Raphael Stevens

U.S. President Donald Trump hold up an executive order, “Unleashing prosperity through deregulation,” that he signed in the Oval Office on January 31, 2025 in Washington, D.C., while also speaking to reporters about tariffs against China, Canada and Mexico.
Chip Somodevilla | Getty Images News | Getty Images

The U.S. stock market was rocked Monday after President Donald Trump kicked off a possible global trade war. Shares of companies spanning the auto, industrial, retail and beverage industries with international supply chains were hit particularly hard.
Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada, while adding a 10% levy on imports from China. The president said Monday that he’s pausing the Mexico tariffs for one month after Mexican President Claudia Sheinbaum agreed to immediately send 10,000 soldiers to her country’s border to prevent drug trafficking. Trump also ramped up his tariff threats to the European Union.

Tariffs could not only increase the cost of transporting goods across borders, they could also disrupt supply chains and crimp business confidence. Goldman Sachs warned that Trump’s latest action could cause a 5% sell-off in U.S. stocks due to the hit to corporate earnings. Here are some of the most affected industries and stocks:
Automakers
These tariffs could have a material impact on the global automotive industry, which has a heavy reliance on manufacturing operations across North America.
Detroit’s big three car makers — General Motors, Ford, and Stellantis — could feel the pain from disrupted supply chains as a result of tariffs and may be forced to shift production from foreign factories to the United States.

Automakers getting crushed

Food and beverage
Constellation Brands, a large importer of alcohol from Mexico, is leading a sell-off among booze stocks.
Canada has threatened to pull American alcohol from its government-run liquor shelves in response to Trump’s 25% tariffs.

Restaurant chain Chipotle Mexican Grill and avocado company Calavo Growers could feel the pain from more costly supplies, as these companies import avocados from Mexico.
Retailers
Sportswear brands Nike and Lululemon could be vulnerable to Trump’s tariffs because of their heavy reliance on Chinese imports, including fabrics. Their sizable business in China could also be hurt by the negative sentiment from the trade war.
Discount retailers such as Five Below and Dollar General could be among the hardest hit businesses, as imports from China usually make up a significant portion of their sales. Another victim could be Canada Goose, a Canada-based luxury outerwear firm.

Retailers getting hit

Railroads
Tariffs could be damaging to railroad operators, as heavy duties could slow the flow of goods being transported to the U.S., hurting their revenue and profits.

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Union Pacific

Union Pacific Corporation moves freight to and from the Atlantic Coast, the Pacific Coast, the Southeast, the Southwest, Canada and Mexico. Norfolk Southern and Canadian Pacific Kansas City are also exposed to the tariffs.  
Chinese e-commerce
Trump’s tariffs also targeted a trade provision that helped fuel the explosive growth of budget online retailers, including Temu. The orders against China, Canada and Mexico all halt a trade exemption, known as “de minimis,” which allows exporters to ship packages worth less than $800 into the U.S. duty-free.
PDD Holdings-owned Temu and Alibaba’s AliExpress may no longer be able to take advantage of the loophole to sell cheap apparel, household items and electronics.

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PDD Holdings More

British payments startup GoCardless reported a net loss of £35.1 million ($43.8 million) in the full year ending June 2024.
GoCardless CEO Hiroki Takeuchi said its his aim for the company to post its first full-year profit in 12 to 18 months’ time.

Hiroki Takeuchi, co-founder and CEO of GoCardless.
Zed Jameson | Bloomberg | Getty Images

Financial technology unicorn GoCardless more than halved losses in 2024 and said it’s aiming to reach full-year profitability by 2026.
The London-based startup, which helps businesses collect recurring payments such as subscriptions, reported a net loss of £35.1 million ($43.8 million) in the full year ending June 30, 2024.

That was a 55% improvement from the £78 million GoCardless lost the year prior.
The firm noted that “restructuring activity” at the end of the full year ending June 2023 contributed to a reduction in operating losses in 2024. In June 2023, GoCardless announced it was cutting 15% of its global workforce. That took GoCardless’ salary expenses down 13% to £79.2 million in the company’s 2024 fiscal year.
Still, while this improved the company’s financial picture, GoCardless’ CEO Hiroki Takeuchi told CNBC that revenue growth also helped significantly.
“We’re much more focused on the cost side … We want to be getting very efficient as we scale,” Takeuchi said in an interview last week. “But we also need to continue growing. We need both of those things to get to where we want to be.”
GoCardless grew revenue by 41% to £132 million in full-year 2024. Of that total, £91.9 million came from customer revenue.

Last year also saw GoCardless record its first-ever month in profit in March 2024. Takeuchi said its his aim for GoCardless to post its first full-year profit in 12 to 18 months’ time, adding it’s “well on track” to do so.

‘No plans’ to IPO

Back in September, GoCardless acquired a firm called Nuapay, which helps businesses collect and send payments via bank transfer.
Asked whether GoCardless is considering further mergers and acquisitions in future, Takeuchi said the firm is “actively looking,” adding: “We’re seeing lots of opportunities come up.”
Following its acquisition of Nuapay, Takeuchi said GoCardless is currently testing a new feature that allows clients to distribute funds to their own customers.
“If you take something like energy, the vast majority of the payments are about collecting money,” he told CNBC.
“But then you might have some of your customers that have solar panels on their roof and they’re sending energy back to the grid, and they need to get paid for that energy that they’re generating.”
GoCardless, which is backed by Alphabet’s venture arm GV, Accel and BlackRock, was last privately valued by investors at $2.1 billion in February 2022.
Takeuchi said the firm had no need for external capital and that there are “no plans” for an initial public offering in the near term.
Fintechs have been watching Swedish fintech Klarna’s plan to go public closely — but many are waiting to see how it goes before deciding on their own plans.
With technology IPOs at historic lows, several startups have instead opted to provide employees and early shareholders liquidity by selling shares in the secondary market.
In November, Bloomberg reported that GoCardless had chosen investment bank Lazard to advise it on a $200 million secondary share sale. GoCardless declined to comment on the report. More

The Los Angeles wildfires that started on Jan. 7 are likely to be the costliest in U.S. history.
Residents impacted by the Palisades Fire and the Eaton Fire now face ample financial questions and worries, tied to issues like homeowners insurance and relocation.
It will take time to sort out many of their concerns.

Homes burn above Pacific Coast Highway during the Palisades Fire on Jan. 8, 2025, in Pacific Palisades, Calif. 
Photo by Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images

Alicia Kalvin awoke the morning of Jan. 7 to an urgent text from a friend: “There’s a fire on your street.” She hurried outside, alarmed to see red skies and low-flying planes dumping water.
“I have to get out of here,” thought Kalvin, 53, who lives in the Pacific Palisades of Los Angeles.

Back inside, she glanced out the bathroom window and saw a hellish scene unfolding. It was a neighbor’s house engulfed in flames, embers spewing into her own yard.
Kalvin frantically threw on clothing. She grabbed her purse, her dog, a can of dog food and her mother’s ashes before fleeing her childhood home. She didn’t get an evacuation warning.
Flames licked the hills of the Los Angeles enclave as Kalvin drove away. She says she’s had nightmares ever since.
Three days later, she returned to the area with a police escort.
“I promised myself I wouldn’t look, but of course I looked,” said Kalvin. “It looks like 10 nuclear bombs went off. The whole neighborhood was just leveled — markets, churches, schools. It looked like a war zone.”

A mobile home park is destroyed during the Palisades Fire on Jan. 8, 2025. 
Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images

In one sense, Kalvin is lucky because her home, somehow, is still standing.
But questions about her financial future abound — as they do for thousands of L.A. residents whose lives were upended by the recent wildfires.
There’s significant damage to Kalvin’s home. Some sections of the exterior, including the roof, are scorched; the landscaping and artificial lawn are destroyed; the interior smells of smoke; and ash, blown in through broken windows, blankets the hallways, Kalvin said.
She’s trying to untangle what her home insurance policy — the California FAIR plan, the state’s insurer of last resort, which steps in when residents can’t obtain coverage elsewhere — might cover.
“I’m very concerned at how much I’m going to have to spend if and when I fix up this house,” said Kalvin, who is single and doesn’t have kids. “Because insurance won’t cover everything.”
Even before the Palisades Fire, Kalvin faced financial challenges.
Work has dried up in Hollywood in recent years; Kalvin — an educator hired to teach child actors on television, movie and commercial sets — has had trouble finding gigs. She collects unemployment some weeks and funds income shortfalls with savings originally earmarked for retirement.
“My future is very up in the air,” she said. “And the uncertainty is very unsettling.”

‘There are no answers right now’

Patrick O’Neal sifts through the remains of his home after it was destroyed by the Palisades wildfire, in Malibu, California, Jan. 13, 2025.
Brandon Bell | Getty Images

The recent wildfires that erupted in Greater Los Angeles — fueled by hurricane-force winds and exceptionally dry conditions, exacerbated by climate change — are estimated to be among the costliest in U.S. history. They’ve killed at least 29 people.
AccuWeather estimates the blazes caused more than $250 billion in total damage and economic loss.
S&P Global Ratings projects the L.A. fires will cause roughly $40 billion of insured losses. That sum would exceed the roughly $13 billion of the Camp Fire in Paradise, Calif., in 2018, which was the costliest blaze in U.S. history.
“There are all sorts of costs associated with a disaster,” said Andrew Rumbach, a senior fellow at the Urban Institute who studies household risk to natural hazards and climate change.
“They pile up, and many Americans don’t have a [financial] cushion to rely on,” Rumbach said. “Our main way of dealing with that as an economy is going into debt. That lingers for a long time.”

The fires, largely contained, were still burning as of Thursday.
The blazes — the largest being the Palisades and Eaton Fires — have scorched more than 50,000 acres, an area exceeding the size of San Francisco, and destroyed more than 16,000 structures.
Most of those structures have been residential houses, S&P Global Ratings analysts wrote in a recent note.
The disaster pushed thousands of L.A. residents into one of the nation’s most expensive housing markets overnight. They were left with countless financial questions, compounding deep emotional scars: Considerations like where to live, how to clean up, whether to rebuild — and how to afford it all.
“Individuals are dealing with insurance, mortgages, the replacement cost of belongings, temporary housing,” said Sam Bakhshandehpour, 49, who’s lived in the Pacific Palisades for 13 years. “There are lots of near- and long-term variables and frankly there are no answers right now.”

I’m very concerned at how much I’m going to have to spend if and when I fix up this house. Because insurance won’t cover everything.

Alicia Kalvin
Pacific Palisades resident

Bakhshandehpour, an investment banker turned restaurateur, said the extent of damage to his home is unclear.
He wants to continue living in the Palisades, which he calls an “oasis” in L.A. — but acknowledges cleanup of debris and toxic materials and repair to local infrastructure “could be years.”
Indeed, the recovery period for L.A. residents could be two to five years or longer, Rumbach estimates.
Some residents may never be able to move back.
“Even if there is a desire on the part of the homeowners [to rebuild], it is unclear as to whether the land will be re-zoned such that it can no longer be developed,” according to S&P Global Ratings.

A ‘massive’ financial drain

Bakhshandehpour was able to find an unfurnished apartment in the interim. But furnishing a home from scratch has been a “massive” financial drain, he said.
There are some financial backstops that can help allay such displacement costs.
For example, victims may qualify for FEMA assistance. Applicants can get up to $770 upfront for basic needs like food and shelter while the government vets their application for more aid, potentially worth tens of thousands of dollars.

During a state of emergency, California law also requires home insurers to issue a cash advance worth at least 30% of a policyholder’s “dwelling” insurance limit, up to $250,000, without filing an itemized claim. They must also advance at least four months of coverage for living expenses.
“There is no comparison to the dollars you get from a home insurance policy,” said Amy Bach, executive director of United Policyholders, a nonprofit consumer advocacy group. “It has long been the most important source of funds to repair and rebuild, much more than any government program, for the vast majority of people.”
Some insurers are paying policyholders even more than the law demands, Ricardo Lara, the California insurance commissioner, said Jan. 23. However, others “are not adhering” to those consumer protections, Lara said.

Only a ‘ghost town hellscape’ remains

Melted lawn chairs are seen near the remains of a burnt home after the Palisades Fire. 
Agustin Paullier | Afp | Getty Images

The rules on advance insurance payments only apply for policyholders with a “total loss.”
But Julia Pollak’s home is considered a “partial” loss. Her insurer, State Farm, paid a $15,000 advance on the home’s contents and also authorized coverage for two months of living expenses. Both amounts are less than guarantees for those with a total loss.
Her house, in the Marquez Knolls part of the Pacific Palisades, is damaged but still standing — a white home now surrounded by “wasteland,” she said.
“There’s a row of seven houses standing. All the rest are gone,” said Pollak, a labor economist. “My house now looks out on a ghost town hellscape.”
She and her family — a husband and four kids, including a newborn — are in limbo in many respects.

For one, the insurance proceeds they’ve received so far aren’t enough to commit to a long-term lease, Pollak said.
“I looked into liquidating my 401(k) for emergency purposes, but the tax consequences are not very nice,” Pollak said. “So, I’m going to try not to do it.”
Thus far, the family has hopped from AirBnb to AirBnb. They don’t know where they’ll live after Feb. 5, when their current rental expires on a two-bedroom in Santa Monica.
More from Personal Finance:How climate change is reshaping home insurance in the U.S.7 steps homeowners and renters should take after a wildfireWildfire victims may receive a one-time $770 payment
State Farm urged Pollak to use its third-party vendor to find future temporary housing — a cost the insurer would pay for directly, rather than via reimbursement. As of Thursday, Pollak was awaiting approval for certain properties she’d identified. She worries they’ll be snapped up in the interim.
“As Feb. 5 approaches, I am getting pretty nervous,” she said.
Then, there are longer-term questions.
The back side of their home is scorched. Everything inside reeks of smoke; various consultants have warned the smell won’t disappear unless insulation and ducting is replaced. Contractors have recommended a “full gut” and a replacement of all porous, hard-to-clean items like carpets, couches and upholstered beds, Pollak said. They must wait for the insurer’s determination.

To stay or to go?

There’s an additional tension here: It may be difficult to stay in the Palisades, but it’s also financially difficult to leave.
Pollak and others she knows whose homes are still standing worry insurers will deem their homes livable in a few months. She wonders, would they be residing in a construction zone for five years with no neighbors, businesses or schools nearby?

Emergency vehicles are on the side of the road as flames from the Hughes Fire race up the hill in Castaic, a northwestern neighborhood of Los Angeles, California, on January 22, 2025.
Frederic J. Brown | Afp | Getty Images

Pollak and her husband bought their home in 2019 for about $2.75 million. Its value had grown to about $3.8 million before the wildfires, according to a Redfin estimate — the family’s biggest financial asset.
Now, they likely can’t sell or rent it for anything close to pre-fire value, Pollak said.
“Ideally, we’d keep it and enjoy it in five to 10 years when it blossoms again,” Pollak said. “But the carrying costs are so high that we can’t pay the mortgage without living there and also pay for comparable accommodation elsewhere.” 

An uncertain future

Search and rescue members work with firefighters through residential damage from the Eaton Fire as wildfires cause damage and loss through LA region on Jan. 14, 2025 in Altadena, California.
Benjamin Fanjoy | Getty Images

For all she and her family have endured, Pollak considers herself lucky: At least they have insurance.
Many insurers have stopped writing policies in California or limited their exposure due to wildfire risk. Homeowners who lost coverage may not have renewed it, while others may have foregone insurance altogether in the face of higher premiums — and those rates will likely increase in the future after the L.A. fires, said S&P Global.
Two-thirds or more of L.A. fire victims will find they were underinsured, said Bach of United Policyholders. That means their insurance policy won’t cover the full cost of rebuilding or repairing property.
For example, 36% of victims who filed insurance claims after the 2021 Marshall Fire in Boulder County, Colorado, were “severely” underinsured, according to a recent study by researchers at the University of Colorado Boulder and University of Wisconsin-Madison.
Their coverage was less than 75% of the actual cost to fix their home, the study found. That means policyholders rebuilding a $1 million home would need an extra $250,000 or more out of pocket, Tony Cookson, finance professor at the University of Colorado Boulder and a co-author of the study, said in a statement.

My house now looks out on a ghost town hellscape.

Julia Pollak
Pacific Palisades resident

State Farm, the state’s largest insurer, dropped Kalvin, the L.A. resident and teacher, in July 2024. She switched to the California FAIR Plan.
The policy has more meager coverage than her former policy, Kalvin said. She’s filed an insurance claim but hasn’t yet received any funds. As of Thursday, an insurance adjuster hadn’t yet been assigned to her case.
For now, her basic needs are being met. Kalvin is staying with a friend in Santa Monica and doesn’t have a mortgage on her Palisades home. While her bills are limited — largely for groceries, and health and auto insurance — she feels stretched given it’s been hard to get more than two days of work per week.
She doesn’t know what her future holds — and whether it will be in the Palisades.
“I probably would continue living there, because I have such love for the Palisades,” she said. “It’s home. But it’s so changed now. And I don’t know how I would feel.” More

LESS THAN two weeks into his new administration, Donald Trump has placed large tariffs on America’s three biggest trading partners—raising the spectre of a global trade war. With executive orders signed on February 1st, he initiated tariffs of 25% on imports from both Canada and Mexico, and added levies of 10% to imports from China. Although Mr Trump had vowed to do just this, his actions will still represent a shock to the global economy. They will drive up prices, weigh on growth and sow uncertainty for businesses. Moreover, they are likely to be just the first salvo for Mr Trump, who is itching to implement tariffs that are both more aggressive and more global. More

More than a dozen initial public offerings have started trading so far in 2025, with the latest launching Thursday. But these launches have largely been met with tepid market reaction. The Nasdaq’s president still thinks this year could be the IPO market’s comeback year. 
“I do think we start seeing things really start to pick up more in the back half of the year. But even the first half of the year, we’re starting to see some activity already,” Nasdaq president Nelson Griggs told CNBC’s “ETF Edge” this week.

Griggs compared the IPO market to a pendulum: It swings between waves of private and public investment. “We have a track record now,” Griggs said. “If you get three straight years of having limited capital raised in public markets, there’s an enormous pipeline.”
But it’s not all simple launches in that IPO pipeline. Panera Brands has faced roadblock after roadblock for years in its attempts to go public. Twin Peaks, the sports bar that started trading Thursday, is a spinoff of Fat Brands intended to help pay off debt. Even the newer companies and AI players such as OpenAI seem to be thriving and raising money in the private market, giving them little incentive to go public.
Griggs did acknowledge recent innovation in the private sector has allowed companies to access more liquidity and continue to raise funds without launching an IPO. 
“There is a massive convergence of public and private, because even in the private space, you can now have access to more liquidity,” he said. “But if you want deep, sustained liquidity, you need to go public.”
According to Griggs, that innovation does not mean that the private investment landscape has changed forever. He pointed to shifts in the markets as signs that the incentive to go public is returning. “Yields start doing better, valuation discounts kind of compress a bit, then the public markets get healthy again.”
Disclaimer More

Ten travel agents provided their picks for the most underhyped places to visit in the world.
They weigh in with their rationale, as well as can’t-miss activities and the best times to go.

Klaus Vedfelt | Digitalvision | Getty Images

Looking for travel inspiration for 2025 and beyond?
Look no further: CNBC asked 10 travel agents for their recommendations of the most underhyped destinations in the world. We compiled their written answers below, including can’t-miss activities for each locale and the best times of year to visit.

You’ll also find average round-trip airfare from U.S. airports. The data, provided by travel app Hopper, is based on average fares that were available to book from Jan. 15 to Jan. 22. Prices are for May-July 2025, when most Americans plan to take their longer vacations, Hopper said.
Travelers should aim to book over the next few weeks to score the best prices, it said.

Albania

Valbona National Park, Albania.
Eduardo Fonseca Arraes | Moment | Getty Images

Recommended by: Scott Abbott, managing director of Wilderness Travel
Why to visit: “The Albanian Alps, also known as the Accursed Mountains, are a mountain range very few people know about, so are totally untouched by tourism. But have some of the most gorgeous and dramatic hikes in all of Europe. They also have guesthouses, mountain huts and hotels that feel like what the Alps were like 30-plus years ago, all owned by local families and run in a traditional way very authentic to the place and culture.”
Can’t-miss: Hiking in Valbona Valley National Park

Best time to go: June to September
Average flight price: $926 to Tirana, Albania

Ecuadorian cloud forest

Cloud forest in Ecuador.
Gerard Puigmal | Moment | Getty Images

Recommended by: Allie Almario, South America and Galapagos expert at Premier Tours
Why to visit: “Most people think of Costa Rica when they think of cloud forest, but Ecuador also has the lure of the Galapagos Islands, so it’s a terrific combination. About three hours from the capital city of Quito, Ecuador, the cloud forest feels primeval and otherworldly.
“I love the Mashpi Eco Lodge, which is on the cusp of the rain and cloud forest in a private sanctuary. You’ve got incredibly rich biodiversity in this remote area — so remote the silence is almost deafening.”

Can’t-miss: “Mashpi Lodge offers an activity called the Dragon Fly — it is up to an hour ride in an open air cable car (seating only for four guests at a time and a naturalist) where you soar over the tree canopy. You hear nothing but the wind and bird calls and the distant crash of waterfalls 500 feet below you. The butterflies are like confetti.”
Best time to go: “Temperatures are pretty consistent throughout the year, but the main difference is rainy vs. dry season. Be prepared and either way, hiking in the cloud and rain forest will always be an adventure.”
Average flight price: $588 to Quito, Ecuador

Hamburg, Germany

The canals of Hamburg, Germany
Inigo Cia | Moment | Getty Images

Recommended by: Kareem George, CEO of Culture Traveler
Why to visit: “This ultra chic city is beautiful, sophisticated and extremely fun, with a variety of attractions for diverse ages and interests. The setting of the city is quite picturesque, nestled between the Elbe River and Alster Lake with many canals in between. It is an extremely walkable city with many historic attractions in the city center — such as the Rathaus (City Hall) and St. Nikolai Church — flanked by very cool neighborhoods such as the Speicherstadt (Warehouse) District, raucous St. Pauli and the quirky Schanzenviertel.”
Can’t-miss: “Two of the many must-see attractions are the iconic Elbphilharmonie and the unique Miniatur Wunderland. Advance tickets are highly recommended for both.”
Best time to go: “Hamburg is truly a destination for all seasons, however I particularly enjoyed a recent visit in the fall. The weather was perfect and it was wonderful to stroll along the lake, canals and to explore several neighborhoods on foot.”
Average flight price: $1,090

Kyushu, Japan

A hot spring resort in Kurokawa Onsen, in Kyushu, Japan.
Bohistock | Moment | Getty Images

Recommended by: Kristin Braswell, founder of CrushGlobal Travel
Why to visit: “Brimming with natural beauty at every corner, the southern island of Japan’s Kyushu may be overlooked for its popular northern neighbors like Tokyo and Kyoto, but it’s just as thrilling. Teeming with active volcanoes, palm-forested coastlines and bubbling onsens [hot springs] to retreat in, you will be enamored at every turn by the great, wide outdoors here. I highly recommend visiting the electric metropolis, Fukuoka, and Beppu, a mountainside jewel that is home to the most spring waters in the country.”
Can’t-miss: “Visiting the famous onsens, particularly the Jigoku Circuit, which are all grouped and within walking distance. They are a sight to see.”
Best time to go: “In spring, during cherry-blossom season and when the weather is pleasantly warm, or the fall, as the foliage begins to change with the seasons.”
Average flight price: Top three airports in Kyushu, by popularity from U.S. cities based on search demand:

Fukuoka: $1,326
Nagasaki: $1,617
Kumamoto: $1,594

Lençóis Maranhenses National Park, Brazil

Lençóis Maranhenses National Park, Brazil.
Ignacio Palacios | Stone | Getty Images

Recommended by: John Lansdell, planner at Trufflepig Travel
Why to visit: “Remote and staggeringly beautiful, this park of sand dunes, mangroves and freshwater lagoons is prime for both relaxing in and exploring — swimming, dune walks and quad tours, birding, etc.”
Can’t-miss: Swimming in the lagoons.
Best time to go: “When to visit is subjective, but high season is July and August: Full lagoons; warm, not too hot; rains have passed, but the gateway towns are busy. Either side of these months may be the best bet, although the park itself, a UNESCO World Heritage Site, is vast and won’t feel overly busy in high season.”
Average flight price: $1,069 to Sao Luis, Brazil

The Nordic countries (Sweden, Denmark, Finland, Norway)

Old town and town square in Stockholm, Sweden.
Leonardo Patrizi | E+ | Getty Images

Recommended by: Melissa Wu, founder of Woodlyn Travel
Why to visit: “The Nordics offer a great variety of destinations and activities, from the bustling nightlife and modern hotels of the cities, to rural pastimes like dog sledding and gazing up at the amazing northern lights. Classic Nordic activities like saunas and cold plunges share the stage with farm-to-table culinary extravaganzas. And the dollar is very strong right now, so you’ll get your money’s worth on some of the best seafood you’ll ever eat.”
More from Personal Finance:What to expect from travel prices in 2025Demand for international trips drives ‘travel momentum’Here are 4 big ways to save on your next trip
Can’t-miss: “Sweden’s capital and largest city, Stockholm, is known for a great museum scene with some truly unique attractions. The ABBA museum is a must-see for music lovers, while the Viking Museum and Vasa Museum, which houses a salvaged 17th century ship, pay tribute to Sweden’s history. And no visit would be complete without a stop at the Spiritmuseum, which celebrates Sweden’s drinking culture.”
Best time to go: “The Nordics offer something unique no matter what time of year you visit. Long summer days give way to amazing fall foliage, followed by Christmas markets and ice hotels during the wintertime, and lovely island-hopping adventures in spring. Stockholm’s cherry-blossom trees bloom in mid- to late-April, with a gorgeous display that rivals more well-known (and crowded) spots like Washington, D.C. and Kyoto.”

Average flight price:

Copenhagen: $769
Helsinki: $890
Oslo: $826
Stockholm: $801

The Philippines

Boats on the serene, azure waters near Coron Palawan, Philippines.
Travelstoxphoto | Moment | Getty Images

Recommended by: Tesa Totengco, founder and CEO of Travels with Tesa
Why to visit: “Although it is very much a part of Southeast Asia, the Philippines is off to the side from the rest of its neighbors. I suggest devoting your entire trip to the country and island-hopping.
“It has some of the most beautiful white powdery sand beaches (Palawan, Boracay, Bohol). There is a thriving contemporary art scene (Art Fair in Manila, held in February), and galleries supporting local artists (Silverlens, Artinformal, Gravity Art Space, Orange Project). In the capital, you can tour Old Manila and learn of the past from the 16th century Spanish colonialization right up to the American War liberating the country from Japanese occupation. There are pop-up shops throughout the year that celebrate Filipino design, and celebrated chefs with their own restaurants celebrating Filipino cuisine. It’s a predominantly English-speaking country, so the traveler will never feel lost.”

Can’t-miss: “This country is made up of over 7,000 islands, each unique in culture, history and flavor. It’s best to make a ‘halo-halo’ (meaning ‘mixed’) experience: Not just beach, for which the country is most famous.”
Best time to go: “It’s a tropical country, so the Philippines is hot and humid year round. Avoid the rainy season from June to October and come from December to February when the country is at its coolest.”
Average flight price:

Manila: $1,296
Cebu City: $1,446
Angeles City: $1,461

Tunisia

Sidi Bou Said, a town in northern Tunisia.
Max Shen | Moment | Getty Images

Recommended by: Sofia Markovich, owner of Sofia’s Travel
Why to visit: “Tunisia is home to some of the world’s most well-preserved Roman ruins, including the iconic El Jem Amphitheatre, a UNESCO World Heritage site that rivals Rome’s Colosseum in grandeur. Carthage, once a powerful city-state, showcases the remnants of an ancient civilization that shaped Mediterranean history.
“From the rolling dunes of the Sahara Desert to the pristine beaches of Hammamet, Sussa and Djerba, the country offers a variety of settings for adventure and relaxation. Matmata’s troglodyte homes, famously featured in Star Wars films, add a touch of cinematic wonder to the experience.”
“Tunisia’s cuisine is a highlight that captivates food lovers. With its bold flavors and Mediterranean influences, dishes like brik (a savory pastry), couscous and harissa-infused stews offer an authentic taste of the region. The country’s burgeoning wine industry adds to its allure.”

Amphitheatre of El Jem in Tunisia.
Westend61 | Westend61 | Getty Images

Can’t-miss: “Sidi Bou Said, with its white-washed houses and blue doors; and Carthage.”
Best time to go: “Tunisia is great to visit year-round”:

Spring (March-May): “Warm, ideal for exploring ruins and nature.”
Summer (June-August): “Hot, perfect for beaches but avoid inland heat.”
Autumn (September-November): “Mild, great for both beaches and culture.”
Winter (December-February): “Cool, best for the Sahara and fewer crowds.” 

Average flight price: $1,360 to Tunis

Uzbekistan

Bibi Khanum Mosque in Samarkand, Uzbekistan.
Izzet Keribar | Stone | Getty Images

Recommended by: Jonathan Alder, CEO of Jonathan’s Travels
Why to visit: “This incredible melting pot of cultures is one of the most stunning destinations in the world, with architecture, history and nature that would surprise even the most experienced traveler. 
“Its cuisine — a melting pot of Persian, Indian, Italian, and Chinese with hints of Russian — is a foodie’s dream. Once the heart of the Silk Road, the architecture doesn’t look like anything else you’ve ever seen. I love to start in the capital of Tashkent, which is a modern metropolis, then head to the ancient side of the country at the far end of the desert to step back in time. The mosque of Samarkand is one of the most incredible architectural highlights you’ll see in your life.
“Getting out of the cities, you can head into the mountains, which are essentially the back of the Himalayas, for incredible nature and green valleys outside of the stark, dramatic desert that you get for most of the rest of the country.”

The Old Town in the City of Bukhara, Uzbekistan.
Mlenny | E+ | Getty Images

Can’t-miss: “Samarkand. This was once the capital of the Silk Road, the crossing point for all trade routes between Europe and Asia. The sites here are the biggest in the country and some of the top highlights.”
When to go: “Spring and fall. The summers are quite hot and the winters get very cold. You can also make this a ski destination in the winter and combine it with the rest of the country.”
Average flight price:

Tashkent: $1,470
Samarkand: $2,226

Western Australia

James Price Point, Western Australia.
Luke Mackenzie | Moment | Getty Images

Recommended by: Kemi Wells-Conrad, founder and president of Wells Luxury Travel
Why to visit: “Everyone typically thinks of Sydney and the East Coast of Australia — and don’t get me wrong, it is a beautiful coastline. But I have always been a huge fan of Western Australia. It is incredibly diverse, and the landscapes are truly magnificent.
“Perth is your starting point and known as one of the most isolated cities in the world. There is world-class wine further south in Margaret River. The coast is filled with some of the most beautiful beaches in the world, such as Monkey Mia and Ningaloo Reef, which also are teeming with amazing marine life. The Kimberleys are wild, rugged and unique.”

Bungle Bungles, beehive-shaped sandstone towers in Purnululu National Park, in Eastern Kimberleys, Western Australia.
Michael Runkel | Imagebroker | Getty Images

Can’t-miss: “Ningaloo Reef. Forget the crowds of the Great Barrier Reef out of Cairns — imagine a pristine reef with no crowds. You can also swim with whale sharks here March to August. The luxury glamping experience at Sal Salis is a unique experience.”
When to go: “April to September. This is the sweet spot, their ‘winter.’ The temperatures are mild, however still much warmer than our northern hemisphere winter. And it would allow you to travel further north to the Kimberleys — outside of their wet season and before it heats up again from October on.”
Average flight price:

Perth: $2,043
Broome: $3,094 More