Snowbirds hurting businesses in southern states
It’s been four years that the loonie has been decreasing in value before the US dollar. Things do not really seem to be getting any better and may stay that way for some time. In fact, there is a trend that points towards a greater loss. Snowbirds who have been staying for 3 to 6 months in the southern states are being discouraged to stay by the low value of the Canadian dollar.
Snowbirds’ favorite US destination has been the southern states where they can fly away from the Canadian frozen winters. During the winter months, there were many tourists traveling to the US to spend vacation time away in warmer climates. Now, some of them do not feel compelled to do so anymore since their currency has a lower value in the US. Tourists then have made other plans for winter vacations, such as Mexico and the Caribbean.
Of course, this is bringing consequences to businesses in the southern states that depend on the economic surge brought about by visiting snowbirds.
The impact of a weaker dollar is having repercussions in the economy of these states as they start to see a decline in business. Even those snowbirds who want to establish themselves in the US are finding it more expensive and more difficult to stay for extended periods. Snowbirds buying property has decreased as a result of the inflation that is caused by an ever-weakening Canadian dollar.
However, not everything is lost. Despite the fact that snowbirds find it more difficult to spend time and money in the US, some will still make the trip by making adjustments. It is thought that some of them still have friends in the southern states that they would like to visit. However, there are still many who have decided to stay at home.