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The number of Canadians accessing U.S. airports for flights stateside is dramatically declining, according to a new report from the Conference Board of Canada, which blames the free-falling loonie.

The Ottawa-based group reported in 2012 than up to five million Canadian trips annually were occurring out of the United States, now says the figure will likely be down this year by at least 25 per cent and perhaps as much as 50 per cent because of the currency issue.

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“The lower dollar is reducing the incentive for Canadians to drive across the border and fly out of U.S. airports, and it is encouraging more international travellers to visit Canada,” according to the report from the Conference Board. On Thursday, the loonie sunk to US74.77 cents, an 11-year low.

Kristelle Audet, senior economist with the Conference Board, said the group has not precisely updated its 2012 study, but the general consensus is the number is falling. “A flight that costs about $400, you were able to save almost $200 on by going to the U.S. Factoring the depreciation of the dollar that savings is almost entirely wiped out,” she said.