Tuesday, April 17, 2007

A Pint's a Pound the World Around ($.50 US)

Those of you that follow the international currency markets are obviously aware that the British pound is now worth nearly $2.00, which is the lowest value for the dollar for the last 15 years. From the Guardian:

"This could well prove to be a very significant week for sterling, as we have a string of events which could well propel sterling to break the $2 level," said Martin Slaney, head of spread betting at GFT Global Markets in London.

"Momentum is certainly with the pound right now and there's every chance that the higher volatility we are likely to see this week will take us above $2."

A weakening dollar last November pushed the pound just shy of $2 but it did not quite make it to the key level. The appreciation in sterling prompted a stampede to book flights to New York as British shoppers embarked on pre-Christmas shopping frenzies.
Now, wait a second... does the Pittsburgh Visitors and Convention Bureau know about this? Think about it: the average price of a pint in London is £2.24, which is about $4.50 today.

What's the average price of a pint in Pittsburgh? $2? $2.50 if you're drinking something good? $4.50 if you're drinking something really, really good? Dude! I know like five places that have $.25 drafts and $.10 wings... that's like, what, £.20?

WHY AREN'T BRITS BREAKING DOWN PITTSBURGH'S DOOR TO SPEND MONEY HERE? This is primo marketing materials for the Vistors Bureau! Why aren't these guys all over this? I should be seeing signs, flyers, banners, TV ads, Internet ads, Email Blasts all with the same message to the UK: "Come to Pittsburgh and Drink Cheap Beer!"

Or are they just going to Cananda to get real beer?

Someone's obviously dropping the ball here.

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1 comment:

British pound value said...

Is there anything you can do to ease the pain? Ultimately, probably not – if the rate is bad, then you have to wear it. But on the other hand, if you’re moving large amounts of currency around then it really does pay to look beyond your bank. There are several currency exchange specialists who can move the money quickly for you at an agreed rate that can be far better than what the banks offer.