“Let’s take a vacation.”
It’s a phrase used by many this time of year, as people search for warm weather and adventure.
But over the last few years, travel has increasingly cut deeper into the pocketbook.
On Wednesday, it became even more expensive.
For the second time this year, the Canadian interest rate is dropping half a percentage point.
And with the Canadian dollar offering less buying power when heading to America, it could put travellers in a bit of a predicament.
Jamie Milton, the president of Uniglobe Travel said the dollar does impact where people choose to travel.
“If you’re buying hotels, car rentals, paying for meals, any of that sort of thing in the United States, it’s now costing you quite a bit more than it might have a year ago or 10 years ago,” she explained.
“And that does impact where people choose to go. People want to get the best value for their dollar. They are staying within a certain budget and now their budget does not extend as far within the United States.”
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Milton said people have turned to things like all-inclusive resorts in places like Mexico where the cost is known up front and there are less unexpected costs.
People are also choosing to travel to Europe or Australia where they can get a little bit more bang for their buck.
Stephanie Schoenrock, the executive director of Visit Minot, said Canada has always been a big part of their tourism industry, being so close to the border.
She said in order to help draw in visitors, businesses have had to make changes.
“A lot of businesses in Minot are willing to give discounts specifically to Canadians on our website,” Schoenrock said.
“We have discounts just for Canadians on some hotels, restaurants, some for activities here in town. It doesn’t offset it completely, but it helps lessen that blow.”
And despite things costing more money now travelling from Canada, Milton said they have only seen the number of people taking a trip increase.
“They will look at where they can travel for a better value or for a better price point so that they can continue to take the same number of trips as what they’re used to taking,” Milton explained.
“(Travel helps) build experiences and memories. It’s not something that you can always do. But I think people also get joy and mental health benefits from travelling.”
Schoenrock said Minot has seen the same increase of people.
“There were more people than came across the border to come to Minot in September and October than they have in the past five, six years,” she explained.
“There’s no doubt everybody’s feeling that pinch of economy right now, no question about it… but Minot’s been a great solution for them.”
It seems for many, the Canadian dollar isn’t keeping people away from travelling down south or across the world.
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Where can you travel when your money doesn’t go as far as it used to?
