The U.S. travel restrictions could boost Hollywood production in Canada
"We could benefit from the stay-at-home attitude of Americans," says Pinewood Toronto Studios chairman as the Canadian dollar tumbles, adding to currency savings for Hollywood.
And that's especially true if Los Angeles producers don't have to leave North America, as the U.S. suspends flights from certain international regions. But Hollywood production hubs in Toronto, Vancouver and Montreal have had to keep pace with the U.K. and other international jurisdictions offering equally lucrative tax breaks and other incentives to the major studios and streamers.
The low Canadian dollar compared to the American greenback has long kept the film industry in Vancouver busy as Hollywood producers reduce costs by flying north. And the Canadian loonie sliding in value against the American dollar has local players making bets on even more American film and TV production headed to Vancouver once the coronavirus pandemic ends.
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