The weak U.S. economy and the low value of the dollar abroad mean increased tourism - and foreign money - for the City of Brotherly Love.
Philadelphia experienced a dramatic increase in international tourism from 2000 to 2005 said Fritz Smith, director of international and domestic tourism at the Philadelphia Convention & Visitors Bureau. During that period, it was one of only three of the 20 largest U.S. cities to do so.
Since 2005, international tourism in Philadelphia has remained relatively stable, industry officials say, though precise numbers are not yet available.
Part of that increase has been due to the low value of the U.S. dollar. Since its inception in 1999, the Euro has gained about 30 cents on the dollar, according to information from the European Central Bank. One Euro is now worth about $1.45.
Favorable exchange rates are one of the main draws for foreign visitors.
"We are such a good buy," Smith said, adding that for visitors from the United Kingdom and Ireland, Philadelphia's tax-free clothes shopping is another big draw.
French visitors are "less of an impulse buyer," given the longer distance and language barrier, Smith said. To attract those visitors, Philadelphia spends more time promoting cultural institutions like the Philadelphia Museum of Art, the Barnes Foundation, and the Rodin Museum.
Philadelphia's tradition of attracting foreign tourists began shortly before the Sept. 11, 2001 attacks.
While other cities scaled down their international-marketing efforts, Philadelphia used money from an economic-development fund and grants from the Delaware Port Authority and the state of Pennsylvania to aggressively market itself internationally, Smith said.
And while cities like Boston, New York, and others lost international visitors, information from the PCVB shows an increase of 44,000 more foreign visitors in Philadelphia in 2005 than 2000.
The influx of foreign visitors has helped the city's economy: Philadelphia made $44 for every dollar spent on international marketing.
Michael Slocum, president of Philadelphia Trolley Tours, has seen an increase in business in recent years.
"We carry significantly more passengers now than in 2000."
While European visitors contributed most to the tourism boom in the last decade, "We are starting to dip our toe into the Asian markets," Smith said, as the PCVB looks to China and Japan as new sources of visitors.
