- January 6, 2017
As the economic situation in Europe worsens, it might be worth assessing what the impact of all this might be on your Gulf Coast-based business.
After all, European visitors account for a substantial part of the Gulf Coast's summer tourism season. Europeans spend more time and money here than domestic visitors, tourism officials say.
It's not just hoteliers who might feel the pinch. Realtors, bankers and retailers could suffer drops in business if Europeans hunker down in their native countries.
In a recent online survey by the Business Review, 65% of respondents said they expect the European financial crisis will affect their business. And a report in May by Florida TaxWatch warns that the currency crisis could discourage Europeans from investing in Florida or buying Florida exports.
Until now, the euro and British and Scandinavian currencies have made the U.S. dollar relatively cheap. But that could change quickly.