We're keeping our eyes open for bargain travel options for Canadians to help overcome our falling Loonie. Yesterday, we posted deals being offered in Florida and Arizona and today our friends at Travelzoo have come up with five destinations that will offer Canadians great value in 2016. They are:

1- Iceland
Deal example: Flights from Toronto or Montreal to Reykjavik starting at $249 each way, including taxes.
Icelandair services Vancouver, Edmonton, Toronto and Halifax and will introduce Montreal later this year while WOW Air plans to launch service this spring with prices at $99 each way. The new flights and increased competition will likely push down fares. Reykjavik is also a great layover option and gateway to the rest of Europe.

2- China
Deal example: Vacation packages to China, including flights, hotels, meals, tours and taxes for less than $1,000 per person.
Fares from Canada to China have been on the decline in 2014 and 2015 and Travelzoo Deal Experts predict fares to hit an all-time low in 2016. Additionally, tour operators purchased bulk vacation package inventory in advance due to the declining loonie, which will result in more deals. Travellers should book early in 2016 as deals will diminish once the inventory runs low. Tour East Holidays ( http://www.toureast.com ) is offering an incredible air and hotel inclusive deal to Beijing - "Beijing on a Shoestring" - for just $699 per person - air taxes $480pp - that departs March 15.

3- Poland
Deal example: Return flights from Toronto to Warsaw for $700 including taxes.
Poland is one of the only European countries that is still a good deal for Canadians due to the low cost of living. Travellers can pay on average $60 per night for a 4-star Kraków hotel and dine at the top-rated restaurant on TripAdvisor - Restauracja Starka - for $32 per person including drinks.

4- Rio de Janeiro
Deal example: Return flights to Rio from Toronto for $640, including taxes.
Two factors make Rio de Janeiro more accessible and affordable for Canadians in 2016: the declining Brazilian real and a hotel room surplus as a result of the Olympic Games. Rio is one of the few destinations that offers a favourable exchange rate for Canadians as 1CAD = 2.86 BRL. More than 70 new hotels have also been built in anticipation of the Olympic Games, increasing occupancy from 31,000 beds to 51,000 beds. Travellers will find the best deals post-games as the hotels look to fill the increased inventory. Also, Brazil announced this week that Canadians no longer have to have a visa when they arrive - at least during the Olympic Games.

5- Dominican Republic
Deal example: Weeklong all-inclusive vacations with flights for $815 including taxes.
  Low fuel costs and expanded flight capacity have helped cut the price of all-inclusive vacations to the Dominican Republic. Deals for travel in 2016 are discounted by almost 40% from Toronto and 55% from Winnipeg, when compared to similar packages in 2015. Additionally, Air Canada and Sunwing increased their weekly flights to Puerto Plata. And West Jet is expected to double capacity this June.