Have you changed your vacation travel plans because of the weak Canadian loonie?
Recent numbers out of Buffalo suggest that you have!
Buffalo Niagara International Airport has noted a 20% or so drop in the number of Canadians flying out of their facility.
They didn’t compile their data from any official source. Instead, they conducted a licence plate survey at the airport parking lot. When Canada’s dollar was through the roof, 40% of the lot was inhabited by Canadian vehicles. Now, that number has dropped by 15-20%.
Now more Canadians are flying out of Pearson, because that flight out of Buffalo isn’t so cheap anymore.
We’re also booking more all-inclusive packages to get a cheaper rate.
Vacation lengths are being trimmed down as well, given the cost of a lengthy trip with the Canadian dollar at 75 cents per US buck. Remember, the bank’s exchange rate ‘taste’ will increase the cost of a US dollar to over $1.30 Canadian in some cases!