Kitely Forums

So I doubt it has escaped peoples attention, but both the Pound and Euro are suffering at the moment. The pound in particular has taken a hammering since the British public decided to jump of Brexit cliff while the rest of the world watched and shook its collective head. Both the Pound and Euro are headed for "parity" with the dollar, where $1 = £1 = €1

I have been wondering how this financial uncertainty has been effecting EU/UK peoples use of Opensim and SL. Are people scaling back? Shopping less? Or is it business as usual?

I have certainly noticed a dip in sales since all this (Brexit) kicked off. So I am concerned that the current volatility is pricing out my European customers. Everything basically costs 15-25% more than this time last year. Thats gotta hurt.

I would very much value hearing some opinions on this, especially from those in the EU or UK.

The pound's slide against the dollar has made me pull back from purchases where I would usually go straight ahead. I'm parking "nice things to have" from Kitely Market in my wish list, so I don't forget or lose them.

I remember that certain merchants hold sales from time to time

The money I spend in virtual worlds is insignificant compared to everything else that's happening financially.
So, no different really. However time is getting eaten up just keeping track of events.

Personally, I don't like real world politics brought into virtual worlds because politics is always a cause for division and we don't need that. Arguments were made forcefully on both sides in the debate, people made up their minds and Brexit was the outcome. That's democracy, love it or hate it but I will say that enough warnings were given that there would be uncertainty which could see the currency go down in value as it has done so I feel relieved that I chanced buying a fair number of dollars when the rate was still high given I do business online. So, I'm not affected yet although I have seen my costs rise. Uncertainty is causing this so, hopefully, in time once the exit is done with and Britain embraces global trading opportunities, things will improve and the pound will pick up again.

Remember that the pound was worth a little over two dollars in 2008 before the banking crisis and it dropped to $130 at one point but recovered again eventually. I'm not too concerned, the British economy is strong. As for spending on virtual products I have no intention of cutting back yet.

I think it is more useful to discuss how changes RL can impact the virtual world. The changes in money exchange rates, for instance. I am actually confident that the british Pound will recover. What is more important, I find, is changes in consumer disposable income with unemployment and economic growth, productivity growth. Virtual worlds are still seen as akin to gaming, and so are highly elastic in response to disposable income.

Hi Everyone

Sorry for starting this thread and promptly abandoning it. RL is taking its toll atm and I totally forgot.

I agree with you Gaga about bringing politics into the virtual world. But also, everything is politics to some degree or other, and currency values are an issue which have a real and tangible effect on peoples ability to partake in virtual worlds. So I think it is worth discussion. But I agree maybe I should not have kicked off with my personal opinion on the situation.

Honestly, I am glad to see people are feeling more optimistic than I do. The question was asked not to "rant" about my political beliefs but to see how people were feeling out there about the economic situation.

Also, division is a choice when discussing politics. Sadly in our age politics is often a dirty word. I still hope and believe it is possible for two people with conflicting views to express their opinions and still remain friends. But yeah, the internet.

Anyway, I am planning a Christmas Sale as we speak

Ozwell Wayfarer wrote:Anyway, I am planning a Christmas Sale as we speak

Goodie!

Goodies!!