“Let’s take a vacation.”
It’s a phrase used by many at this time of year, as people seek warm weather and adventure.
But in recent years, journey weighs more and more heavily on the wallet.
On Wednesday it got even more expensive.
For the second time this year, the Canadian interest rate has fallen by half a percentage point.
And since the Canadian dollar offers less purchasing power when traveling to America, this could put travelers in a somewhat difficult situation.
Jamie Milton, president of Uniglobe Travel, said the dollar had an impact on where people choose to travel.
“If you buy hotels, rent a car, pay for meals, etc. in the United States, it now costs you a lot more than it did a year or ten years ago,” she explained.
“And that impacts where people choose to go.” People want to get the best value for their money. They stay within a certain budget and now their budget doesn’t extend as far into the United States.
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Milton said people have turned to things like all-inclusive resorts in places like Mexico, where the cost is known in advance and there are fewer unexpected costs.
People also choose to travel to Europe or Australia, where they can get a little more bang for their buck.
Stephanie Schoenrock, executive director of Visit Minot, said Canada has always played an important role in its tourism industry, being so close to the border.
She said to attract visitors, businesses had to make changes.
“Many Minot businesses are willing to offer discounts specifically to Canadians on our website,” Schoenrock said.
“We offer discounts only to Canadians on certain hotels, restaurants, and some for activities here in town. This doesn’t completely make up for the problem, but it helps soften the blow.
And even though things now cost more from Canada, Milton said he’s only seen the number of people taking a trip increase.
“They’ll be looking at where they can travel for better value so they can continue to do the same number of trips that they’re used to doing,” Milton explained.
“(Travel helps) create experiences and memories. It’s not something you can always do. But I think people also get pleasure and mental health benefits from travel.
Schoenrock said Minot has seen the same increase in population.
“There were more people crossing the border into Minot in September and October than in the last five or six years,” she said.
“There’s no doubt that everyone is feeling this economic pinch right now, there’s no doubt about it…but Minot has been a great solution for them.”
It seems that for many, the Canadian dollar does not stop people from traveling to the South or around the world.
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