Experts believe that Canada’s declining economy could cause fewer snowbirds to head south this winter, especially since the drop in the loonie will make it more expensive for them to travel.
The loonie is currently worth 0.75 cents per U.S. dollar.
“The Canadian dollar depreciation means they’re paying more for every hotel rate or theme park ticket. That’s a big jump in prices for Canadians who are already facing a weak economy,” Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida, tells the Tampa Bay Times.
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