The cost of the drop in Australian dollars
October 10th 2008 02:08
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Yesterday was a big day. The Australian dollar dropped on average 30% against all major currencies. Not only did this affect the stock market and everything involving business and investment, it affected everyone who had travels booked but haven't fully paid for.
Yep. You heard it right. If you have something booked with a travel agent and you havent paid for it in full, please contact your travel agent to have everything repriced and pay it off as soon as you can. It is likely that if the price havent increased already, it will soon.
The impact of the global financial disaster has finally hit the travel suppliers whom have up to now been absorbing the currency loss, but can now no longer withhold the loss and forced to pass these costs onto their customers. The major areas are overseas packages involving hotels and land transport and tours that haven't paid been paid for, that requires the suppliers to convert the Australian dollar payment from customers to their counterparts in other countries, hence losing the money.
So, a ski package for four to Canada for example, just over night, without warning, the price increased by $1790. Ouch.
Not everything has been affected yet, and so far I am only aware of three wholesalers that have increased their prices. Don't blame your travel agents though if you have received a phone call from them asking you for more money, they really are just the middle man, and have to the do nasty job of telling you rather than getting those responsible to call and give the bad news.
Yep. You heard it right. If you have something booked with a travel agent and you havent paid for it in full, please contact your travel agent to have everything repriced and pay it off as soon as you can. It is likely that if the price havent increased already, it will soon.
The impact of the global financial disaster has finally hit the travel suppliers whom have up to now been absorbing the currency loss, but can now no longer withhold the loss and forced to pass these costs onto their customers. The major areas are overseas packages involving hotels and land transport and tours that haven't paid been paid for, that requires the suppliers to convert the Australian dollar payment from customers to their counterparts in other countries, hence losing the money.
So, a ski package for four to Canada for example, just over night, without warning, the price increased by $1790. Ouch.
Not everything has been affected yet, and so far I am only aware of three wholesalers that have increased their prices. Don't blame your travel agents though if you have received a phone call from them asking you for more money, they really are just the middle man, and have to the do nasty job of telling you rather than getting those responsible to call and give the bad news.
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