I want to warn you this is a mathematical blog post for international incentives and meetings, please don’t turn off because it will give you and your clients some real saving opportunities for your next international program.
Exchange rates in Europe and the United Kingdom have been dropping and now is the time to buy your international incentive/meeting!!!
As of 20th January 2015 vs 20th January 2014 The Euro vs USD and CAD enables clients in USA and Canada to receive about 15% and 8% more for their program respectively in exchange rates alone. In the UK, the exchange rate has been a little more stable vs the USD and CAD enabling clients in USA and Canada to get about 6% and 1% more respectively in exchange rates alone!
So what does this mean in reality?
Clients Paying in US Dollars:
- A EUR£100,000 program in 2014 cost about USD$135,600 and in 2015 the same program would cost USD$115,800 in exchange rates – a saving of US$19,800
- A GBP£100,000 program in 2014 cost about USD$164,200 and in 2015 the same program would cost USD$151,600 in exchange rates – a saving of US$12,600
Clients Paying in Canadian Dollars:
- A EUR£100,000 program in 2014 cost about CAD$148,700 and in 2015 the same program would cost CAD$139,000 in exchange rates – a saving of CAD$9,700
- A GBP£100,000 program in 2014 cost about CAD$182,100 and in 2015 the same program would cost CAD$180,000 in exchange rates – a saving of CAD$2,100
MICEport’s DMCs in Ireland, Scotland, France, Monaco, Germany, Austria, Italy, UAE, Oman can ensure that that your program not only works within your budget and exchange rates but more importantly fits in with your goals and objectives of your program. Our DMCs throughout Europe and the Middle East have an average of 26 years in business. Learn more about our DMCs at www.miceport.com.
Can you afford not to bring your incentive meeting to Europe and Scotland?
UP Next: Next Wednesday we will be covering some of the Tax benefits you can receive for meetings and incentives in international destinations.
All of the opinions in this blog are used as examples and are based on exchange rates based on 20th January, 2015 information. Rates and pricing is subject to change and is only used to exemplify potential savings.