By all indications, the dollar will remain strong for the foreseeable future, which means that it will continue to create headwinds for foreign visitors interested in coming to the United States. International travelers often stay longer and spend more than American tourists, so their business is much needed in gateway cities. Of 56.5 million visitors to New York last year, about 1 in 5 came from abroad. At the end of last year, the strong dollar hadn’t reduced the number of visitors coming from abroad, but it did put a dent in spending per traveler. But with so many foreign travelers now booking their trips farther in advance, the impact of the strong dollar along with the ongoing weakness in overseas economies could finally make a noticeable impact on guest bookings from overseas. Read more here.
