the paper, the best so far.” But at all venues, he observes, the common denominator is surprise. Prescott is the first to admit that he, too, thought the results were startling, unexpected. “I find it remarkable that virtually all of the large difference in labor supply between France and the United States is due to differences in tax systems,” he writes in his Ely lecture. “I expected institutional constraints on the operation of labor markets and the nature of the unemployment benefit system to be more important.” Moreover, he concedes that cultural explanations might carry the day in a few settings. “Scandinavians seem to be a little bit different,” he said recently, referring to research by Richard Rogerson, an economist at Arizona State University. “My theory is when one of those Swedes looks at you when you're not working, it's pretty intimidating.” More seriously, he allows that in small, homogeneous cultures, social pressures can be quite strong. But even in large, heterogeneous nations, tax wedges don't always tell the whole story, according to Prescott. “Taxes are not the only reason that the labor factors differ,” says Prescott's Ely lecture. Unemployment benefits and housing subsidies—not taxes—distorted labor mobility in the United Kingdom between the first and second World Wars, contributing significantly to that country's interwar depression. New Deal policies supporting cartels in America's heavy industries distorted wages and employment in the last half of the 1930s, contributing to the depth and duration of the Great Depression in the United States. Similarly, cartels in 1970s Italy may have suppressed employment there. Prescott relies on work by University of California, Los Angeles economists Harold Cole and Lee Ohanian in making these conjectures. Still, while taxes aren't the all-powerful explanatory factor for all nations and eras, Prescott contends that in major developed countries in the time period under consideration, the labor supply impact of tax wedges is a powerful and undeniable fact. Other academics As befits the work of any prominent scholar, Prescott's theory has attracted close academic scrutiny—beyond the initial reaction of surprise—from both adherents and critics. In one recent paper, Peter Lindert, an economist at the University of California, Davis, refers to Prescott's study as dependent upon “a theoretical model heavily laden with assumptions. It is educated, intelligent, plausible fiction—but fiction nonetheless.” On the other hand (as Lindert points out) Prescott's model and findings are cited quite favorably by Nobel Laureate Robert Lucas in his 2003 presidential address to the American Economic Association. Lindert calls for empirical tests. Steven Davis at the University of Chicago Graduate School of Business and Magnus Henrekson of the Stockholm School of Economics oblige with a careful econometric analysis of the impact of labor income and consumption taxes on employment and work activity. In their study of rich countries in the mid-1990s, they find that a 12.8 percentage point difference in tax rates is associated with 122 fewer market work hours per adult per year and nearly a 5 percentage point decrease in employment—population ratios—an indirect affirmation of Prescott's theory. A very different perspective was presented earlier this year in a series of lectures by British economist Richard Layard, co-director of the Centre for Economic Performance at the London School of Economics. Layard takes issue with GDP itself as a satisfactory measure of human welfare—or utility, as Jeremy Bentham and subsequent economists have termed it—noting that “happiness has not increased, despite huge increases in living standards.” To summarize a lengthy argument, Layard's idea is that a tax wedge on labor income could actually increase utility by decreasing a sort of pollution: overwork brought on by the inherent human desire to do better than our peers, regardless of our absolute level of income. Keeping up with the Joneses, in other words, leads to overwork, ill health and unhappiness—rivalry distorts the leisure/labor decision. Appropriate public policy should diminish this pollution by taxing it. “In an efficient economy,” Layard writes, “there will be substantial levels of corrective taxation ... 60 percent would not seem inappropriate, and that is in fact the typical level of marginal taxation in Europe—if you allow for direct and indirect taxes.” Prescott responds Prescott's reactions to these ideas vary widely. Sitting in his seventh-floor office at the Minneapolis Fed, he reads through the first pages of Lindert's paper, then drops it on his desk. “It doesn't seem to be coherent,” he says. Davis and Henrekson's study, on the other hand, intrigues him. That might seem predictable given its broad support of Prescott's findings, but Davis and Henrekson employ a technique Prescott generally scorns: statistical regression. “Progress, don't regress,” he says with a smile, quoting the slogan featured prominently on his Internet home page. Regardless of their method, Prescott is drawn to the findings and has invited Davis to Minneapolis to get a closer look at their work. But Prescott's response to Layard's argument—more complete and nuanced—conveys a sense of Prescott himself. He begins by summarizing Layard's case in a phrase: “I'm happy if I have a lot more income—than you,” he says, grinning and quite aware that he does. As to the overwork such rivalry might cause, “that just says there's a consumption externality.” Then he conveys the concept with a story. “I always tried to create a positive externality in Pittsburgh for my neighbors who had these beautiful lawns,” he jokes of his grad school days at Carnegie Mellon University. “By my having a messy lawn, their lawns looked so much better. I mowed it, but I didn't do much else with my lawn. And it gave me utility to see them happier.” He tells the story with a verbal wink, acknowledging silently that his Pittsburgh yard care externality may well have been less than zero. The conspiratorial smile changes to professorial zeal as he begins to dissect Layard's reasoning: “Suppose everybody cares about relative consumption as well as own consumption. You work out the equilibrium, it's not Pareto optimal. Let's deal with the case where everybody enters symmetrically. So it's simple to make the ordering. Well, you can make everybody better off by just putting a tax on consumption so that they work less. That's a very standard model. Now what would be the empirical evidence for and against that?” In under five minutes, Prescott has crystallized an argument, communicated it to a visitor in plain language and personal anecdote, then converted it to the idiom of economics and laid out steps for its confirmation or refutation. It's vintage Prescott: analytically brilliant, unexpectedly funny and several beats ahead of everyone else. That last bit is the essence of a conversation with the economist. When you ask him a question, it sometimes seems that his reply is off-topic; then it dawns on you that Ed Prescott is answering the question you should have asked. A pattern of surprise Prescott's willingness to entertain alternatives, to listen to critics, to incorporate the unexpected is deeply characteristic of his work. That flexibility is, in fact, the paradoxical outcome of a rigid research discipline. In setting model parameters, for instance, or reporting research results, “the investigator has no degrees of freedom,” he says. “You have to tie your hands and if there's a deviation from your predictions, you report it. You can speculate on why, but you've got to be totally honest.” Intellectual honesty also means allowing findings to modify, even subvert initial hypotheses. It happens frequently, says Prescott. Much of the work for which he's best known—theories on time inconsistency, real business cycles, the equity premium and growth theory—has been developed in an ongoing process of research and revelation. “When I work out the implications, I'm quite often surprised: The findings change my views quite dramatically,” he says. “When I did the real business cycles work with Finn Kydland, I was certain that monetary shocks were the reason the economy fluctuated with the business cycles. Our findings were just the opposite. When I did some work with Rajnish Mehra on the equity premium puzzle, I was certain that the reason for the high historical difference in the return on equity relative to debt was just a premium for bearing aggregate, nondiversifiable risk. We found it wasn't.” For time inconsistency and the impact of taxes on labor supply, as well, surprise has been an intrinsic part of the process. Future direction As striking as his labor supply findings are—and though many aspects of it remain unresolved—Prescott senses that the big theoretical questions in economic growth lie elsewhere, and he is now turning his attention to them. “I think I've had my say on labor supply,” he concludes. In his Ely lecture, he lays out three sources of economic growth: capital, labor and productivity. The first two are important in understanding why some nations remain poor while others prosper, but the central question, contends Prescott, is what determines productivity? “Given productivity, our macro models are great,” he says. “But we treat it as exogenous. We've got to have a better understanding of mapping between policies and productivity.” In other words, what can governments do to enhance productivity? Prescott's main candidates are efficient financial markets, competition among producers and trading clubs. And currently, the last is his major focus. “What is a trading club?” he asks rhetorically. “Well, first, free movement of goods between the member states. But it's much, much more than that. ...” Prescott continues at length, with a discourse ranging from Toyota factories in Wales to trade among the U.S. states in the 19th century. He speaks quickly, and as he does there is a sense that each research question he asks leads him to a dozen more, each more interesting than the last. He will travel soon to Warsaw and then Bogotá to explore these ideas with other economists and policymakers. “It's going to be fascinating to see what's happening in Poland,” he remarks. In Colombia, “the president is trying to do some good things there, and we have to go down and help out.” He's not a policymaker himself. “I leave that to other people,” he says. “I'm no good at it. My comparative advantage is working out implications of theory.” And in so doing, it seems there is just one constraint: Even for Ed Prescott, a scholar who understands labor supply dynamics as well as anyone on earth, there are only 24 hours in a day. “Time,” observes the economist, “is the most valuable resource.” 1 The two assumptions: (1) that people decide between leisure and consumption based on their relative prices, at the margin, and (2) that in a competitive market, wages are equal to their marginal product of labor. The “key equilibrium relation” also depends on the share of a nation's output due to capital. Top of document Advanced Search Glossary See also: Shrinking a deadweight loss

European Vacation Spots Travel

Europe off the beaten track - My favorite European Vacation Spots  You are here: About > Travel > Europe for Visitors > Europe Travel Planning > Europe off the beaten track - My favorite European Vacation Spots Travel Go Europe Essentials European Vacation Planning Map Europe Travel 101 - Before you Go European Distances The Best of Europe European Photo Gallery Articles & Resources Europe Travel Planning What to do In Europe Lodging - Hotels and More European Travel Maps Sex and Nudism Travel Photography Transportation Benelux Countries France Germany Austria Switzerland Greece Italy and Malta Travel Info Scandinavian Travel Spain and Portugal United Kingdom and Ireland Buyer's Guide Before You Buy Top Picks Italy Travel Guidebooks Europe Travel Guidebooks German Travel Guidebooks Product Reviews Forums Help FREE Newsletter Sign Up Now for the Europe for Visitors newsletter! See Online Courses   Search Europe for Visitors Meteora Monastery - Off the beaten tourist track and worth visiting James Martin Stay up to date! Meteora Monastery - Off the beaten tourist track and worth visiting James Martin Email to a friend Print this page European Travel Planning Travel Planning Guide European Maps European Distances Recent Discussions Need Help Planning a Trip Accomodation in london Mediteranean Feries Most Popular Europe Map - Distances Between Cities in Western Europe Europe's Best Nudist Beaches Europe Picture Galleries Italy Pictures Europe Travel 101 - Before You Travel to Europe for the Firs... What's Hot Power Adapters Noord-Holland - Delights of North Holland Travel Visiting Pompeii Italy Guidebooks Naples - Getting There Related Topics France for Visitors Greece for Visitors United Kingdom / Ireland for Visitors Eastern Europe for Visitors Italy for Visitors Europe Off the Beaten Track From James Martin , Your Guide to Europe for Visitors . FREE Newsletter. Sign Up Now! My favorite "undiscovered" European vacation spots It's fine to visit the European capitals. They're all big enough to sop up a glut of tourists. But smaller places that are both uniquely interesting and lightly traveled are getting more difficult to find and often seem amazingly ethereal: travel is so easy today that Rick Steves' back doors stop becoming back doors the minute he mentions them. So my favorite places aren't undiscovered--they're just a bit too far off the beaten track for the mega-tourism companies to worry about. Meteora - Greece Monastic history starts in Meteora in the 11th century when the first hermits sought peace and solitude in the rifts and caves in the isolated pinnacles that rise above the valley of the Pineios (Pinios) river. By the 14th century the Byzantine Empire was coming apart at the seams and the monastic communities of the Athos peninsula were always in danger of Turkish pirate raids and other persecution. After one such encounter, three monks went searching for a rather inaccessible home to avoid it all. They eventually settled on top of a rock called Stylos . Endowments and people followed, and an amazing community of 24 monasteries built pinnacles on was born. Everything got hoisted up (and down) by nets, even people. And the toilets? Off the cliffs went the waste--all of it. Today, a paved road winds between the largest monasteries. The most spectacular vistas in all of Europe are just around the bend. Bring plenty of film. Meteora means "suspended in air" and they mean it. You can find a hotel in Kalambaka and walk to the monasteries from there if you're reasonably fit--Kalambaka is 9kms from the monasteries. There are busses, tours, and taxis as well. Close by: Metsovo, a small community of excellent woodcarvers is just to the northwest of Kalambaka. Much of the really fine carving you'll see in the monasteries comes from the carvers of Metsovo, but if you go to Metsovo (easy by bus) you can buy carvings made for tourists as well. When to go: Spring or Fall to avoid crowds. Yes, this is a place that's "discovered" but remote. Late fall works well, although it'll be cold in the morning, and downright freezing in Metsovo, higher up in the mountains. Still, this allows you to taste Greece's "other" cooking, the hearty and warming stews you don't get in summer. More: Meteora is one of the Great Walks of Europe Also see: Meteora Pictures | Meteora Travel Directory Cathar Country - France I was at a party just before embarking on my first European vacation in the 70's when I asked a French guy I'd just met what his favorite city in Europe was. He answered "Carcassonne," a walled city smack in the heart of Cathar country. By golly, he was right, Carcassonne is definitely worth a day or two in itself. But I've since made a recent trip back to the area and discovered many other interesting things to see in the Aude region--except for tourists--and it was the middle of the season. What's here? Castles perched high on hilltops, the mysteries of Rennes le Chateau, great sparkling wine called Blanquette de Limoux, and great walking trails. Plus, Cathar country is easy on your wallet; the Aude is one of France's poorest areas and lodging is relatively cheap and plentiful. What's nearby: Provence isn't far, and if you're driving it's a great "next stop." More: Cathar Country Travel Directory | Rennes le Chateau | The Best Cathar Castles to Visit Asturias - Spain Northern Spain is ignored by many American tourists, yet it's one of the places I'd go back again and again. Some of the attractions are righfully famous, including the prehistoric painted cave called Altamira--the "Sistine Chapel of Prehistoric Art". The country around the Picos de Europa range is some of the most beautiful in Europe. Lodging options include nice historic country inns called Posadas, as well as Casa Rurales--rural houses that will allow you to slow down your vacation and see the countryside at a leisurely pace. This is a rural area that preserves its history and way of life in a way that can be attractive to tourists looking to discover a beautiful solitude. Have a cider, some of the local blue cheese called Cabrales, and contemplate a trip to one of the regions prehistoric caves--or a walk along the pilgrimage route passing through the pretty port town of Ribadesella. When to Go: Tempered by the cool Bay of Biscay to the north, Northern Spain doesn't sweltering in the summer, usually. Don't be afraid of going in the high season, although we did witness some incredible thunder storms in July. Did it stop us? Nope--we just dragged a chair out under the covered patio of our casa rurale , got out a camera and some cheese and bread, and watched nature's finest display of natural fireworks. Incredible. Close by: Basque Country More: Asturias and Cantabrian Coast Map and Travel Planner | Summer Storm Pictures | Picos de Europa Visit Europe's most compelling islands next. 1 2 Next        Topic Index | Email to a Friend Our Story | Be a Guide | Advertising Info | Work at About | Site Map | Icons | Help User Agreement | Ethics Policy | Patent Info. | Privacy Policy | Kids' Privacy Policy ©2005 About, Inc., A part of the New York Times Company . All rights reserved. Around About New Video iPod - Review POLL: Must-Have Gadgets VIDEO: Portable Gaming VIDEO: Choosing a TV Hugh Hefner's Life What's Hot Power Adapters Noord-Holland - Delights of North Holland Travel Visiting Pompeii Italy Guidebooks Naples - Getting There

Air Travel's Bargain Basement:

Amazon.com: Air Travel's Bargain Basement: The International Directory of Consolidators, Bucket Shops and Other Sources of Discount Travel: Books: Kelly Monaghan Your Store Books See All 32 Product Categories Your Account | Cart | Wish List | Help | Advanced Search | Browse Subjects | Bestsellers | The New York Times® Best Sellers | Magazines | Corporate Accounts | Amazon Shorts | Bargain Books | Used Books | Textbooks Search Amazon.com Books Web Search This item is not eligible for Amazon Prime, but over a million other items are. Join Amazon Prime today. Already a member? Sign in . 12 used & new from $2.44 Have one to sell? A9.com users save 1.57% on Amazon. Learn how . See larger image Share your own customer images I own the rights to this title and would like to make it available again through Amazon. Air Travel's Bargain Basement: The International Directory of Consolidators, Bucket Shops and Other Sources of Discount Travel (Paperback) by Kelly Monaghan (1 customer review) Availability: Available from these sellers . 12 used & new available from $2.44 Customers who bought this book also bought Discount Airfares : The Insiders' Guide, How to Save Up to 75% on Airline Tickets 2nd Edition by George E Hobart Fly Cheap! by Kelly Monaghan The Encyclopedia of Cheap Travel (Updated Annually) by Terrance Zepke Home-Based Travel Agent, 4th Edition by Kelly Monaghan Part Time Travel Agent How to Cash In On by Kelly Monaghan Explore Similar Items : in Books Editorial Reviews Travel Europe, February 2000 There are a lot of consolidators out there, and the more you know about them and the way they operate, the better your chances of saving a bundle. An excellent book called "Air Travels Bargain Basement" casts a bright light on the subject. Book Description There are many strategies for saving money on air fares, but for simplicity, you can't beat turning to the specialists who buy tickets from the airlines at the equivalent of wholesale and then sell them to the public at a discount. Trouble is, finding the right one can be tricky. Most companies specialize by destination and some sell only to travel agents. "Air Travel's Bargain Basement" saves air travelers hours of fruitless searching and untold dollars on fares by sorting out over 500 sources of discount travel here and abroadand offering valuable consumer protection tips for dealing with these bargain-basement vendors. Entries are cross-referenced for easy look-up by company name, by location, and by destination (Domestic, Africa, Asia, Caribbean, Central and South America, Europe, India, Nepal, Pakistan, etc.) See all Editorial Reviews Product Details Paperback: 122 pages Publisher: Intrepid Traveler (November, 1999) Language: English ISBN: 1887140131 Product Dimensions: 0.2 x 5.7 x 8.5 inches Shipping Weight: 5.1 ounces. Average Customer Review: based on 1 review. ( Write a review. ) Amazon.com Sales Rank: Today: #502,875 in Books Yesterday: #475,804 in Books (Publishers and authors: improve your sales ) Customers interested in this title may also be interested in: Sponsored Links: What is this? Find Flights SuperSearch Across Multiple Airline Sites For Low Fares www.travelzoo.com Travel Air Exclusive Fares On Major Airlines Worldwide. 1-800-243-2773 www.CheapSeats.com Travel Air Save Big on all Flights! Book now with Travelocity www.travelocity.com Feedback Customers who viewed this book also viewed Home-Based Travel Agent: How to Cash in on the Exciting New World of Travel Marketing by Kelly Monaghan Internet Marketing for Your Tourism Business: Proven Techniques for Promoting Tourist-Based Businesses over the Internet by Susan Sweeney Explore Similar Items : in Books Customer Reviews Average Customer Review: Write an online review and share your thoughts with other customers. 6 of 6 people found the following review helpful: Good bargain hunting manual , May 11, 2000 Reviewer: bigworld.com (Lancaster PA) - See all my reviews This is a new title that's a who's who of cheap travel providers worldwide, listing hundreds of top-notch ticketers around the globe who consistently offer the best fares to independent travelers. With phone numbers, fax numbers, and internet addresses, this book is a bargain-hunter's dream. You'll earn your $10 back many times over. Was this review helpful to you? ( Report this ) Listmania! So You Just Got Back From Ital... : A list by Joe Sanders Part-Time Travel Agent : A list by "kvetsh" Misc. Travel (Inc. Outdoors, W... : A list by "dustylou" Create a Listmania! list Look for similar items by category Subjects > Arts & Photography > Photography > Travel > General Subjects > Reference > Catalogs & Directories > Directories Subjects > Travel > General > Guidebooks Subjects > Travel > Specialty Travel > Air Travel Look for similar items by subject Air Travel Airlines Deals General Rates Reference - Guides (General) Travel Travel - General Travel Costs i.e., each book must be in subject 1 AND subject 2 AND ... This Book and You Sign in to rate this item Write a Review | Write a So You'd Like To... Guide | Tell a Friend About This Item | Rate This Item Spec tacular Readers Never misplace your reading glasses again with the hip and stylish magnetic readers from CliC . 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Spain travel guide Hiking

Spain travel guide Spain travel guide Back home | Bookmark | Start page | Site map Services Free postcards News Online games User's forum Free wallpapers Channels Home & Family Family Health Home Kitchen Self help Women Leisure Entertainment Holidays Travel Technology Computers Freeware Internet -- Personal tech Webmastering Business Business Job & Career -- Money & Finance Real estate Science Astronomy -- Biology Chemistry -- Ecology & Geology Engineering Medicine Math & Physics Paleo & Archeology Site Search Website directory Submit your site Free email Username: Password: Help Lost password? Travelling To Spain - The Spanish Regional Travel Guide Rhiannon Williamson Up to 60 million visitors travel to Spain every year to delight in the country's 315 sunny days and its rich and diverse history and culture. As a result the Spanish government spend millions of Euros per year on the travel and transport infrastructure to service the country's growing population and its ever growing numbers of visitors. Therefore Spain has to be one of the easiest and most affordable of the world's popular destinations in terms of its accessibility - particularly from the UK and Northern America. For example there are cheap flights available from all British airports to main and regional airports across Spain daily and direct flights from the main Spanish hubs to the US daily. As an alternative for British and European travellers there are fantastic countrywide train, coach and ferry links and great access for those who prefer to travel by car. This article breaks down the main Spanish travel options by region. Northern Spain The easiest way to access this region is by plane from one of the main UK airports flying directly to Bilbao or from the US to Malaga with transfer to Bilbao. It's possible to connect with Iberia flights for connections across the North and throughout Spain. Alsa and Eurolines have sophisticated coach networks and it's possible to travel all the way across Europe to Bilbao or San Sebastian and then pick up local coaches or rail connections. You can also sail from the UK port of Plymouth to Santander with Brittany Ferries, or you could take the P & O route from Portsmouth to Bilbao. Castile and La Rioja The cheapest way to access these regions is possibly to fly to one of the main Spanish hubs Barcelona, Bilbao or Madrid for example, and then either drive or get connecting flights. You can connect with Iberia for flights to Logrona in La Rioja or Valladolid in Castile. Castile, Rioja and Navarre are serviced by an excellent road network which makes getting around simple and again, Alsa coaches will connect you with major and minor destinations across the regions and the entire country. Aragon, Navarre and the Pyrenees As these regions are easily accessible by car or coach from Madrid it may be best to get a cheap flight to Madrid and then drive the E90 to the heart of the region. You could consider getting a connecting flight to Zaragoza in the middle of the region which is a good jumping off point for explorations in this stunning part of Spain. Alternatively access to this region can be made by rail or coach. Eurolines coaches will connect you with Pamplona or Zaragoza; Eurostar rail will take you from the UK to Paris and from Paris you can catch an overnight high speed rail link to Madridfrom Madrid the options are varied, from local rail and coach connections, car hire, and local flight connections with Iberia. Costa Brava and Costa Dorada As we move east to the beautiful Northern Catalonian coastal regions of the Costa Brava and Costa Dorada, so accessibility increases. Barcelona airport is the main airport for these regions and it welcomes cheap UK and US flights. You can then connect to Girona in the Costa Brava region or Reus in the Costa Dorada region. Barcelona itself has an underground train network for access throughout the city, and if you want to travel further afield the Spanish rail service RENFE has many mainline and local services servicing both regions. The main coastal road in Costa Brava is the A7, with the A2 taking you west away from Barcelona and the C32 taking you south from Barcelona into the Costa Dorada. Barcelona has a port with ferry services to Genoa, Rome, Mallorca, Menorca and Ibiza. Central Spain and Madrid Central Spain's main airport is Madrid and it welcomes direct flights from all the major UK and US airports and some of the smaller ones as well. As Madrid is such a major city you can imagine it acts as an important travel hub for the whole of Spain. Coach and rail networks and main auto routes all radiate from the city. Madrid has two main stations with trains departing for regional and international destinations, and the city has an underground metro system as well. Costa del Azahar The main travel hub of this region is Valencia with the city's airport enjoying direct UK flights. To access the rest of the region you can take advantage of the RENFE services from Valencia or enjoy the city via the FGV trams and underground trains. If you want to travel from the coast to Madrid take the N430 and A3; to explore the coast take the A7. Again, Eurolines coaches operate connections to towns and cities in this region including Valencia, Sagunt and Vinaros. And last but not least, Valencia is a port city and has ferries running across the Mediterranean with destinations including Malta, Ibiza, Italy etc. Costa Blanca Most visitors for this region enter via Alicante airport. With the Costa Brava well serviced by roads and Alicante airport offering great car hire opportunities many people prefer to access the rest of the region by road, though RENFE, Eurolines and Alsa offer excellent rail and coach alternatives. Costa Calida Murcia is the main airport for this region, though Alicante airport is also accessible affording visitors and residents an extra opportunity and advantage. From Murcia there are a number of major train services including direct links to Madrid. In terms of roads, again the Costa Calida is a region with an excellent network of major roads and routes: the N340 runs from Alicante through Murcia to the Costa del Sol, the A7 hugs the coast and local, national and international coach lines service the area. In the port town of Cartagena a passenger terminal was built in 2003 which now serves as a destination for some of the major cruise liners on their way to and from destinations around France, Greece and the Black Sea Coast. Costa de Almeria You're spoilt for choice when it comes to airports serving this region, you can fly to Alicante or Murcia and travel by road or rail into the region or you can fly direct to Almeria airport. The cheapest flights are often to Alicante. RENFE have mainline train services from Almeria to the city of Granada, Eurolines, Alsa and Enatcar all offer coach services across Costa de Almeria. The major routes in the region are the N340 which runs from Costa Calida through the town of Almeria and on south to the Costa del Sol, the A92 which connects with Granada and the A348 which connects Almeria with the Alpujarras. In terms of sea access, Transmediterranea have ferries from the port of Almeria to Northern Africa. Costa del Sol and Andalucia If you can't get a flight to this region of Spain you must be doing something wrong or maybe just hoping to travel during peak season! The main airport is Malaga and nearly every single airline you can think of flies from almost every single UK and US airport you can think of! If you can't get a flight and you're in the UK you might consider driving to the Costa del Sol! In which case your best bet would be to sail from Plymouth to Santander or from Portsmouth to Bilbao and then travel the 900 or so kilometres south. If you start off in Bilbao you'll need the A68 and A1 to Burgos, or from Santander take the N623 to Burgos then from Burgos travel via the N1 to Madrid. From Madrid head to Granada, from Granada head for Malagaphew! Alternatively get a Euroline coach all the way from the UK to Estepona or Malaga or travel from Paris on the fast night train to Madrid and connect with the AVE fast train to Cordoba which in turn connects up with regional Costa del Sol services. Costa de la Luz and Gibraltar You can either fly to Gibraltar or Jerez in the region or make use of the many cheap flights to Spain that land in Malaga. There are ferry services between Tarifa and Algeciras in Spain and Tangiers in Morocco, bus and rail services across Europe and through Spain to the Costa de la Luz and strong road links with the E15 serving Gibraltar from the mainland. Whatever your final destination you should be able to find cheap flights to some of Spain's main airports and then use local and regional travel services to access your destination of choice; as I hope I've shown, the whole of Spain is incredibly easily accessible. About the Author 2005 All rights reserved Rhiannon Williamson rhiannon@shelteroffshore.com Rhiannon Williamson is the publisher of http://www.shelteroffshore.com - the online resource for investment property abroad, offshore investing and living overseas articles, guides and resources. Click the following link for Spanish property and moving to Spain articles, guides, resources and recommended reading. More articles Alicante Spain Vacation ideas Disney World Florida Road rage RV travelling Ormond Beach Florida Samoa Polinesia Home exchange Youth Hostels history Florence Italy Georgia Wine Country Travels digital cameras Africa viewing safaris Cabo Gata Spain Alaska cruises Arizona travels Rehoboth Beach Delaware San Antonio Texas Spain travel guide Hiking socks Quotes I dont know which is worse, ...that everyone has his price, or that theprice is always so low. -Calvin I dont like electrons; theyve always had a negative influence on society. Chris Lipe. I canna change the laws of physics, Captain but I can find ye a loophole. I could charge you with sexual assault, but I wont if you sleep with me. - Marian to Byron Writers If you are a writer and want to see your article published at Theallineed.com, just click here to submit . 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