Will Weak Dollar Help Luxury Vacation Rentals in United States?
January 30, 2008. The media has been beating the bad news drum on the economy lately, but as any observer knows, there's always a silver lining in someone else's raincloud. In the case of the weak dollar, any vacation rental that accepts the dollar may be a winner.
The Conference Board's most recent consumer survey, for example, found the number of Americans who intend to take a vacation within six months has hardly taken a hit. The percentage went from 46.4 one year ago to 45.8 percent this year.
Many experts also speculate those travelers will stay in North America, because the dollar won't go as far in Europe or Australia as it will in California or New York.
The weak dollar could also draw more visitors from foreign countries, a demographic that has declined slightly since the September 11 attacks. Softening prices in the residential real estate market has also been drawing foreign investors eager to snap up a deal.
Likewise, American exports have been favored by the weak dollar, as our products now become less expensive for other countries to purchase.