News You Can Use from Frankfurt

December 2004
by Jan Nathan, Executive Director, PMA

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Though you’re reading this in December, I’m writing it just after the Frankfurt Book Fair in October. But much of the information I want to share is relevant at all times.

The dollar this year sank to an unimaginable low against most other currencies throughout the world, which is both good news and bad news.

The bad news is that if you are traveling and using U.S. currency to purchase products, food, and lodging, you end up cringing when the bills appear. When we first started going to Frankfurt, we could purchase three deutschmarks for every U.S. dollar. To show you how far the dollar went in those days (and they weren’t very long ago), a meal in a decent restaurant would cost 15 DM (approximately $5 U.S.). Now Germany is on the euro; and this year it cost us $1.21 U.S. for one euro. The prices on the meals in the restaurant are still around 15 euros, so the dinner we paid $5 for a few years back now costs us $18.15. Needless to say, this year I came home with no souvenirs for anyone.

Now the good news: Because our dollar is so weak, buyers from lots of countries who had never been able to license our products before can afford to do that now. This meant that our days in Frankfurt were humming. My calendar was booked from 9 a.m. until 6:30 p.m. each day we were there. Business was booming. We came back with more requests for reading copies than ever before. We even had some offers on the floor. So, although it cost us more to do business…IBPA Members – Click here to view the full article (login required).

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