The depreciation of the Norwegian kroner has made the famously expensive Nordic country a more affordable destination for tourists, increasing spending and benefiting local businesses.
According to EuroNews, Nordic tourism has risen significantly in the last few months, as the Norwegian krone continues to weaken against most major global currencies.
The Norwegian krone/ US dollar pair has already fallen about 6.50% since the beginning of the year, trading at $0.091 at the time of writing. Similarly, the Norwegian krone/Euro pair dipped around 5.45% since the beginning of January, trading at €0.084 at the time of writing.
This has led to a surge in tourism, especially from countries like China, where Norway is seen as a typically expensive country. These visitors are now also spending considerably more than usual on Norwegian luxury clothing and accessories stores such as Moncler and Høyer.
This has led to Norway, along with other Scandinavian countries such as Finland, Denmark and Sweden all focusing more on how to cater better to Chinese tourists, with joint tourism initiatives, better flight connections and more payment options.
Source: EuroNews
very sad