Leading Question

Has the weak dollar attracted foreign visitors to our shores?

Despite a small uptick in its value against foreign currencies recently, the last four years have been a slow slide downward for the almighty U.S. dollar. Are there any bright spots? Theoretically, yes. If you're in the tourism and real estate industries, the weak dollar should mean more opportunities to attract foreign business.

"You can buy our goods more cheaply now," says New College of Florida economist Rick Coe. In terms of attracting foreigners, "a weaker dollar is a boost for our tourism industry and good for the real estate industry. Barring any major world disruption, we are the most desirable investment opportunity, the safe haven."

Since 2002, the dollar has been sliding against the euro and other currencies, such as the Japanese yen, the Canadian dollar and Brazilian real. In February 2002, one euro equaled 87 U.S. cents; four years later, that same euro was worth $1.19.

Ferdinand Viteri, a real estate agent at Prudential Palms Realty, says the weak dollar has been good for him; 18 percent of his business is international. "Our properties look very cheap, and Europeans say they get more house for the money." Most of his buyers are coming from Latin America, the United Kingdom and Eastern Europe, he says. About one-third of Viteri's international buyers is looking for investment properties, another third is buying vacation properties, and the last third is approaching the purchases as a blend of investment and vacation.

"We're still the land of opportunity," he says. "We have a stable government, and interest rates and airfare are low." And there's an added benefit to working with foreign buyers: "They make their decisions much faster. They're not as emotionally attached, since it's more of an investment."

Virginia Haley, executive director of the Sarasota Convention and Visitors Bureau, does not have exact figures for foreign tourists because the numbers are so small, but she paints a more cautious picture about the dollar's impact. "Nationally and in Florida, international visitors have finally climbed back to their pre-9/11 numbers-for Sarasota, the U.K. and Canada are the biggest," she says. In particular, U.K. business is stronger because of the weak dollar, but it's a double-edged sword. The cost of attracting tourists through U.K. public-relations firms or at U.K. travel trade shows is prohibitive now. "It's killing us," she says.

Larry White, executive director of the Bradenton Area Convention and Visitors Bureau, returned in March from a six-day trip to Germany, where he attended the world's largest travel show. A weaker dollar "is always good news for inbound travel," he says, "and German tourism noticeably increased in 2004 and 2005." And even though the German economy is struggling, White says the Germans are the most active travelers per capita in the world.

"And if they're coming to the U.S., then some will come to Florida," he says. "It's snowing over there."-Susan Burns

Countries with the most tourist visits in 2004:

1. France

2. Spain

3. United States

4. China

Source: USA Today

BUSINESS CALENDAR

MAY 1 Economic Development Corporation of Sarasota County investor update breakfast 7:45 a.m. at Marina Jack, 2 Marina Plaza, Sarasota. Speakers include New College President Gordon Michalson and Honeywell's Bill Rosencrantz. $20 for EDC investors, otherwise $25. Call 309-1200 ext. 203.

MAY 1-5 Manatee Chamber annual membership recruitment campaign Unique incentives and benefits to join all week. For details call 748-4842 ext. 121 or stop by the Chamber, 222 10th St. W., Bradenton.

MAY 3 "Good Morning, Greater Sarasota!" networking breakfast, 7:30 a.m. at Dattoli Cancer Center, 2803 Fruitville Road, Sarasota. Free for Greater Sarasota Chamber members, $5 for nonmembers. Call 955-2508 ext. 231 or RSVP at www.sarasotachamber.com.

MAY 4 Greater Sarasota Chamber partners meeting, beginning with a continental breakfast at 7:45 a.m. at the Chamber Boardroom, 1945 Fruitville Road, Sarasota. Call 955-2508 ext. 234.

27th Annual Manatee Small Business of the Year Awards Luncheon 11:30 a.m. to 1:30 p.m. at the Manatee Convention Center, 1 Haben Blvd., Palmetto. $35. Reservations required. Call 748-4842 ext. 123.

MAY 5 Downtown After Five live music on Lemon Avenue and Main Street in Sarasota, beginning at 5:30 p.m. Call 556-4039.

MAY 9 Business After Hours A free Manatee Chamber networking event, 5 p.m. at Keeton's Office Supply, 817 Manatee Ave. W., Bradenton. Call 748-4842 ext. 122.

MAY 11 Greater Sarasota Chamber Business Connections 5 to 7 p.m. at Holiday Inn Express, 6600 S. Tamiami Trail, Sarasota. $5 for members, $15 for nonmembers. Call 955-2508 ext. 231.

Manatee Young Professionals Networking Event 5 to 7 p.m. at the Sandbar Restaurant, 100 Spring Ave., Anna Maria. Complimentary hors d'oeuvres, cash bar. Call 748-3411.