Good Exchange Rate Helps Canadians

Canadian Snowbirds visiting the Grand Strand this winter will be getting more for their loonies. The loonie, a Canadian dollar, has rebounded recently to give Canadians the best exchange rate in years. Currently a U.S. dollar costs $1.27 Canadian, compared with $1.60 last winter.

"Canadians are able to spend more in the United States," said Lawrence Barker, executive director of the Canadian Snowbird Association, which has 80,000 members. "They are not on such frugal limits."

No statistics are kept of the economic impact of snowbirds, travelers from Canada and East Coast states visiting the Grand Strand to escape harsh Northern winters. However, many area businesses see the effect on their business. A lot of area businesses depend on them to make it through the winter season. Some snowbirds start arriving in November, but most arrive in January and stay through March.

Lee Lear, Director of Operations for The Myrtle Beach Resort, said, "We're extremely pleased to see the improved exchange rate. Our Canadian visitors are important to us year-round, but during the winter months they are absolutely vital to our business."

Click here for the current exchange rate