Sunday, October 21, 2007

Dollar falls, Arizona imports decrease

The flip side of increasing exports is decreasing imports. When it comes to tourism, that's happening in Arizona as well.

Ryan Denke and his fiancee had planned to spend their honeymoon in Europe next summer, visiting a few countries on a two-week tour.

But come June, the newlyweds from Peoria will be flying to China, starting in Shanghai and ending in Beijing, just before the Olympic frenzy begins.

The culprit in their change of plans: the declining U.S. dollar...

In Europe, U.S. travelers have to multiply everything priced in euros by nearly 1.5 today, up from 1.2 the past few years. That means a 200 euro hotel room now costs $300 a night, instead of $240.

Five years ago, the two currencies were equal.

And it's not just in Europe.

The dollar has fallen to a nearly three-decade low against the British pound.

Canada, which used to be an economical vacation spot, isn't anymore. On Sept. 20, the U.S. dollar reached 1-to-1 parity against the Canadian dollar for the first time since November 1976.



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