The Falling Dollar Makes the U.S. a Steal for Foreign Tourists

Nov. 20, 2007 — -- Record numbers of Europeans are flocking to New York this fall -- prime holiday shopping season -- as the dollar sinks to new lows against the euro and British pound.New York expects roughly 1 million western Europeans this month and December, 5% more than last year, says George Fertitta, CEO of tourism agency NYC & Co. Helping to boost Big Apple tourism: killer deals on merchandise because of an exchange rate that favors euros and pounds.

"A new class of Europeans are coming to America totally because of currency," says George Malkemus, president of luxury shoe retailer Manolo Blahnik USA.