Drop in Canadian dollar could have small impact
The declining value of the Canadian dollar, currently worth 92 cents on the U.S. dollar, is not a major concern for Maine’s tourism industry, but it could lead to shorter stays at hotels and tighter spending by tourists.
That’s according to business owners, hotel owners and Canadian tourists who spoke to the Bangor Daily News, saying it won’t hold back tourist traffic from the state’s neighbor to the north. However, the falling value of the Canadian dollar has had an impact on how long people stay.
Dan Donovan, co-owner of Friendship Oceanfront Suites in Old Orchard Beach, told the newspaper that while he’s seen an increase in bookings from last year, many guests are planning shorter stays.
Paul Golder, vice president of operations at Palace Playland, also in Old Orchard Beach, told the BDN he doesn’t think the declining Canadian dollar will have an impact on the number of visitors, but it could cause them to spend less money.
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