Forex interventions spur tourism, but damage travel agencies

04-11-2014

The forex interventions launched by the Czech National Bank last year, in order to weaken the crown, have brought a higher number of tourists to the Czech Republic. In the first two quarters of 2014 the number of tourists from neighbouring countries rose on average from 6 to 10 percent, with the highest number of visitors from Austria and Slovakia. However the interventions negatively affected the profit margins of travel agencies.