Travel Deals for the Taking
Airfare is falling, and hotel prices have been slashed. CBS travel editor Peter Greenberg says now is the perfect time to get in on some outrageous deals on these four luxurious travel destinations.
Find travel bargains to Reykjavik, Iceland.
Reykjavik, Iceland
Iceland's economy collapsed in 2008, and since then it's done an excellent job of rolling out the deals to entice travelers. Not only is the U.S. dollar worth more in this once prohibitively expensive destination, but Iceland's deals are bundling the perks for added value. For example, Icelandair recently announced a November package from $469 per person, which includes round-trip airfare from New York or Boston, two nights at a three-star hotel in Reykjavik and Scandinavian-style breakfast for two. Other Icelandair deals include spa getaways, nature adventures and Northern Lights packages.

Another tip: The Visit Reykjavik Welcome Card offers discounts to major attractions, thermal pools, restaurants and shops, starting from about $11.

And, best of all, Iceland is closer than you think! It's only about a five-hour flight from the East Coast, and Icelandair serves airports in Boston, New York's JFK airport, Minneapolis/St. Paul, Orlando's Sanford airport and Seattle.

Find travel bargains to Hawaii's islands.
Hawaiian Islands
Hawaii used to be one of those destinations that was expensive to get to and expensive to stay in. But the economic downturn and cuts in air service haven't been kind to the islands. In 2008, more than 6.8 million visitors traveled to the islands, representing a 10.6 percent drop compared with the previous year. Air travel is expected to drop another 2.3 percent in 2009.

So how does one of the most popular tourists destinations in the world respond? With deals, of course! Look into vacation packages that bundle airfare and hotels—and even car rentals—for the deepest discounts. Pleasant Holidays, for example, has an air-inclusive package to Waikiki from $465 per person, and that includes a three-night hotel stay with kids 17 and younger staying free and daily breakfast.

Find travel bargains to Mexican resorts.
Mexico's Resorts
Mexico has had a tough time, between the economy, sensationalist media reports of crime and, of course, the H1N1 virus. So what does that mean? Now is the time to travel to Mexico! Deals abound in hotels and all-inclusive resorts such as Club Med and Sol Melia. The deals are especially good in the midst of hurricane season, which runs from June to November.

My advice? It's fine to travel to Mexico at this time—just purchase travel insurance and find out if the resort has a policy that will allow you future credit or to stay at a different property should it be hit by a hurricane.

Find travel bargains to Buenos Aires.
Buenos Aires, Argentina
The dollar is still king in South America, which means you can get great value for your travel dollars—right now it's nearly a 4-to-1 ratio! Because the seasons are opposite of ours, a great time to travel is in the shoulder season—like August-September (spring) and April-May (fall).

One of my favorite examples of how much value you can get in Buenos Aires is that I once took a production crew out to the most expensive steakhouse in the city—we went all out, with platters of meat, name it. The total bill was $109 for six people! Between cheese tasting at the Park Hyatt, dancing the night away at a traditional milonga and private tango lessons, Buenos Aires offers a cultural and dining experience like no other.