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.
7 comments:
We love this, because our Swiss pension checks keep getting bigger and bigger.
Yippee, doing my best to use this to my advantage on North Michigan Avenue today!!
Wow, I didn't know it fell that low under 1 franc.
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!!! :)
Interesting. I did not know that about the dollar.
When we first came to Switzerland, in the early 70's, the exchange rate was five Sfr. to the dollar.
Wow, 5 CHF for $1. If only!
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