When the Australian dollar was flying high in world currency markets a while ago, stories of grey nomads abandoning their caravans and motorhomes to make a beeline for the nearest airport or cruiseliner were rife.
However, it seems that the worm has turned and the value of the Aussie dollar has plummeted when compared to many major currencies. It has meant that the Big Lap has re-appeared on the radars of retirees who might have previously been tempted to head overseas
Two years ago one Australian dollar would have bought you nearly 70 British pence, but today it is more like 50 pence. Over the same time period, the Aussie dollar has fallen from around US$1.05 to about US76 cents.
This, in tandem, with falling fuel prices has brought a few ‘renegade’ grey nomads back to the Happy Hour fold.
The reversal in domestic tourism fortunes was reflected in the RBA’s quarterly bulletin last week when it noted: the “fundamental conditions for domestic leisure tourism appear more favourable than they have been for some time”.
The falling Aussie dollar has, of course, also mean more foreign tourists arriving on our shores – and at our campfires.