Who are some of the local beneficiaries of a falling Australian dollar

Who are some of the local beneficiaries of a falling Australian dollar? When I think holidays in Australia I tend to think of Queensland and I suspect that is the case for many international travelers as well. Now whilst the dollar has not completely collapsed there is increasing expectation that the resilience we have seen over the past decade is now breaking down. Ardent Leisure, Echo Entertainment and Mantra Group all offer, in different ways, exposure to leisure and tourism in Queensland. So it was interesting to plot their respective 12 month share prices against the ASX200 index and review their performance. All stocks have delivered out performance, Echo +20%, Mantra +30% (approx) and Ardent around 70%. The market appears to have moved in anticipation of a lower dollar, however, given how long the currency remained at elevated levels this could be just the start of this trend.