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Reply to "Farewell Charming Olde New York, part 4"

http://cityroom.blogs.nytimes.com/2008/04/16/how-foreig...ocal-economy-afloat/


NYC & Company, the city's tourism marketing agency, estimated that foreign visitors spent about $560 million more in the first three months of 2008 than in the first quarter of 2007, an increase of 7 percent.

One of the main reasons is that the dollar is so weak against the euro and other currencies that everything in New York appears to be on sale.

The Modern, the restaurant at the Museum of Modern Art, added the euro equivalent to prices on the wine list to impress upon tourists what bargains the bottles were. It worked: the restaurant says it now sells more (and more expensive) bottles of wine.

(there is a longer article about this in the paper NY TImes today, the influx is so enormous the economy is NY is skewed differently from any other US city. Doesn't have much to say about effects on culture but I'm sure many could cue in on the trickle down effect of 1,000,000 more European tourists in NY in the first quarter of 2008 than in the first quarter of 2007.

Like I've said before Americans' money did it to Europe from the 1900s - on. Now it's New York's turn.)
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