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Exchange Rate - What's Up?
Do you recall visiting China during your family’s adoption trip and being pleasantly surprised by the exchange rate of dollars to yuan? For example, if your family traveled to adopt during 2005 you would have had an exchange rate of roughly 8.2 yuan to 1 dollar. While the focus of the adoption trip is their child, some parents have enjoyed shopping for souvenirs and mementos that were made cheaper by a favorable exchange rate.
Today that exchange rate is moves around 6.2 yuan to 1 dollar. Business Week Online recently stated of the yuan, “It has gained about 30% in nominal terms against the dollar since the landmark move in the summer of 2005 to de-peg the yuan from the greenback.” With the growth of the Chinese economy it is a good plan to travel to China “sooner rather than later” is the best bet.
If you haven’t followed Chinese news closely, you may be surprised at the growth of the yuan. Louie Yi, owner of Lotus Travel, puts it this way: “Each year I bargain with hotels and partners to try to hold inflation down for our families.” And adds a suggestion: “Families can also save on the budget to travel when children are under 12 – it saves 20%”.
A family can reap significant cost savings by traveling at off peak times such as winter and early spring which offer better rates on both airfare and hotels, sometimes saving as much as 50% on airfare. To view additional suggestions, click: Budget Suggestions or Trip Savings Plan . Louie Yi, Lotus Travel President also says, “I will work with families to meet the budget they have, there are different ways to save.”
Child psychologist and international adoptee experts share the perspective that kids during early elementary years are ideal candidates for the travel experience, with their strong connection to parents and concrete thinking, which helps them see the enjoyment of each new experience. See detailed article by Dr. Rebecca Nelson entitled: Timing of Birth Country Visits
To join an upcoming webinar to find other practical tips on planning a heritage journey, email firstname.lastname@example.org or view current schedule at www.lotustours.net
Notes: Currency converter: https://www.oanda.com/currency/converter/