Thinking about a late-summer golf trip? Looking for somewhere sure to provide great rounds at great value? Then look to Canada. Thanks to a very strong U.S. dollar versus the Canadian dollar (nicknamed the “loony” for its depiction of the national bird, the common loon, on the one-dollar coin), Americans are reaping a nearly 30% bonus on their bucks at courses like Cabot Links on Cape Breton, Nova Scotia, pictured above.
As of yesterday, one Canadian dollar was worth 75 cents American, that after a steady slide over recent years. In August 2012, the two dollars were almost at parity; in fact, the Canadian dollar was worth a penny or two more than the greenback. But in August 2013 the loony was buying only 96 cents U.S., then 91 cents in 2014, and 75 cents a year ago. The Canadian dollar reached its low in February—down to 70 cents U.S.—but even at that rate it was too cold to play in our neighbor to the north.
Right now, Canadian golf resorts are reporting big increases in American golfers, as well as non-golfing visitors, and many of them are even offering sweet deals on rooms and rounds. As the representative of a leading golf resort in Nova Scotia put it, “The Americans are coming by the boatload!” With one U.S. dollar buying $1.29 Canadian, to paraphrase a famous movie, they’re going to need a bigger boat.
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