Media Blog
Use Foreign Currency To Support Local Economies When Traveling Abroad
Foreign currency is king with local vendors!
When American tourists travel abroad, they can “support local” by paying in their destination’s foreign currency & promote sustainable travel in several ways!
When you use local cash to pay for gifts, souvenirs and services (like tipping excursion tour guides or restaurant servers), you directly support local businesses. In addition, you prevent the vendor from incurring any fees associated with credit card transactions, which can be significant for small businesses. This means that more of your money goes directly to the business owner, who may use it to hire more employees, invest in their business, or support their family.
Using foreign currency for purchases overseas can stimulate the local economy and create a positive “ripple effect”. For example, if you were in San Miguel de Allende and purchase a silver bracelet set with turquoise, the jewelry designer may use the cash to purchase supplies (silver, turquoise, tools) from a local supplier and to pay the artisan jeweler who sets the stones. The action of paying in cash allows this local merchant to pay employees and vendors while supporting economic growth within their community. Paying in cash can also foster positive cross-cultural exchanges between visiting foreign tourists and local residents – don’t hesitate to inquire about their traditional artisan methods and learn about their culture. This can lead to meaningful conversations and connections that can help you gain a deeper understanding of the local traditions and way of life.
Travel hack: local vendors often offer price reductions on merchandise when tourists pay in cash vs. using a card, because they don’t lose part of the sale to credit card processing fees!
Always respect local customs and etiquette when making purchases and tipping – expectations vary from country to country.
Of course, Xchange of America is an excellent option when you buy foreign currency online for travel – whether you order ahead (or wait until the last minute), our convenient online platform makes ordering easy. Plus, we offer rush delivery for quick shipping to your home or office so you can land at your destination with local cash in hand!
Xchange of America…foreign currency, delivered!