It's also worthwhile remembering that FLT are building...

It's also worthwhile remembering that FLT are building substantial businesses offshore and delivering foreign currency earnings for the company.

I also recall FLT management noting that Australians have become so accustomed to travelling abroad that when the $A falls they don't stop the overseas holidays, they merely make them a little shorter to keep the cost lower. Hence there is an impact at the FLT domestic stores, but not overly significant - particularly as airfares remain affordable due to intense competition. Supporting this concept, I heard a representative of Tourism Australia noting that inbound tourism hasn't necessarily got a boost from a lower $A, it was stated that consumer confidence in the tourist's homeland was the most important factor in the decision to travel abroad. But once here, tourists are likely to spend more as their own currency has greater purchasing power!