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ph: 604-688-2398 fx: 604-688-1963
CAN'T FIND SOMETHING? |
Business in Vancouver November 13-19, 2007; issue 942 British Columbians set to flex new-found currency muscle, according to poll BIV-Ipsos Reid survey finds locals set to get some bang from their bucks south of the border Andrew Petrozzi British Columbians are enthusiastically embracing the surge in the Canadian dollar’s value, according to an exclusive BIV poll conducted by Ipsos Reid. That enthusiasm has them increasingly looking south at U.S. investments such as property and stocks. And while they also see the dollar’s strength as being hard on Canadian businesses, most don’t want the government taking any action to reverse the loonie’s upward spiral. According to the Ipsos Reid poll of just over 650 British Columbians: • 54% of respondents said the rise in the Canadian dollar has had a positive impact on them personally; only 10% said the rise has had a negative impact; • 88% said the strong dollar is positive for Canadian consumers; 72% said it was negative for American consumers; • 58% of respondents felt the impact on Canadian businesses was negative; only 58% saw the dollar’s rise as being positive for the country; 21% viewed it as being negative. In comparison, 57% of respondents felt the impact on the U.S. was negative; only 13% saw it as being positive; • 48% of respondents predicted the dollar could only reach between US$1.05 and US$1.09 within the next three months (it has since broken through the US$1.10 mark); only 23% of respondents saw the dollar trading between US$1.10 and US$1.19; and just 4% thought it could exceed US$1.20; • 7% said the dollar would drop to US$0.95 and US$1.02 within the next three months; • 63% indicated they’re now more likely to vacation in the U.S.; • 15% said they’re more likely to invest in U.S. stocks, and 13% said they would be more likely to buy property in the U.S.; • 62% told pollsters they’re more likely to shop in the U.S.; only 5% said they would be less likely to shop south of the border; • 44% pointed to high spending by the U.S. government and a Canadian government budget surplus as the main reasons for the Canadian-U.S. exchange rate changes; 25% chalked it up to a rise in commodity prices; • 78% felt the federal government should take no action to reverse the rise of the Canadian dollar; only 12% believed the government should step in. Complete poll results can be found on the Business in Vancouver website (www.biv.com). • apetrozzi@biv.com Download the survey data (pdf) here.
What issues face your business? You are invited to join BIV and Ipsos' Business Advisory Board -- an online forum for business people to voice their opinions on topics related to business in British Columbia. |
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