The falling Canadian dollar – what does it mean for incentive travel and meetings outside of Canada?

Canadian MoneyOur poor Canadian dollar hit a four year low in 2014, compared to our American friends. What does that mean for the corporate travel industry? We have all seen the ups and downs of currency and exchange rates before, it just means we will need to be creative and look at how to better use our dollars. Here are a few suggestions on how you can help reduce some costs:

  • Keep your conference and meeting travel within Canada, this way you won’t have to worry about fluctuating exchange rates.
  • If you usually spread out your meeting over a few half-day sessions, condense it to maybe one full day, this way you are reducing your accommodation, food & beverage, AV rental and labour.
  • Instead of printing out physical communication such as destination information and speaker bios, this can all be done on an event app. This also saves on waste.
  • Look at using local entertainment. This will highlight your destination’s talent, and save on travel expenses.

It is also more reason for other countries to come to Canada and use our services, pumping money into our economy. As professionals in this industry, it is our job to change with the times and continue to be creative with our clients’ best interest in mind.

For more ideas on Canadian destinations, or creative ideas on how to make your Canadian dollars stretch further, contact Dragonfly Meeting Solutions Inc.

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