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Published on : Monday, August 14, 2017
In San Francisco, a pleasant surprise waits for Toshi Sugiyura and his wife Naka arrives from Japan. This would a trip for the couple to celebrate their anniversary. Kudos to the month-long drop of the US dollars against the yen, currency of Japan.
This 37-year-old businessman from Nagoya expressed that yen’s higher value in terms to dollars allowed him to buy gifts for their children.
“If the dollar keeps going down, maybe we’ll go to Hawaii,” added Naka Sugiyura, 41. The declining value of dollar in 2017 is allowing overseas tourists a major surprise in purchasing power along with higher spending on vacations, as confirmed by the experts.
From the start of 2017, euro, British pound, Chinese yuan along with few other currencies had made immense gain against the dollar. This gain however is quite new to influence most travel decisions. Experts confirmed that tourists characteristically freeze their vacations years ahead. However, travelers who had done prior summer bookings are finding their own currencies stretching further than six months ago. “We could see more spending by those who already planned to come,” said economist Adam Sacks, president of Tourism Economics in Philadelphia.
Brian Yong, a 45-year-old information technology engineer from Shanghai, explained that the yuan-friendly exchange rate made his stay in San Francisco a better good deal with more shopping. “Lots of Chinese come here because of the exchange rate,” Yong said.