August 26, 2008
OTTAWA – Canada’s strong dollar has contributed to a more than sixfold increase in Canada’s travel deficit and there’s no relief in sight, a report prepared for the Canadian Tourism Commission suggest
OTTAWA – Canada’s strong dollar has contributed to a more than sixfold increase in Canada’s travel deficit and there’s no relief in sight, a report prepared for the Canadian Tourism Commission suggests.
Last year, $10.2 billion more flowed out of the Canadian economy than into it as a result of such spending, continuing a steady increase from what was just $1.7 billion in 2002, the year before the loonie began its record rise to parity from less than 65 US cents, the report released by the tourism commission notes.
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