Greenland, U.S. Plans to Boost Tourist Economy: Kiplinger Economic Forecasts

Many countries around the world rely on tourists and visitors to help keep their economies running. To help you understand what is going on and what we expect to happen in the future, our highly-experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest...

Good news for Canadians over 50 who own or rent homes in the U.S.

There’s a bipartisan effort in Congress to let Canadian visitors stay longer. The reason: These “snowbirds” provide a big economic boost to the U.S. 

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A House bill would let Canadians over age 50 who own or rent U.S. homes spend up to 240 days annually in the country — two months longer than is now allowed. Lawmakers highlight that Canadians spent over $20 billion in the U.S. in 2019, according to one report. The legislation would prohibit these Canadians from working for a U.S. employer and from being eligible for various forms of public assistance. They must also retain their nonresident tax status. 

Despite being mostly uncontroversial, the passage of the bill is not a given. Similar bills introduced in recent years have stalled.

Greenland's push for more tourists

Europe’s next hot vacation spot may be a place known for cold and ice. Greenland is pushing to attract more tourists in the coming years. The island, a territory of Denmark with 57,000 residents, plans to open three airports next year for an influx of visitors, including one in the capital, Nuuk. Flights will soon connect to larger airports in North America and Europe. Cruises to the island are popular, too. 

What does Greenland offer? Outdoor adventures are the main attraction: Icebergs and glaciers. Hot springs. Whale watches. Dog sledding. The Northern Lights. Hunting. It’s not a budget destination, but prices are cheaper than at some hot spots.

This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.