Foreigners flocking to America for bargains
True international travelers recognize that many attractions of America - hamburgers, shopping malls, the Statue of Liberty - the discount boosted by the weak dollar are among the most attractive.
"We think we are lucky to come here because it is so cheap now," said Naoko Yamanaka, a visitor to Tokyo, before biting into a Big Mac in Times Square.
The U.S. economy hanging in recent years has brought the dollar down with it.Which presents its own problems, but it has actually benefited the economy and less on one thing: Foreign travelers are drawn to the United States, where they can expect to get a bigger bang for their euro, franc, and the yen.
"If the dollar down," said Joel Naroff, president of Naroff Economic Advisors, "for foreigners whose currency has increased, it is like getting an automatic discount on the price."
The dollar rose to 75 on the U.S. Dollar Index Friday, approaching its record low of 70, says Kelly Loeffler on Intercontinental Exchange.While the dollar rebounded slightly after hitting a three-year low in May, the U.S. economy faltering and concerns about the U.S. budget deficit will continue to keep the dollar at historically low levels.
Meanwhile, several foreign countries have seen their dollar exchange rate to improve in the last year. Currencies of China, Brazil, Australia, Britain Canada and the European Union is more in the United States this year than last year, says Shane Norton, a director at IHS Global Insight, a firm consulting and forecasting of Lexington, Massachusetts
With the value of their currencies against the dollar instead, visitors from countries with favorable exchange rates profit center out of money, said Norton. "You will treat you that you have certainly not seen in a while here."
International travelers have heard of the bargain.
Demand for hotel rooms in the United States is at record levels, said Jan Freitag, senior vice president at Smith Travel Research, which followed the hotel occupancy rate since 1989. More than 1 billion American hotel rooms were sold between June 2010 and May 2011 - the highest number ever recorded, said Freitag.
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International travelers have caught wind of the bargains. Demand for US hotel rooms is at a record high, says Jan Freitag, a senior vice president at Smith Travel Research, which has tracked hotel occupancy rates since 1989. More than 1 billion America
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