Wednesday, April 27, 2011

America is on sale!

For awhile, I didn't know what could help the United States recover from its economic demise, but now I do: the Swiss tourists.

There's a lot of excitement among Swiss and expats in Switzerland. They can't wait to go on a shopping vacation–to the USA. Among Europeans, the U.S. is now considered a budget destination. See above, this was the leading topic in today's newspaper, "20 Minuten."

To further the incentive, the dollar fell yesterday to a new record low against the franc: $1 is now only worth .87 francs.

In just six months, the dollar has fallen 10%; 17% for the year against the franc. Since I moved to Switzerland five years ago, the dollar has fallen a total of 30% in value. Now that's a reason to get home and get shopping.


Hattie said...

We love this, because our Swiss pension checks keep getting bigger and bigger.

Anneliese said...

Yippee, doing my best to use this to my advantage on North Michigan Avenue today!!

M'dame Jo said...

Wow, I didn't know it fell that low under 1 franc.

Federica said...

On the flip side, for those of us with ties that they're trying to cut with the US (such as bank accounts, pension funds, etc.) this exchange rate is a pain...
Oh well, as you said, let's look at the bright side of life: shopping trips!!! :)

Anonymous said...

Interesting. I did not know that about the dollar.

Hattie said...

When we first came to Switzerland, in the early 70's, the exchange rate was five Sfr. to the dollar.

Chantal said...

Wow, 5 CHF for $1. If only!

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