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Weak Dollar Draws Foreign Shoppers
International travelers arrive with fat wallets, empty suitcases
By Lucas Laursen
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Posted Nov 30, 07 9:46 AM CST
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(Newser)
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Foreigners are taking advantage of the weak US dollar to do their holiday shopping in the States, Time reports in a look at a double-edged trend. Even as American shoppers find the cost of imported goods soaring, international visitors are arriving in droves, and "they're mentioning the exchange rate more often," says one merchant.
Some shoppers arrive with just the clothes on their backs and empty suitcases, which they stuff with cheap booty. Thanks to cheap flights and the lack of sales tax, Minnesota's Mall of America has seen an influx of Icelanders. "They're power shopping here every day," says the sales director at a nearby hotel.