Articles tagged “currency”

Tourism

Weak Yen Drives Japan’s Record-Breaking Tourist Arrivals

The depreciation of the Japanese yen against major currencies, particularly the U.S. dollar, has played a pivotal role in driving unprecedented levels of tourist arrivals to Japan.

Weak Yen Drives Japan’s Record-Breaking Tourist Arrivals

News Blog

Croatia Will Join Border-Free Schengen Area in 2023

Croatia will be joining the Schengen area in the new year. Starting January 1, travelers will be able to move passport-free between Croatia and the 26 member countries that make up the Schengen area. The Schengen area comprises a pact between countries to remove border controls for those traveling between their territories. Croatia received unanimous…

News Blog

Booking.com to Test Guest ID Verification and Payment Alternatives for Foreign Purchases

Booking Holdings is hiring rapidly at its new engineering office in Bengaluru, India, to work on new projects such as how to verify guest identification with machine learning and new products such as alternative forms of international payment to traditional credit and debit cards. The parent company of Booking.com has about 20 employees at its…

News Blog

Strong Dollar May Be Headwind for U.S. Luxury Hotels

The U.S. dollar has appreciated relative to major currencies such as the euro, pound, and yen, and that dynamic has been changing travel patterns. American tourists enjoy enhanced buying power in Europe and Japan, while many foreign visitors find the U.S. off-puttingly expensive. Look at U.S. government data to see the pattern. September data from…

News Blog

Strong Dollar Is Shifting Tourism Patterns Between the U.S. and Europe

The U.S. dollar has appreciated in value relative to major currencies such as the euro, pound, and yen, and enhanced buying power for American tourists has been changing travel patterns. In late September, the British pound was worth as little as $1.035, "the closest the pound and dollar had ever come to parity," according to…

News Blog

UK Tops European Hotspot List for U.S. Travelers

American tourists are flocking to the UK over other European destinations, new data shows. Post-Covid pent-up demand has collided with the strong dollar, according to the latest figures from travel agency Trip.com, with a 678 percent surge in searches for U.S. to UK flights in the first six months of 2022, compared to the same…

News Blog

Strong U.S. Dollar Prompts American Visitors to Europe to Splurge

American tourists to Europe have more buying power than usual, which means that the dollar can buy 15 percent more than a year ago. Visitors are spending on everything from wine to handbags. Here are some interesting statistics from The Wall Street Journal on Monday: "Overall, travelers from the U.S.┬áspent 56% more money in Europe…

Startups

Groups360 Raises $35 Million for Meeting Planning: Travel Startup Funding This Week

This week, travel startups Groups360 and Amenitiz announced more than $65 million in funding.

Groups360 Raises $35 Million for Meeting Planning: Travel Startup Funding This Week

Tourism

Visit Mexico to Tout Digital Wallet as Unofficial Loyalty Program

It's not obvious the world needs another payment method. But a points-based loyalty program tied to the new debit card may give Visit Mexico a tool to steer travelers to suppliers and locations that most need visitors. The idea is intriguing.

Visit Mexico to Tout Digital Wallet as Unofficial Loyalty Program

Online Travel

Amadeus Taps Citibank as Partner for New Currency Exchange Tool for Travel Companies

Much of the travel industry uses currency pricing tools that haven't advanced much in a decade. The sector will welcome any new tools that can genuinely cut complexity, time, and costs during the ongoing revenue crisis. Enter Amadeus.

Amadeus Taps Citibank as Partner for New Currency Exchange Tool for Travel Companies