Florida’s Space Coast Tourism and the American Greenback
By Space Coast Daily // April 17, 2018
The Foreign Currency Markets
As we know Florida’s Space Coast is an amazing place for tourists to visit. The beautiful beaches, the warm climate, and the friendly welcome are underpinned by the draw of Orlando and Cape Canaveral.
Predicting who will visit, however, can be difficult to accomplish effectively. So here we investigate how the strength of the US Dollar may be one of the deciding factors at play as holidaymakers decide whether, or not, to come here.
Global Anxieties
There are currently numerous global uncertainties and anxieties the tourists will be only too aware of and that may make them think a little harder before committing to vacations abroad, particularly if that entails long-haul travel.
The issues surrounding Brexit, the UK’s divorce from the European Union being a prime example. So, as a result, those who are planning a spring-summer vacation, are sure to want to extract as much value for money as possible from the experience.
The Foreign Currency Markets
The ever-changing picture of the foreign currency markets, forex charts, can offer a valuable insight to help predict who can actually afford to visit the Space Coast. Much of Europe, France and Germany, for example, use the Euro and despite the tensions over Brexit, this has remained relatively strong.
At the time of writing, 1 euro is worth 1.24 US Dollars, but step across the English Channel and 1 British Pound will buy you 1.43 Dollars. So, it is conceivable that the Space Coast could expect a number of tourists from these countries.
It is, in fact, the Middle East where the currencies used by the wealthy oil-producing countries will get the best bang on the Buck. A survey conducted in March of this year found that Kuwait traded best against the Dollar, with 1 Dinar being worth 3.33 USD – the price currently stands at 3.34 USD to the Dinar.
The people of Kuwait, along with several other Middle Eastern countries then could certainly afford to visit, geopolitical circumstances allowing. But, what of those whose currencies aren’t as strong and therefore are less likely to come?
Well, these include the Australians and perhaps surprisingly our neighbors the Canadians who only get 80 American cents for their Dollar.
This information is all well and good, but how can it help the Space Coast and its tourism industry.
American companies within the travel and tourism sector can use the global currency markets and put the data to good use, as it serves as a roadmap for marketing activities. Focusing energy on the countries who can afford to come here will help in our fight to maximize profits and to share our wonderful world.
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