With galloping inflation currently raging in the United States and the fall of the Canadian currency, snowbirds are going to have their wallets stretched this winter during their stay in Florida or other warm American states.
When we combine the 8.3% rise in the US consumer price index with the 8.7% drop in the Canadian dollar against the US dollar, this suggests that the snowbird will see its “winter” bill climb. at least 18% compared to what it would have cost him last winter.
For every US$10,000 of expenses, our “wintering tourist”, “wintering traveler” or “migrant retiree”, as the Office québécois of the French language, will have to pay an additional CA$1,800.
This is the minimum additional cost to pay to spend the winter warm!
- Listen to Michel Girard’s economic editorial broadcast live every day at 7:35 a.m. at :
CONSOLATION
Snowbirds will still find something to console themselves by saying that in any case, consumer prices have also increased significantly in Quebec.
As the wintering neighbor says: “Basically, apart from the loss of value of the Canadian dollar, it’s almost the same!” »
Not sure, especially not this year.
DEVASTATION
With the recent devastation of several areas of Florida following the catastrophic strikes of Hurricane Ian, there are many unknowns, such as:
What about the state of the rental housing stock?
Will rental costs soar as a result of the renovations?
Is there a product shortage?
Will the cost of travel insurance increase?
When will the beaches get a makeover?
Are we really welcome in this period of reconstruction?
THE GOOD YEARS…
In short, we are far from the good years.
Year after year, there are approximately 900,000 Canadian snowbirds, including 250,000 Quebecers, who spend much of the winter in Florida and the southern states of the United States.
We therefore represent a large “market” for these Americans.
When they said to us: ”Welcome to our Canadian neighbors”, it was financially sincere!
Of course, due to the COVID-19 pandemic and sanitary restrictions, very few Canadian snowbirds were able to spend the winter of 2021-2022 in the southern United States.
With the lifting of COVID-19 health restrictions, Canadian snowbirds thought they would return to their “good winter habits” as winter 2022-2023 approaches.
- Listen to Michel Girard’s economic editorial broadcast live every day at 7:35 a.m. at :
BUT…
Given the devastation of several regions of Florida, galloping inflation and the low-flying Canadian loonie, winter promises to be costly and difficult south of the border.
To address this rising cost, travel experts expect many snowbirds to take shorter stays, such as three months instead of four or five months.
Another possible solution to counter our winter: opt for more financially affordable destinations, such as Mexico, Costa Rica, the Dominican Republic and Cuba for example.
And caution requires: travel insurance with that!