High-Flying Loonie Means You Need to Act Now!

June 18 2010 by Bryson Forbes

high-flying-money.jpgLet's face it; in general we Canadians are a pretty frugal bunch! We're always looking to get the best possible deal. People regularly ask me when the best time is to book travel in order to get the best deal; it's always a difficult question to answer with so many variables to consider--including those unpredictable things like volcanic ash!

Today, though, my crystal ball seems about as clear as it's ever going to be. I'm convinced that if you're planning a trip in the next six months, especially internationally, you'd be well served to book and pay for it now.

Three major factors support my prediction:

  1. Last minute deals are drying up. Most people I talk to still believe that waiting until the last minute to book will result in the best deal, but that's no longer true. Sure you'll find some, but there are better deals on a wide scale available right now for summer and fall--especially to Europe. Last summer, there were bargains everywhere but that's not the case now.
  2. Our currency is soaring. We're hovering back around par again with the U.S. dollar and our loonie is worth 50% more against the British pound and 14% more against the Euro than it was two years ago. In 2008, travel was booming and healthy. In fact, most travel companies had their best year ever. In 2010, people paying in Canadian dollars will enjoy a currency sale in most international destinations--it's a double digit percentage.
  3. Supply is shrinking. With last-minute deals drying up and our loonie soaring, people are already booking which in turn is shrinking options. This will result in higher prices as suppliers become less concerned with filling airplane seats and heads in beds.
This summer presents a fantastic time to travel, but you shouldn't wait to plan and book...do it now! Besides, once you're booked, you can relax and enjoy the anticipation of a great trip at the best price.

Let the countdown begin. Where are you heading this summer to take advantage of your Canadian dollar discount?

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