How Will the High Canadian Dollar Affect Canadian Tourism?
Here is the good news mixed with the bad. Canadian tourist operators depend upon visitors from the U.S. for a large part of their business. The last thing these operators want is to find their American customers turning away because of the declining U.S. dollar. So, it’s a fair prediction that Canadian businesses will be looking for ways to attract Americans to come north in spite of the exchange rate. Smart American travellers should watch for promotions aimed specifically at them. Some of the best places to find these should be border areas, because they are in direct competition with American businesses nearby. Also, independent operators (hotels, motels, attractions, restaurants) might have to sharpen their pencils more than their larger international chain competitors. Look for Promotions from Smaller Canadian Operators The larger international operators are used to dealing with foreign exchange risk as a normal part of their business, and to be efficient, they have hedging and ot
