Ski Prices Drop In Euro Zone, Norway and Canada, Rise In Switzerland and US
Ski Prices Drop In Euro Zone, Norway and Canada, Rise In Switzerland and US
Published : 31-Jan-2015 06:39
Recent weeks have seen dramatic fluctuation in currency exchange rates between the UK and the world's leading skiing nations – as well as many of the minor ones.
The weakening of the Euro and the decision by the Swiss Central bank to stop attempting to limit its strength on the international market means its good news or bad for Brits heading to Europe, depending on where they're heading.
The good news is that prices have dropped considerably at the ski areas that most of us head to – France, Austria, Italy, Andorra, Finland and Canada for example. The bad news is that for ski holidays to Switzerland and the US, it's now more expensive still.
With Euro exchange rates the best they've been for more than five years, prices in the Alps (except Switzerland), Pyrenees, Dolomites and other ski nations in the Euro-zone including Finland, Slovakia and Slovenia are around eight percent cheaper for Brits compared to a year ago with the pound buying around 1.3 Euros.
Prices in Switzerland, which were already considered high for those not resident in the country have surged by around 13% however after the Swiss Central Bank's decision.
Interestingly in Norway, traditionally thought of as one of the most expensive European destinations for Brits, the pound has continued to gain strength year-on-year and now buys around 11.5 krona compared to 8.5 Krona only two years ago – a rise of about a third.
Skiers heading across the Atlantic will find the US dollar at a two-year high against the pound with the pound buying only 1.5 dollars, but by contrast the pound has gradually increased in value against the Canadian dollar, now buying more than 1.8 Canadian dollars, making skiing in Canada more affordable.
'The Swiss Central Bank's decision to unfix its currency against the euro could change the dynamics of the European ski property market in Europe this year,' said Julian Walker, director at Skiingproperty.com, who added that the weak Rouble has pushed prices up for rich Russians aiming to buy in the French Alps by 60% .
"France, a truly international market, immediately becomes more attractive to foreign buyers – and it's not only property that has become more expensive in Switzerland, but so have all the associated costs of ownership, including mortgage repayments. There could also be repercussions for the rentals market."
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