Between rapid inflation, the war in Ukraine and other economic crises, the euro and the British pound have fallen to the lowest levels in decades against the U.S. dollar. (In mid-September, the euro fell below the dollar for the first time since 2002, while the pound-to-dollar exchange rate has fallen as low as 1.08, a low last reached back in 1985.)
As a result, many American film and TV productions are looking to take advantage of Europe’s financial struggles by shooting overseas where they can stretch their budgets farther thanks to the stronger dollar.
“I am familiar with several projects that are making decisions on where to shoot and are taking these advantages into consideration,” Susan Sprung, national executive director of the Producers Guild of America, told TheWrap.