Aussie dollar slide is good news for new tourists
The Australian Dollar has slid markedly over the past several weeks, down a full
2% in the last day as the worldwide commodity prices decline. However, the
falling dollar could boost tourism numbers as a trip down under becomes more
affordable to international travellers.
Tour operators and industry groups are bracing for hardship as the world economy
heads for recession. Australia's Tourism and Transport Forum, a tourism industry
body, anticipates that the first half of 2009 could see a decrease in visitors
to Australia. "When times are tough, the first thing people cut back is
discretionary spending, and that includes holidays," says Executive Director
Olivia Wirth.
However, if the Australian Dollar continues to slide against other world
currencies, the comparative affordability of a holiday in Australia could help
offset some of the fall. The Australian Dollar has slid against the currencies
of two its top sources of tourists, the UK and the United States, making it more
affordable to travellers from those countries.
The Australian Dollar is currently trading at $0.430 to the pound, and $0.682 to
the US dollar.
If the trend continues, Australia could see bargain-hunting visitors making the
long journey down under.
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