Lagging Loonie Spells Tourism Growth in Region
I’ve noticed quite a few vehicles around this year with American licence plates.
According to the Ministry of Tourism, and CTV News, the 76 cent loonie led to a 12% hike in the number of visitors from the U.S. to our Blue Mountains area, setting an all-time high in May 2017. Business owners in the Blue Mountain Village are experiencing an overall increase in stays, including overseas tourists and new Canadians. Spin-off business from new Canadians – bringing their families from overseas to visit their new province – is also helping to buoy tourism sales. According to Blue Mountain’s Director of Marketing, Mark Rich, these strong number are forecast throughout the balance of the 3rd and 4th quarters of 2017.
It will be interesting to watch how these forecasts hold up, as the loonie is currently stronger at just under 80 cents.