06 November 2008
Aussie Dollar slide is good news for tourists
The Australian Dollar has slid markedly over the past several weeks, down a full 2% in the last day as the worldwide commodity prices decline. However, the falling dollar could boost tourism numbers as a trip down under becomes more affordable to international travellers.
Tour operators and industry groups are bracing for hardship as the world economy heads for recession. Australia's Tourism and Transport Forum, a tourism industry body, anticipates that the first half of 2009 could see a decrease in visitors to Australia. "When times are tough, the first thing people cut back is discretionary spending, and that includes holidays," says Executive Director Olivia Wirth.
However, if the Australian Dollar continues to slide against other world currencies, the comparative affordability of a holiday in Australia could help offset some of the fall. The Australian Dollar has slid against the currencies of two its top sources of tourists, the UK and the United States, making it more affordable to travellers from those countries.
The Australian Dollar is currently trading at $0.430 to the pound, and $0.682 to the US dollar.
If the trend continues, Australia could see bargain-hunting visitors making the long journey down under.
The Australian Visa Bureau is an independent consulting company specialising in helping people with their Australian visa application.
Article by Editorial Staff, Australian Visa Bureau.