Cross border shoppers can officially spend more
Posted Jun 1, 2012 05:28:35 AM.
This article is more than 5 years old.
Duty free limits for Canadian travellers jump significantly starting today.
For stays of more than 24 hours the duty free limit will jump to $200 from $50. For visits longer than 48 hours, limits will increase to $800. Undoubtedly border towns like, Niagara, Sarnia and Windsor will be affected, the question is should retailers in the Region be worried.
Greater Kitchener-Waterloo Chamber of Commerce President and CEO, Ian McLean doesn’t seem to be worried, “I’ve heard some concern from some retailers here and so we’re monitoring this very closely but I think we’re close enough that it could impact us here but I don’t believe that we’ve seen evidence in the past that it has been as huge of an issue.”
A report from BMO Capital Markets suggests that Canadians will flock in numbers not seen in decades to the United States for shopping, “We have a very vibrant business community here and a retail sector in particular. We always encourage people to buy locally. Those are the retailers that support our charities, our non for profits and are your friends and neighbour and support our sports teams for example”, said McLean who urges people to keep local business in mind so that our economy does not take as big of a hit.
The previous duty free limits were $400 for a week stay and $750 for more than a week.
The report does state that border delays, the high price of gas, online shopping and the passport requirements have kept the level of people travelling to the U.S. for shopping well below the peak levels of the early 1990’s.
