From Superpower to Superstore: With dollar low, US becomes one big outlet - by Jen Abelson
For Europeans, America is one big discount bin, thanks to a weak dollar that slid this week to another record low against the euro. As a result, tourists are spending thousands to travel to the United States to snag blockbuster bargains on everything from iPods to designer clothes and handbags."With Americans looking to cut back and conserve because of economic uncertainties, the holy grail this holiday-season year for retailers are the international travelers who are coming to the US in record numbers," said Patrick Moscaritolo, president of the Greater Boston Convention & Visitors Bureau.Boston is projecting a 14 percent increase in overseas visitors this month compared with November of last year.The weaker dollar also is promoting tourism. On Monday, the US Department of Commerce said this past summer was a record-breaking season for international travel to the United States. Both the number of travelers and overall spending by visitors surpassed previous highs. The nearly $30.7 billion foreign visitors spent this summer, which includes purchases of food, lodging, and gifts, was a 14 percent increase over the summer of last year.
Note EU-Digest: The US goes from Superpower to Superstore, and it's a Superstore for "made in China" produced products. The Chinese must be laughing all the way to the bank! At least it makes more sense than trying to be a Supercop around the world"
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