Recently Released Market Study: Tourism Flows Inbound in Venezuela
The official exchange rate of BsF4.30/US$1.00 puts the domestic currency in an overvalued position, making Venezuela one the most expensive countries to visit in the Americas. Although the exchange rate misalignment should act as a deterrent to incoming tourists, the flow increased in 2011 and again in 2012. This increase could be explained by the existence of a very dynamic black market of foreign currency that works primarily in cash that is reducing the high costs of travelling and lodging...
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