dck
加入时间: 2004/04/02
文章: 2801
经验值: 4649
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作者：dck 在 罕见奇谈 发贴, 来自 http://www.hjclub.org
Strong Canadian dollar boosts Buffalo Niagara businesses
Canadian shoppers take advantage of bargains in the U.S.
By Bill Michelmore and Aaron Besecker - NEWS NIAGARA BUREAU
Updated: 10/01/07 7:37 AM
Charles Lewis / Buffalo News
As cashier Barista Dane Wood and customer Kyra Medecigo of Youngstown both recognize, Starbucks on Third Street in Niagara Falls is a venue where the exchange rate is U.S.-friendly.
When the mayor of Niagara Falls, Ont., starts shopping at Sam’s Club on the American side of the border, you know something has changed.
R.T. “Ted” Salci has been among a growing number of Canadians making trips stateside in recent months as the American and Canadian dollars have became equal in value.
The buck and the loonie began trading at par nearly two weeks ago, for the first time in three decades, but that’s only part of the story.
Canadian shoppers are finding their stronger dollars are going further in the Buffalo Niagara region because the cost of goods — and sales tax — is generally lower than in places such as Niagara Falls, Ont., and Toronto.
That’s why Salci has his eye on a 37-inch plasma TV in Niagara Falls, N.Y.
The selling price: $733, compared with $1,300 across the border in his native city.
“America has such a variety of items,” the mayor said, “and now we have the buying power.”
Because of that, Western New York’s businesses and tourist trade are smelling economic opportunity.
“We’re on the verge of greatness,” said James Sandoro, founder of the Buffalo Transportation Museum. “It’s time for Buffalo to break out.” Salci agreed.
“This may be the perfect storm,” he said. “Everything is aligned for prosperity on both sides of the border.”
Spillover effect
With a stronger Canadian dollar, the neighbors to the north may be victims of their own success. But Americans have no need to feel sorry for them, particularly just over the border in Niagara Falls.
The Canadian city’s economic superiority has been increasingly obvious during the last decade as more towering hotels and buildings have been added to the city’s skyline. Work continues to move forward on a new $100 million convention center and several new lodgings, including a 56-story hotel.
The stronger Canadian dollar creates a spillover effect into Western New York.
Niagara Falls — Ont. and N.Y. — is rated the world’s sixth-most-popular tourist destination, according to Forbes Traveler, bringing in more than 20 million visitors a year.
Most visitors end up staying on the Canadian side, and the New York side is often an afterthought — but not when the cost of many travel-related goods is considerably less just a short drive away.
“Buffalo is the nearest urban center to a world-famous tourist destination. We are in a position to take advantage of that,” said Paul L. Snyder Sr., owner of Snyder Corp. and a partner in the company that manages two casinos in Niagara Falls, Ont., including the ritzy Fallsview Casino Resort.
“This is a very exciting time for Buffalo,” Snyder said.
A first-class hotel room cost $430 Saturday night at the Hilton Hotel in Niagara Falls, Ont.
A similar room at the downtown Hyatt Regency Buffalo — just 18 miles away — cost $210, less than half the price.
“We’ve already seen a definite surge” in Canadian visitors, said Julie Williams, director of sales and marketing for the Hyatt Regency.
The four-star accommodation in between those two cities — the Seneca Niagara Casino & Hotel in Niagara Falls, N.Y. — is already raking in more Canadian dollars. The complex is coming off its busiest summer since the casino opened in late 2002.
The number of Canadian visitors has doubled this year, largely because of the strong Canadian dollar, said Seneca Niagara Gaming Corp. spokesman Philip Pantano. Canadians now make up about 10 percent of patrons at Seneca Niagara, compared with about 5 percent last year.
At Niagara Falls State Park, officials are calling the summer of 2007 the most successful in quite some time, thanks, in part, to the strengthening Canadian dollar.
Through mid-August, an estimated 5.2 million visitors came to the state park since Jan. 1. That figure is up by about 100,000 from the same point last year. And state park officials saw a spike in visitors on Labor Day weekend, when 420,000 tourists came to see the mighty cataract.
Sales of a package of discounts to six American attractions were up by 38 percent from last year’s figure, regional parks spokeswoman Angela Berti said.
Other hotels on the American side of the falls have seen double-digit increases in occupancy rates this summer compared with last. The month of May saw a 13.5 percent jump, said John Percy, president and chief executive officer of Niagara Tourism & Convention Corp.
That was followed by a 16.5 percent spike in June, 9.1 percent in July and 8.7 percent in August.
“I think it’s just wonderful to see the trend heading back this way,” Percy said.
The obvious beneficiaries of the stronger Canadian dollar — or, more accurately, the weaker American dollar — are big shopping centers such as Fashion Outlets at Niagara Falls USA, Boulevard Mall in Amherst and Walden Galleria in Cheektowaga.
‘Tremendous time’
But the price advantages in the Buffalo Niagara region can be seen in many spots.
Visit a Starbucks on both sides of the falls border. A tall white chocolate mocha coffee and a cookie at Starbucks costs $5 in America and $9.20 in Canada, before adding tax.
After taxes, the snack and drink together cost nearly double in Canada — $5.40 here and $10.49 across the border.
There’s a similar disparity at the Hard Rock Cafe. The U.S. price for a Legendary 10 oz. Burger, fries and a 16-ounce Labatt’s Blue draft is $17.49.
In Canada, the food and brew will cost you $21.14 before taxes.
After tax, the cost in Canada is about one-third more — $24.91, compared with $18.90.
The total of all taxes on the burger and fries was a whopping 17 percent in Canada.
This bodes well in general for stores, restaurants and nightspots in the Buffalo Niagara region, economic experts said, and for new business ventures.
If the trend continues, Sandra Hays Mies, president of the Lower Niagara River Region Chamber of Commerce, believes that her organization would have a great opportunity to lure Canadian visitors to the United States as marketing efforts grow.
But at this point, she said, concerns about long lines crossing the border and passport issues may offset any benefits of the strong Canadian dollar for businesses in Lewiston, Youngstown and the entire region.
Still, the opportunity exists, said David P. Lacki, director of tourism for the Buffalo Niagara Convention & Visitors Bureau.
“This is a tremendous time for us to take advantage of the folks coming down from the falls,” he said. “Instead of spending a day in Buffalo, they may stay a night or two because their dollar goes further.”
And that’s the bottom line to the strong loonie. The American side of the border now has a competitive advantage.
“This is in incredible,” Lacki said. “We had no idea this was going to happen. We’re going to see a tremendous flow of Canadians and also international visitors from New York City.”
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作者：dck 在 罕见奇谈 发贴, 来自 http://www.hjclub.org |
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加币和美元等值－－大批消费者涌入美国购物、占便宜
