In the past most Americans haven’t paid much attention to what goes on in Canada. It has largely been due to the chasm between U.S. and Canadian currency. However, things have changed with Canadian currency and it is causing Americans to take notice. The Canadian dollar, the loonie, has gained ground and has given Canadians more cross-border purchasing ability, which has improved by more than half in the last five years.
New York tourism officials admit they have taken Canadian visitors for granted in past years, and are making plans to draw more of them to the U.S.. New York is putting ads in Toronto newspapers and on Canadian web sites to invite Canadians to visit on fall weekend getaways. There are also plans to open a New York tourism agency in Toronto. It would be the first in Canada.
The Canadian dollar, nicknamed the loonie, passed the American dollar in 2007 when it hit $1.01. In 2002, it was only worth around 62 cents. Now, since Canadians are wielding a more powerful dollar, U.S. tourism representatives are paying more attention to our northern neighbors and are inviting them to visit and shop in the state of New York. Like most Americans it doesn’t take much encouragement to go shopping. Even though some Canadians are still hesitant to plan trips to the U.S. to shop, usually the reality of the improved exchange rate will push them over the edge to visit the U.S., which is pleasant turn of events for many U.S. businesses.