CALGARY 鈥� The loonie fell below the 70-cent U.S. mark Tuesday for the first time in 13 years. In its wake, the rapidly dropping dollar is leaving a roster of winners and losers in sa国际传媒. Here鈥檚 a look at who is benefiting 鈥� and who is hurting:
Winner: The film industry. Hollywood North, whether it be Vancouver, Toronto, or some of the up-and-coming markets like Calgary, is booming. Peter Leitch, president of North Shore Studios and chairman of the Motion Picture Production Industry Association of sa国际传媒, says American studios are increasingly heading to sa国际传媒 to take advantage of the low dollar.
鈥淭hat does make sa国际传媒 one of the top choices of places to come to,鈥� said Leitch. 鈥淎 few years ago when it was at par, it was quite a challenge to attract business.鈥�
He said the boost to the film industry is helping fill some of the gaps from the resource sector.
鈥淚t鈥檚 a great alternative when other parts of the economy are struggling. I mean, we鈥檙e hiring people from the oil and gas industry to help rig some of our sets.鈥�
Loser: Snowbirds. Canadians planning their winter escape to the southern U.S. will be feeling the pinch as their money won鈥檛 stretch as far. Travellers are likely to cut back their trips and spend less while enjoying the warmer climes.
Winner: The cattle industry. sa国际传媒 exported about $1.5 billion in beef products to the U.S. last year. Brian Perillat, senior analyst at cattle market research outfit Canfax, says the high U.S. dollar has helped keep Canadian beef prices up even as the U.S. market has started to retreat.
鈥淎s the (Canadian) dollar goes down, it certainly helps our prices relative to the U.S.,鈥� said Perillat.
鈥淏asically every time the loonie drops a cent, on average our calf prices go up about five cents a pound, holding all other things consistent.鈥�
Loser: Pro sports teams. If you think buying a pair of shoes in the U.S. hurts, try signing a multimillion-dollar contract with an NHL, NBA or Major League Baseball star.
Winner: Tourism. sa国际传媒鈥檚 tourist hotspots are getting a boost from Americans heading north of the border as well as Canadians opting to take so-called staycations.
鈥淲e鈥檝e got a lot of drive traffic coming across the border,鈥� said Sarah Morden, a spokeswoman for sa国际传媒 ski resort Whistler Blackcomb. 鈥淚t鈥檚 just kind of a no-brainer really. We鈥檙e not that far from Washington state and we鈥檝e got great snow and a low Canadian dollar.鈥�
The Conference Board of sa国际传媒 says overnight travel from the U.S. increased about seven per cent last year and is expected to rise another 3.3 per cent this year.
Loser: Consumers. Be prepared to pay more for anything imported, including food. The University of Guelph鈥檚 Food Institute estimates the average Canadian household spent an additional $325 on food in 2015 and is expected see an additional increase of about $345 this year because of the low dollar.
Winner: The mining sector. Vancouver mining company Teck Resources credits the low Canadian dollar for helping the company weather the downturn in commodity prices, with the company able to sell its copper and coal at U.S. prices while pay operating costs in Canadian.
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