Weak Swedish currency gives foreign tourists more spending power
Over the past few months, the Swedish krona has fallen to record lows against other major currencies.
According to recent statistics from the Swedish bank SEB, a decrease in industrial production over the last four months is the cause, which may also signal that Sweden could be heading for a recession.
But the falling krona could mean foreign tourists will see their travel budget stretch further when they come to Sweden.
Radio Sweden spoke to Karl Steiner, SEB’s Chief Quantitative Foreign Exchange Strategist, tourists and shop owners to find out how this will affect people on holiday in the summer months.
Related stories from around the North:
Canada: Canadian tourism organizations, including in North, decide to ‘pause’ marketing in China, CBC News
Finland: Bank of Finland downgrades economic forecast, Yle News
Norway: Beijing finds a Chinatown in Arctic Norway, The Independent Barents Observer
Russia: Chechnya tourism info center to open in Murmansk, The Independent Barents Observer
Sweden: Room for more spending in Swedish gov’s spring budget: economist, Radio Sweden
United States: When the ice melts, what will happen to Arctic tourism?, Cryopolitics Blog
