Ideas, tips and reports about event display construction and management

exchange rates

by welkamro

when looking at this chart, which compares the Yen with Euro and US$, it becomes immediately clear, that everybody involved with these currencies has to cope with very volatile developments.
The graph above is based on data from www.oanda.com/convert/fxhistory

For example: a booth construction for a project in Japan costed 3.000.000 Yen in July 2008. For the customer in Europe, this translated then to 17.750 Euro. The same project cost the same in Yen Febuary 2009, but the rate makes the Euro price change to 26.300. A hefty 48% price hike.
"Why are you so much more expensive this year?" is a q├╝stion, we hear often, but it is the exchange rate, that makes the difference.
Everybody understands, that budgets for such projects are often decided many months before the event and we try to react flexibly to changes, but our costs are born domestically, so we would only be able to reduce cost by adjusting the items and volumes, we deliver.
On the other hand, the reason for a trade show participation is mostly to make business in that country. And if the costs seem high for products and services compared to home because of the exchange rate, that means also that the exhibitor's products and services should be able to achieve a higher price, which - transformed to their home currency - should make the endeavor worth while.
Plus over a longer time period, it will eventually even out. Next year it might already be the other way round.

the Welkam boys Kojichu, Japanese for 'under construction,' is an ongoing notebook of ideas, tips and discoverys we've picked up over the years building displays and managing events around the world.

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