NEW YORK: Cross-border shopping trips from B.C. to the U.S. are down 28 per cent since a peak in early 2013, according to a new report from the Business Council of B.C.
In early 2013, the Canadian dollar was near parity with the U.S. dollar, but now trades at about 81 cents US.
“The fall in the value of the Canadian dollar, unsurprisingly, has led to a decline in the number of British Columbians making short-duration visits to the United States,” stated the report released Tuesday.
The result is about 148,000 fewer same-day cross-border trips each month from B.C. to Washington state, the report found.
Over the same period, retail spending in B.C. has picked up considerably, which the report attributed to several factors, including more British Columbians buying goods — including gasoline — at home.
