Australia $ Value, Economic Direction?

[TLCOhio]

I prefer to adopt a longer term view of the Aussie Dollar. The following graph for US currency is for the last 10 years. It is set up in a way that perhaps some will be unaccustomed to . Instead of showing what an Aussie dollar is "worth" -- it show how many Aussie dollars I would need to purchase a single US Dollar. Of course, these are the Inter-bank rates - and hence the currencies will cost me a little more than these rates show.

 

 

Appreciate this Aussie vs. U.S. dollars graph and added insights by Barry. From the Wall Street Journal this morning, they have this headline: "The Dollar is Poised for an Upward Explosion". Based on the latest WSJ data, the cost of an Aussie dollar is now down to 0.9731.

 

From this WSJ story here are some of the highlights relating to long-term dollar value versus other currencies: "The global hunt for yield is starting to look a bit crazy, with risk premium in bond markets falling to what now look like unsustainable levels. From a currency trader's perspective, that suggests that despite the dollar's recent gains against most of its major counterparts, it is still flat-out undervalued. When markets revert to the mean, safe-haven flows into the dollar will cause it to spike. In the U.S. economy, risk is now being transferred from borrowers to creditors. Risks have dropped dramatically for indebted households and corporations, which have used lower rates to refinance debt and clean up their balance sheets. The trigger could also be a security concern. Perhaps the increasingly complicated tensions in Syria prompt U.S. or Israeli military action, which then spooks investors worldwide. Either way, the outcome is the same: complacent investors are given a painful reminder of why they were foolish to ignore the risks in their portfolio. What is now a "dash for trash" by yield seekers will see investors "bashed by trash" as risk premiums rise. For currency traders, that will mean a much higher dollar as global investors return to U.S. Treasurys as the safest place to store their cash."

 

This story gets a little complicated and confusing for us "normal" folks to understand this economic talk, but the prediction and market seems to seek/value "safety" in an uncertain world for the future. By contrast, not that the U.S. economy is perfect and ideal, but our dollar will be stronger versus many other currencies in the view of this author. Good news for us right now in planning for our Jan.-Feb. travels in Australia and NZ.

 

Full WSJ story at:

http://online.wsj.com/article/SB10001424127887324082604578488910886614842.html

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 5,931 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

[TLCOhio]

In June of 2002, at a Fiji resort on the way to Australia an Aussie couple said "you'll just love Australia -- like America at half price" AND IT WAS. $25 Aussie dinner was just a little over US$12. Bet our upcoming NZ trip will not be the same. Anyway can't wait for New Zealand.

 

Interesting above comment was posted by this Maryland resident in the U.S. YES, lots has changed on currency values since 2002. Wish we could get things for half-price in early 2014. But, we'll enjoy, regardless on currency values.

 

From The Australian newspaper this morning, they have this headline: "Lock in Aussie dollar exchange rate before you travel, says expert" with these highlights: "Travellers should consider locking in exchange rates before they head overseas as the Australian dollar hit its lowest point in close to a year this week. National Australia Bank general manager of cards Michael Shurlin said putting spending money on travel cards in advance gave people certainty. 'You can do it months in advance or you can do it on the day you travel - it depends on your view of what will happen with the dollar.' The NAB Traveller Card allows travellers to lock in rates for up to ten currencies. The dollar hit a low of US95.94 cents on Thursday afternoon, the weakest level since early June last year."

 

There are two big unknowns from this article/suggestion. First, what does it cost to get such cards?? I'm sure it is not totally "free". Second, it is hard to know what will happen with the Aussie dollar in the coming months. Going down more?? Staying the same?? Hard to know that future direction for certain. Lots of variables and factors to consider!

 

Other reactions and suggestions on this card in advance idea?

 

Full story at:

http://www.theaustralian.com.au/travel/news/lock-in-aussie-dollar-exchange-rate-before-you-travel-says-expert/story-e6frg8ro-1226650562177

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 6,105 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

[Aus Traveller]

Interesting above comment was posted by this Maryland resident in the U.S. YES, lots has changed on currency values since 2002. Wish we could get things for half-price in early 2014. But, we'll enjoy, regardless on currency values.

 

From The Australian newspaper this morning, they have this headline: "Lock in Aussie dollar exchange rate before you travel, says expert" with these highlights: "Travellers should consider locking in exchange rates before they head overseas as the Australian dollar hit its lowest point in close to a year this week. National Australia Bank general manager of cards Michael Shurlin said putting spending money on travel cards in advance gave people certainty. 'You can do it months in advance or you can do it on the day you travel - it depends on your view of what will happen with the dollar.' The NAB Traveller Card allows travellers to lock in rates for up to ten currencies. The dollar hit a low of US95.94 cents on Thursday afternoon, the weakest level since early June last year."

 

There are two big unknowns from this article/suggestion. First, what does it cost to get such cards?? I'm sure it is not totally "free". Second, it is hard to know what will happen with the Aussie dollar in the coming months. Going down more?? Staying the same?? Hard to know that future direction for certain. Lots of variables and factors to consider!

 

Other reactions and suggestions on this card in advance idea?

 

Full story at:

http://www.theaustralian.com.au/travel/news/lock-in-aussie-dollar-exchange-rate-before-you-travel-says-expert/story-e6frg8ro-1226650562177

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 6,105 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

The question shouldn't be "What is the Aussie dollar doing", but "What is the Aussie doing in relation to the US dollar?" The AUD is doing OK against other currencies. I think the US$ has gone up in value.

[NSWP]

We international travellers want the AUD to go up against currencies like the USD, GBP !

 

Will be needing lots of both next year.

[Billy and Charlie's Mum]

We international travellers want the AUD to go up against currencies like the USD, GBP !

 

Will be needing lots of both next year.

 

Us too! I have every faith that the AU$ will bounce back... our economy is quite strong compared to the US economy. It is just a glitch until the election. Just my opinion! :D

[Kiwi Kruzer]

The question shouldn't be "What is the Aussie dollar doing", but "What is the Aussie doing in relation to the US dollar?" The AUD is doing OK against other currencies. I think the US$ has gone up in value.

 

 

Against others its dropping....even the NZ dollar is at a 4 year high against the $AU at the moment.

Its all to do with the future outlook.....

 

 

[icat2000]

Against others its dropping....even the NZ dollar is at a 4 year high against the $AU at the moment.

Its all to do with the future outlook.....

 

 

 

But the NZ dollar has lost ground against the Greenback as well. I believe it all relates to the weak economic data coming out of China and the markets in Oz are spooked a little. It probably settle down.

[TLCOhio]

The Aussie dollar is a speculative currency and it bounces around a lot for reasons unrelated to the local economy. So it was somewhat frustrating that in 2008 we were happy to have avoided a recession yet had to watch our dollar plunge. Money cards are not the cheapest way to buy money but they are fairly convenient. There are various fees involved and the exchange rate is often not the best. We have found the best way for us is to buy cash when the dollar is strong. We live near a part of Sydney where there are numerous money changing offices so it is easy to go and compare rates and buy. Keep in mind that we are a country with a population of only 23 million in a region with billions of people. What happens here is not really very important in the economic scheme of things, except to us, of course.

 

Appreciate this excellent follow-up background and very good insights that was posted on the Aust.-NZ board by a smart Aussie resident. Very helpful!! As of this morning, the Aussie dollar is at $0.9632 per this am's Wall Street Journal.

 

THANKS! Enjoy! Terry in Ohio

 

For details and visuals, etc., from our July 1-16, 2010, Norway Coast/Fjords/Arctic Circle cruise experience from Copenhagen on the Silver Cloud, check out this posting. This posting is now at 107,924 views.

http://www.boards.cruisecritic.com/showthread.php?t=1227923

[TLCOhio]

But the NZ dollar has lost ground against the Greenback as well. I believe it all relates to the weak economic data coming out of China and the markets in Oz are spooked a little. It probably settle down.

 

Yes, we are watching the NZ dollar, too! From the Wall Street Journal this morning, they have this headline: "New Zealand, China in Talks on Convertibility of Currencies" with these highlights: "Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible. Most of New Zealand's exports to China are agricultural products—particularly milk powder, meat and wool—while most of its imports from there are computers, mobile phones and clothes. Wellington's push is aimed at driving down costs for companies that do business with China, which is close to overtaking Australia as New Zealand's No. 1 trading partner. Direct convertibility between the Chinese yuan and New Zealand dollar would end the need for New Zealand's companies and currency traders to convert New Zealand dollars or yuan into U.S. dollars when making or receiving payments. New Zealand's two-way trade with China totaled 15.3 billion New Zealand dollars (US$12.4 billion) in the year ended April 30, compared with NZ$16.8 billion with Australia. Trade relations took a knock earlier this month when China temporarily blocked millions of dollars of New Zealand meat from entering the country, as it bolstered scrutiny of imports after a spate of mainly homegrown food-safety scandals. Beijing is undertaking a long, gradual campaign to establish the yuan as a more market-oriented, international currency. China and Australia reached a deal to allow direct convertibility between the yuan and Australian dollar last month. As China has become more industrialized, it has become Australia's biggest trading partner and buyer of its commodities, including raw materials such as copper and iron ore."

 

As of today, we have 238 days or a little under eight months until boarding our Jan. 20-Feb. 3, 2014, Solstice adventure. Lots of time to see how these economic events with China, etc., affect the currency values in both Australia and NZ.

 

Full story at:

http://online.wsj.com/article/SB10001424127887323855804578506383781598470.html?mod=WSJ_hp_LEFTWhatsNewsCollection

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 6,132 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

[Aus Traveller]

Yes, we are watching the NZ dollar, too! From the Wall Street Journal this morning, they have this headline: "New Zealand, China in Talks on Convertibility of Currencies" with these highlights: "Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible. Most of New Zealand's exports to China are agricultural products—particularly milk powder, meat and wool—while most of its imports from there are computers, mobile phones and clothes. Wellington's push is aimed at driving down costs for companies that do business with China, which is close to overtaking Australia as New Zealand's No. 1 trading partner. Direct convertibility between the Chinese yuan and New Zealand dollar would end the need for New Zealand's companies and currency traders to convert New Zealand dollars or yuan into U.S. dollars when making or receiving payments. New Zealand's two-way trade with China totaled 15.3 billion New Zealand dollars (US$12.4 billion) in the year ended April 30, compared with NZ$16.8 billion with Australia. Trade relations took a knock earlier this month when China temporarily blocked millions of dollars of New Zealand meat from entering the country, as it bolstered scrutiny of imports after a spate of mainly homegrown food-safety scandals. Beijing is undertaking a long, gradual campaign to establish the yuan as a more market-oriented, international currency. China and Australia reached a deal to allow direct convertibility between the yuan and Australian dollar last month. As China has become more industrialized, it has become Australia's biggest trading partner and buyer of its commodities, including raw materials such as copper and iron ore."

 

As of today, we have 238 days or a little under eight months until boarding our Jan. 20-Feb. 3, 2014, Solstice adventure. Lots of time to see how these economic events with China, etc., affect the currency values in both Australia and NZ.

 

THANKS! Enjoy! Terry in Ohio

 

 

I don't think this will affect the rate at which you can buy any currency. This measure is aimed at business. When I ran a company and imported from Japan and China, the contract was written in US dollars and the currency had to be converted twice. The price the supplier quoted had to have a margin built in to cover them for fluctuations of the US $, then I would sometimes be caught because the AUD dropped compared with the US$. The end result was that the goods cost me more and the banks made more mney.

Edited May 27, 2013 by Aus Traveller

[NSWP]

Against others its dropping....even the NZ dollar is at a 4 year high against the $AU at the moment.

Its all to do with the future outlook.....

 

 

David, enjoy it while you can, the might Aussie dollar will soon be back at 1.25 to the NZD and parity with the USD. Believe Uncle Les.

 

Now if it does not bounce back, well I will just have to drink Dewars scotch on the ships next year instead of my usual Chivas Regal. The Boss will have to forgo her Mojitos and have a Chilean Sauv Blanc. LOL.

Edited May 28, 2013 by NSWP

[MicCanberra]

David, enjoy it while you can, the might Aussie dollar will soon be back at 1.25 to the NZD and parity with the USD. Believe Uncle Les.

 

Now if it does not bounce back, well I will just have to drink Dewars scotch on the ships next year instead of my usual Chivas Regal. The Boss will have to forgo her Mojitos and have a Chilean Sauv Blanc. LOL.

At least we are not back to drinking tap water yet. :D

[rugbypopsie]

I believe!!! Actually the dollar is still way way above its usual rate. We locked in our next years cruise by paying off the balance now..(was in USD)..only a little bit ouchy...if our dollar goes up then I will stockpile some for another cruise..

 

I would be happy if we appreciated against the NZ$ before next November's cruise please.

 

Sue

[MicCanberra]

I believe!!! Actually the dollar is still way way above its usual rate. We locked in our next years cruise by paying off the balance now..(was in USD)..only a little bit ouchy...if our dollar goes up then I will stockpile some for another cruise..

 

I would be happy if we appreciated against the NZ$ before next November's cruise please.

 

Sue

Well its a good plan, only time will tell if it is a great plan or not so good plan.:D

[TLCOhio]

From The Australian newspaper this morning based on Wall Street Journal reporting, they have this headline: "Aussie dollar's time in the sun is fading fast" with these highlights/comments: "The Aussie dollar is finding out who its friends are. After the halcyon days of 2011 and 2012 when the high-yielding currency appeared to shed its role as a global risk proxy, the Aussie is reverting to its status as a whipping boy for traders. From London to Sydney analysts are rushing to tell clients that the Aussie, the world’s fourth-most traded currency, has only just begun its downward spiral. Not content with a 6 per cent sell-off against the greenback since the start of May, bearish analysts argue that a recovering US economy, falling interest rates in Australia and a slowing China bode ill for the trades that fueled the Aussie’s ascent. In the view of Stephen Jen, a partner at London-based SLJ Macro Partners, the Aussie dollar ranks alongside emerging market currencies as being in 'grave danger' of a big correction lower. Mr Jen is far from alone. One of Sydney’s best known brokers, Bell Potter’s Charlie Aitken, also chimed in Wednesday. He believes his year-end target of $US0.9200 will be hit very quickly and give way to a level somewhere above $US0.8000. 'The Australian dollar has been one of the most obvious bubbles in the financial world,' he argues in a note. 'I remain of the view that this Australian dollar correction will get disorderly.' Deutsche Bank, the global FX 'flows monster', said those remarks were 'worthy of note'. Some of the world's other major investment banks, including Goldman Sachs and UBS, are increasingly confident the Aussie remains a sell. For a currency that last week had the ignominy of being compared with the Syrian pound, the Aussie dollar’s moment in the sun is fading. Fast."

 

From CNBC news last night, they have this headline: "The Aussie Dollar Just Can’t Catch a Break" with these highlights: "Just as the Australian dollar attempted to make a concerted rebound against the U.S. dollar this week, the prospect of further monetary easing in Australia has provided traders with another reason to dump the currency. The Reserve Bank of Australia (RBA) on Tuesday left its key interest rate unchanged but maintained an easing bias. That prompted the Aussie to give up an overnight gain of 2 percent against the dollar. On Wednesday it hit a session low of $0.9603 after weaker-than-expected Australian economic growth data, moving within sight of a 19-month low hit last month. Ray Attrill, co-head of foreign exchange strategy at National Australia Bank said 'It is still the whipping boy of the currency market.' "

 

In just checking the Wall St. Journal this afternoon, the Aussie dollar was down to $.9538.

 

Full stories at:

http://www.theaustralian.com.au/business/wall-street-journal/aussie-dollars-time-in-the-sun-is-fading-fast/story-fnay3vxj-1226657936044

http://www.cnbc.com/id/100790133

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 131,972 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

[MicCanberra]

Yep, Aussies with US TAs, time to pay off your cruises in full.:D

[TLCOhio]

It will be extremely beneficial to the country if the dollar slides further. I think that about 80cents is regarded as a good level. At the end of the day, overseas travel is more of a luxury whereas a strong local economy is much more important.

 

Mothballs: I agree Karenella. I have a friend that works in the manufacturing industry and all the workers have been asked to take a day off without pay each week until things pick up. It is OK for my friend as she is older and owns her own home but the younger people have mortgages to pay. I bought a whole lot of US currency when it was $1.06 and $1.09.So much that my husband was wondering where all the savings had gone!

Regards Elaine.

 

Globaliser: Exactly. The idea that "highly-valued currency = good"' date=' or that "lowly-valued currency = ignominy", ignores economic reality. I think that somewhere earlier on the thread I might have said Hallelujah! [/quote']

 

Appreciate the added thoughts, comments and reactions from above that were posted on the Aust-NZ board. First two from those living in Australia. Globaliser from London. Clearly, economics is an interesting and changing "science". Hard to know and predict these trends, shifts. Lots depends on your own self-interest. Long-term and short-term. Personally, I like gaining these various items of info for how the economy works and plays out in our various part of the world. Never static and/or boring!!

 

From The Australian newspaper in the last three hours, they have this headline: "Aussie dollar dives below US95c amid US stimulus worries" with these highlights: "Falls have been forecast for the Australian dollar, which yesterday dived below the US95c mark to levels not seen since October 2011. Speculation that the US Federal Reserve will begin to slow its monetary stimulus sooner than expected, together with this week's weaker than expected gross domestic product data, saw the local currency fall to a low of US94.35c yesterday afternoon. The Australian dollar was the worst performer of all the G10 currencies yesterday, continuing its poor standing over the last week. The dollar has lost about 8 per cent since the start of last month. There were longer-term forecasts of more sustained declines of the Australian dollar to about US90c by the end of next year and US85c by the end of 2015. Concern that the US central bank would start 'tapering' stimulus sooner than anticipated was one of the drivers of this week's fall in the Aussie dollar. HSBC says the local currency is likely to fall further, reaching US90c by year's end and about US85c by the middle of 2014."

 

From The Age newspaper in Melbourne today, they have this headline: "What the sliding Aussie dollar means for travellers" with these highlights: "The Australian dollar is finally on the slide. In late March, one Aussie dollar would fetch about $US1.02 from an ATM in the US, or 80 euro cents. Two months later that same dollar would get you just 96 US cents, or 74 euro cents. Over that period, your purchasing power has dropped by about 6 per cent against both currencies. Where the dollar goes from here nobody really knows. If you believe this is the start of a long decline and you have an overseas trip on the horizon, you might decide to lock in at the current rate by buying foreign currency notes or traveller's cheques. You might consider a prepaid currency card. The Travelex Cash Passport (travelex.com.au), ANZ Travel Card (anztravelcard.com) and the Commonwealth Bank Travel Money Card (commbank.com.au) are among the leading candidates."

 

The Sydney Morning Herald had the headline today of "Markets Live: Dollar 'massacred' ".

 

Most of our travel costs are in U.S. dollars to Celebrity cruises, the "free" air flights with American Airlines frequent flyer miles, etc. There will be costs in Aussie and NZ dollars, but it is unclear now whether it would be smart or dumb to pay some of these cost ahead and maybe score a little gain or loss. I'm going to sit and wait.

 

Full stories at:

http://www.theaustralian.com.au/business/markets/aussie-dollar-dives-below-us95c-amid-us-stimulus-worries/story-e6frg916-1226658961468

http://www.theage.com.au/travel/what-the-sliding-aussie-dollar-means-for-travellers-20130530-2nd04.html

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 6,754 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

[icat2000]

I don't worry about the Australian dollar. It was luxury having it at parity and above. Like another poster said it really need to be a bit lower to help exporters in this country.

 

Most of us have travelled when it was much much lower.

 

Back in 2000 I travelled to the USA. I was in New Zealand at the time and I went there for five weeks. At that time $1 NZ dollar got me 30c US. You adjust. I think it says more about how much the US economy has slumped over the years.

Edited June 6, 2013 by icat2000

[NSWP]

I don't worry about the Australian dollar. It was luxury having it at parity and above. Like another poster said it really need to be a bit lower to help exporters in this country.

 

Most of us have travelled when it was much much lower.

 

Back in 2000 I travelled to the USA. I was in New Zealand at the time and I went there for five weeks. At that time $1 NZ dollar got me 30c US. You adjust. I think it says more about how much the US economy has slumped over the years.

Exactly, does not really worry me, my cruises and airfares are in AUD. What I will be spending overseas next year will just be trimmed a little, like I have cancelled the Rolls Royce rental car in UK and replaced it with a Goggomobile. And instead of 5 star Hilton's, it will be Travelodge or Days Inn's. I remember our first trip to UK in 1997: 1 Australian dollar = 37 GB Pence. Now that is sad.

Edited June 7, 2013 by NSWP

[TLCOhio]

Appreciate the additional sharing, insights that have been expressed here. Always love learning more about this part of the fascinating world where we have not visited. Lots of Europe, but never, yet, to Australia, NZ, China, etc.

 

From the Sydney Morning Herald Thursday morning, they have this headline: "What rich Chinese tourists want - and where they're going to get it" with these highlights: "Rich Chinese tourists are likely to own three cars and four watches and their leisure preferences after travelling include reading, tea-tasting, driving and spending time with family. Their favourite hotel chain is the Shangri-La and when they shop – which is often – they clamour for high-end French brands such as Louis Vuitton, Hermes, Chanel, and Cartier. No wonder, then, that France is at the top of their list of preferred overseas luxury destinations. The report says there are 600 billionaires in China and 2.8 million millionaires, measured in US dollars. They are helping drive the top end of the tourist market which last year hit an overall 83 million outbound trips from China. That figure is projected to rise to a staggering 94 million this year, the most travel of any country. This week's report reiterates research released earlier in the year that Australia is slipping down the rankings as a preferred luxury destination for the wealthy Chinese. France, the US, Singapore, Switzerland, the UK and Italy are all ahead of Australia, which has dropped from third to seventh place, falling out of the top three where it had been for three years. Hurun Report chairman Rupert Hoogewerf told Fairfax Media that Australia has done 'amazingly well' for Chinese tourists but it is now being overtaken in the luxury field. 'Ten years ago it was the preferred destination for Chinese tourists, full stop. But what's happened, as other countries have come up (such as the US and Switzerland), Australia has dropped down the list for luxury travel,' said the Shanghai-based Mr Hoogewerf. Tourism Australia Managing Director Andrew McEvoy said 'China is now our fastest growing visitor market, recently having overtaking the UK as our second largest source of international visitors. The Chinese are our highest spending visitor market. We know from our research that the Chinese love to shop and we're certainly not seeing any signs of this appetite, and particularly for luxury goods, waning." "

 

From this and other stories, France, Europe and California are more attractive locations for this high-end shopping by those in China than being in Australia and NZ. It will be interesting when down under in early 2014 to see how these various demographic impacts with growing China traveler numbers impacting the mix of visitors and shoppers. Personally (and fortunately for my wallet), shopping is not that much my "thing". I like to take pictures of great sights, unique architecture and locations, etc. That's much, much cheaper than too much shopping. Other, including my wife, might view shopping and those types of things differently.

 

Full story at:

http://www.smh.com.au/travel/travel-news/what-rich-chinese-tourists-want--and-where-theyre-going-to-get-it-20130606-2nryx.html

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 132,145 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

[Jacs]

If course Europe and the US are more appealing destinations for luxury shopping, things are cheaper there. People don't visit Australia for the shopping, they visit for the location and unique experiences available here.

 

I honestly find these kind of news reports useless. I've never noticed a change in tourism patterns, and a few more or less tourists from Asia is not going to be noticeable, particularly to another tourist who has never been here and doesn't know what to expect. We have a healthy Asian population here that are permanent residents, you won't know if they are tourists or not.

 

Honestly, stop over thinking it, so much can happen in the next 8 months, good bad or indifferent, that any news reports you read now could be irrelevant come January. Just research what you want to do here, get excited, then come here and just ENJOY Australia for the wonderful country that it is.

[TLCOhio]

People don't visit Australia for the shopping, they visit for the location and unique experiences available here. I've never noticed a change in tourism patterns, and a few more or less tourists from Asia is not going to be noticeable, particularly to another tourist who has never been here and doesn't know what to expect. We have a healthy Asian population here that are permanent residents, you won't know if they are tourists or not. Honestly, stop over thinking it, so much can happen in the next 8 months, good bad or indifferent, that any news reports you read now could be irrelevant come January. Just research what you want to do here, get excited, then come here and just ENJOY Australia for the wonderful country that it is.

 

From our friend in Melbourne, you have summarized many key points very, very well. YES, agree that the location, scenery, nature, wildlife, etc., are the key points, priorities and needs in visiting down under. Not shopping!! Don't worry about me over-thinking things. Just like to research and learn more. All very helpful and interesting. Keep the good insights flowing!!

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 6,815 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

Edited June 8, 2013 by TLCOhio

[MicCanberra]

Personally, I think if you look closely enough (clothes nad behaviour), you can nearly always pick out who is local and who is a tourist. That said, Australia is very multicultural and therefore make it a little bit harder to work out.:D

[The_Big_M]

I think that they would need to drop some prices to attract Aussies if it drops too far. That said, I don't think it will drop too much more (hope it doesn't anyway) .:D

 

Yes, would be interesting. I would expect a few less local cruisers, somewhat lower prices, and fewer overseas ships visiting.

[MicCanberra]

Yes, would be interesting. I would expect a few less local cruisers, somewhat lower prices, and fewer overseas ships visiting.

There is always trade offs with the dollar's movement.:D