Exchange Rates Impact Tourism, Home Sales in Florida High Season
The U.S. dollar is strong against the Canadian dollar and the Euro. It's a financial situation that's good for Americans traveling abroad but a worry for Southwest Florida’s international tourism industry. The unfavorable exchange rate means Canadians and Europeans will get less for their money than they’re used to. Realtors in the area say some are choosing to stay put this winter, rather than visiting Florida.
Meanwhile, Canadians who own homes in Southwest Florida are choosing now to cash in. Home values have ticked up slightly, but when $1.00 US will buy $1.33 in Canadian money, many see now as the time to sell and take advantage of the exchange rate.
Thursday at 1:30 p.m. on Gulf Coast live, realtor Mareike Stoutenburgh of Stoutenburgh Group International explains how exchange rates are affecting the Southwest Florida Real Estate Market.
We’ll also talk with Tamara Pigott, Executive Director of the Lee County Convention and Visitors Bureau, about efforts to bring international travelers back to the beach.
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