The Weakening Dollar Benefits Local Online Shoppers
By Rico, 3:03 pm Mon Jan 14 2008 - Analysis - 4 Opinions
In a span of under a year, the US Dollar has lost almost one-fifth of its value when compared to the Philippine Peso. This unprecedented drop is a definite boon for Internet entrepreneurs, many of whom pay for their online properties in dollars.
But another group has also benefited from the weak dollar. As Doing Biz Abroad reports:
The weak dollar has had one interesting effect, though, which is to bring a host of otherwise domestic businesses from the US kicking and screaming into the international market. I’m talking about internet-based businesses, who suddenly find themselves with a lot of orders from people in countries they’ve never heard of eager to cash in on the weak greenback. In that sense the weak dollar may be a good thing, if it inspires clever entrepreneurs to internationalize their businesses to leverage markets outside of the U.S.
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