Falling price of Canadian dollar gives tourism a boost
CALGARY –The plummeting dollar may have forced a wedge in some travelers’ plans to vacation south of the border. But it hasn’t upset everyone.
The plummeting price of the loonie is actually helping tourism in Canada.
It’s not the only business getting a boost.
Businesses like the Inglewood Shave Shop hope the dollar’s descent translates into higher online sales.
“There’s free shipping over a certain dollar amount and we certainly have been seeing an increase in American customers.”
There is also optimism in the film industry that our lower currency will attract non-Canadian talent.
“[There is] definitely attention paid to the country when the dollar gets to the level where it is right now … and it’s obviously on top of the incentives that are offered by the jurisdictions,” said Luke Azevedo, the film commissioner with Calgary Economic Development.
“This will help us become more attractive globally as well.”
WATCH BELOW: Dropping loonie isn’t bad for BCs film industry
Tourism officials hope the dollar’s downward slant will also encourage Canadians to stay in the country, instead of heading stateside.
“Americans get an extra 20% because of the exchange rate, but there are great deals for Canadians as well – especially when you compare it to going down south,” said Tom Rosner, of Resorts of the Canadian Rockies.
That sentiment is echoed by other hotels and ski resorts that hope Canadians will stick around.