Visitors Buy More With Less
Sliding Uganda shilling gives tourists more to spend
(eTN) The ongoing slide of the target="_blank">Uganda shilling, now trading below the psychologically important 2,250 mark versus the US dollar, is helping tourists to get more value locally for their euros, pounds, and dollars, as they can purchase more with the same amount of their own currency.
Expenses in destination are often a factor in making the decision to come to a country or in the final assessment of how enjoyable a holiday was and if a visitor got value for money. In turn, however, Ugandans are bracing themselves for a rise in prices of imported goods, including fuels, as more shillings are now needed to purchase hard currency.
Across the border in Kenya, their shilling has also been sliding, and over the last weekend reached a 5-year low, breaking through the important 80 barrier, lowering the cost for local purchases for tourists, but in turn making life for ordinary Kenyans more expensive.