Canadian visitors top Visa card purchases in U.S – Dominion Lending Centres Clearlease
TORONTO – (April 26, 2011) Clearlease.com Reports Canadians were last year’s top foreign users of Visa credit cards in the United States at $9 billion US, a healthy increase over the previous year, the company said Monday.
The survey by Visa shows that Canadian holders of the card increased spending in the U.S. by 18 per cent to $9.2 billion in 2010, up from $7.8 billion in 2009.
This is the third consecutive year that Canadian Visa holders have topped the chart.
“Canadian tourists continue to have a positive impact on the U.S. tourism economy. The strong willingness and desire of Canadians to travel across the southern border reinforces the importance of the North American tourism industry to the region’s continued economic growth,” William Sheedy, a group president for Visa Inc., said in a release.
Spending in the U.S. by United Kingdom visitors rose 11 per cent to $2.5 billion, and people from Mexico increased their buying by 18 per cent to $2 billion. Consumers from Japan increased spending six per cent to $1.8 billion, and Chinese card holders’ purchases soared 64 per cent to $1.1 billion.
The spike in Canadian tourists flocking across the border comes as the Canadian dollar flirts with multi-year highs. The loonie was at 104.67 cents to the U.S. dollar Monday, after touching a 3½-year high of 105.29 cents last week, its highest level since November 2007.
The high Canadian dollar versus the greenback gives Canadians more buying clout and prompts them to flock across the border to buy everything from gasoline and groceries, to electronics and running shoes.
Over the holiday long weekend, customs officials reported long lineups at border crossings in Southern Ontario as Canadians took advantage of the attractive exchange rates.
The Visa report showed Canadians made $1.7 billion worth of transactions at bank machines, money transfers and other financial institutions, a rise of nine per cent from 2009, while spending the same amount at jewelry stores, bookstores and other specialty retail stores. This accounted for a 24 per cent hike year-over-year.
Card holders also spent $1.6 billion in lodging, up 16 per cent from the previous year, $343 million in grocery stores and $407 million on oil.
Visa’s report comes on the heels of a Bank of Montreal study earlier this month that showed fashionable U.S. goods, such as mobile devices and books, are on average more than 20 per cent more expensive in Canada than in the U.S. despite the price gap of the Canadian currency, which has gained 30 per cent in value compared with the U.S. greenback since 2009.
Some analysts see the loonie climbing higher to near the $1.09 level by the end of next year as it continues its “slow, steady” appreciation.
Camilla Sutton, a currency strategist at Scotia Capital, said in a report earlier this month that she sees the loonie topping out at $1.05 by the end of this year and $1.09 by the end of 2012 helped by a soft U.S. dollar and strong oil prices.
The loonie has benefited from a weak U.S. dollar amid worries over the stability of the economy and red-hot commodity prices.
Last week, Standard & Poor’s Ratings Service lowered its long-term outlook for the United States’ sovereign debt to “negative” from “stable” due to risks from the country’s growing deficit and lawmakers’ failure on how to deal with it.
It cited a “material risk” that politicians would fail to agree on how to cut the budget deficit over the medium term, saying the U.S. has “very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
VANCOUVER, BRITISH COLUMBIA – (April 26, 2011) Clearlease.com Reports Canadians were last year’s top foreign users of Visa credit cards in the United States at $9 billion US, a healthy increase over the previous year, the company said Monday.
The survey by Visa shows that Canadian holders of the card increased spending in the U.S. by 18 per cent to $9.2 billion in 2010, up from $7.8 billion in 2009.
This is the third consecutive year that Canadian Visa holders have topped the chart.
“Canadian tourists continue to have a positive impact on the U.S. tourism economy. The strong willingness and desire of Canadians to travel across the southern border reinforces the importance of the North American tourism industry to the region’s continued economic growth,” William Sheedy, a group president for Visa Inc., said in a release.
Spending in the U.S. by United Kingdom visitors rose 11 per cent to $2.5 billion, and people from Mexico increased their buying by 18 per cent to $2 billion. Consumers from Japan increased spending six per cent to $1.8 billion, and Chinese card holders’ purchases soared 64 per cent to $1.1 billion.
The spike in Canadian tourists flocking across the border comes as the Canadian dollar flirts with multi-year highs. The loonie was at 104.67 cents to the U.S. dollar Monday, after touching a 3½-year high of 105.29 cents last week, its highest level since November 2007.
The high Canadian dollar versus the greenback gives Canadians more buying clout and prompts them to flock across the border to buy everything from gasoline and groceries, to electronics and running shoes.
Over the holiday long weekend, customs officials reported long lineups at border crossings in Southern Ontario as Canadians took advantage of the attractive exchange rates.
The Visa report showed Canadians made $1.7 billion worth of transactions at bank machines, money transfers and other financial institutions, a rise of nine per cent from 2009, while spending the same amount at jewelry stores, bookstores and other specialty retail stores. This accounted for a 24 per cent hike year-over-year.
Card holders also spent $1.6 billion in lodging, up 16 per cent from the previous year, $343 million in grocery stores and $407 million on oil.
Visa’s report comes on the heels of a Bank of Montreal study earlier this month that showed fashionable U.S. goods, such as mobile devices and books, are on average more than 20 per cent more expensive in Canada than in the U.S. despite the price gap of the Canadian currency, which has gained 30 per cent in value compared with the U.S. greenback since 2009.
Some analysts see the loonie climbing higher to near the $1.09 level by the end of next year as it continues its “slow, steady” appreciation.
Camilla Sutton, a currency strategist at Scotia Capital, said in a report earlier this month that she sees the loonie topping out at $1.05 by the end of this year and $1.09 by the end of 2012 helped by a soft U.S. dollar and strong oil prices.
The loonie has benefited from a weak U.S. dollar amid worries over the stability of the economy and red-hot commodity prices.
Last week, Standard & Poor’s Ratings Service lowered its long-term outlook for the United States’ sovereign debt to “negative” from “stable” due to risks from the country’s growing deficit and lawmakers’ failure on how to deal with it.
It cited a “material risk” that politicians would fail to agree on how to cut the budget deficit over the medium term, saying the U.S. has “very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Canadian visitors top Visa card purchases in U.S – Dominion Lending Centres Clearlease
TORONTO – (April 26, 2011) Clearlease.com Reports Canadians were last year’s top foreign users of Visa credit cards in the United States at $9 billion US, a healthy increase over the previous year, the company said Monday.
The survey by Visa shows that Canadian holders of the card increased spending in the U.S. by 18 per cent to $9.2 billion in 2010, up from $7.8 billion in 2009.
This is the third consecutive year that Canadian Visa holders have topped the chart.
“Canadian tourists continue to have a positive impact on the U.S. tourism economy. The strong willingness and desire of Canadians to travel across the southern border reinforces the importance of the North American tourism industry to the region’s continued economic growth,” William Sheedy, a group president for Visa Inc., said in a release.
Spending in the U.S. by United Kingdom visitors rose 11 per cent to $2.5 billion, and people from Mexico increased their buying by 18 per cent to $2 billion. Consumers from Japan increased spending six per cent to $1.8 billion, and Chinese card holders’ purchases soared 64 per cent to $1.1 billion.
The spike in Canadian tourists flocking across the border comes as the Canadian dollar flirts with multi-year highs. The loonie was at 104.67 cents to the U.S. dollar Monday, after touching a 3½-year high of 105.29 cents last week, its highest level since November 2007.
The high Canadian dollar versus the greenback gives Canadians more buying clout and prompts them to flock across the border to buy everything from gasoline and groceries, to electronics and running shoes.
Over the holiday long weekend, customs officials reported long lineups at border crossings in Southern Ontario as Canadians took advantage of the attractive exchange rates.
The Visa report showed Canadians made $1.7 billion worth of transactions at bank machines, money transfers and other financial institutions, a rise of nine per cent from 2009, while spending the same amount at jewelry stores, bookstores and other specialty retail stores. This accounted for a 24 per cent hike year-over-year.
Card holders also spent $1.6 billion in lodging, up 16 per cent from the previous year, $343 million in grocery stores and $407 million on oil.
Visa’s report comes on the heels of a Bank of Montreal study earlier this month that showed fashionable U.S. goods, such as mobile devices and books, are on average more than 20 per cent more expensive in Canada than in the U.S. despite the price gap of the Canadian currency, which has gained 30 per cent in value compared with the U.S. greenback since 2009.
Some analysts see the loonie climbing higher to near the $1.09 level by the end of next year as it continues its “slow, steady” appreciation.
Camilla Sutton, a currency strategist at Scotia Capital, said in a report earlier this month that she sees the loonie topping out at $1.05 by the end of this year and $1.09 by the end of 2012 helped by a soft U.S. dollar and strong oil prices.
The loonie has benefited from a weak U.S. dollar amid worries over the stability of the economy and red-hot commodity prices.
Last week, Standard & Poor’s Ratings Service lowered its long-term outlook for the United States’ sovereign debt to “negative” from “stable” due to risks from the country’s growing deficit and lawmakers’ failure on how to deal with it.
It cited a “material risk” that politicians would fail to agree on how to cut the budget deficit over the medium term, saying the U.S. has “very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###