Weak dollar draws more European visitors in 2007


E

EB

Well-Known Member
While this article's subject is also a travel issue, it is in the grand scheme of things related to the overall economic issues discussed today.

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Weak dollar draws more European visitors in 2007

By Barbara De Lollis, USA TODAY
The USA received 1.5 million more visits from overseas last year than in 2006 as the weak U.S. dollar lured more Europeans interested in exercising their increased buying power.

Last year, the USA received an estimated 23.2 million visits from outside North America, up almost 7% from 2006, according to a U.S. Department of Commerce estimate.

Visits by Western Europeans, the largest source of visitors, were up 8% for the year, and the news Tuesday suggested they continue to have a strong motive for visiting the USA: record strength of the euro. The euro surged Tuesday to an all-time peak of $1.4982 before closing the trading day in New York at $1.4967.

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Stores in east coast cities have been reaping a windfall of shopping by Europeans. The fly over stay in nice hotels and fill their luggage with everything from IPODs to Jewelry. They ran several stories over the holidays about the Europeans on a shopping spree in Philadelphia, New York and Boston.

I am off to Europe this spring and I wont be doing much shopping. Thank God I have Frequent Flyer and Frequent Hotel miles, otherwise I would not be going this year.

The weakness of the dollar does reflect the huge problem in the economy, there are other issues that might have a bigger impact down the road. Some countries are pushing to change the world trading currency from the US dollar to the Euro. That would be HUGE if it happened.
 
Olde Hornet said:
The weakness of the dollar does reflect the huge problem in the economy, there are other issues that might have a bigger impact down the road. Some countries are pushing to change the world trading currency from the US dollar to the Euro. That would be HUGE if it happened.
Click to expand...

Well first the US, well North America as a whole, is talkin' about creating the Amero, similar to the Euro. then later, just have one
currency for the entire world. It's amazing how all these things are discussed in the Bible.
 
Tony said:
Well first the US, well North America as a whole, is talkin' about creating the Amero, similar to the Euro. then later, just have one
currency for the entire world. It's amazing how all these things are discussed in the Bible.
Click to expand...

I don?t see this happening in my lifetime. Just as the British have not given up the pound, I don?t see Americans (US) giving up the dollar. The politicians and others will turn this into a patriotism issue and one of national sovereignty.
 
Olde Hornet said:
I don?t see this happening in my lifetime. Just as the British have not given up the pound, I don?t see Americans (US) giving up the dollar. The politicians and others will turn this into a patriotism issue and one of national sovereignty.
Click to expand...

True, maybe not in our lifetime, but why do you think China owns alot of America? It's because money rules the world not patriotism or national sovereignty. If more money can be made by switching from the dollar, trust
in the long run they'll switch.
The dollar is losing strength on the world market right now, how long you think
America will accept that?
 
Tony said:
True, maybe not in our lifetime, but why do you think China owns alot of America? It's because money rules the world not patriotism or national sovereignty. If more money can be made by switching from the dollar, trust
in the long run they'll switch.
The dollar is losing strength on the world market right now, how long you think
America will accept that?
Click to expand...

Money may rule the world, but power is gained through blinding patriotism and national sovereignty politics. For example, you have a President that was proud that he never left this country and many cheering that fact. The US has not evolved enough.

You have to understand MOST Americans have NO basic economic theory. They only understand it (when they are told what to think) when it?s used by politicians as a political stick with the appropriate talking points. Most have no clue as to why the dollar is dropping and the impact it has on their lives.

Fiscal responsibility is a foreign word for most Americans.
 
Quietstorm said:
It will happen and sooner than you think
Click to expand...

I would be SHOCKED to see it in my lifetime. The politics of America will have to make a major change.

Look at the noise that has been raised because EADS (Airbus) just won the big military contract.
 
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