NEW YORK — The nation's stores should enjoy those hordes of foreign holiday shoppers taking advantage of the weak dollar and snapping up everything from UGG boots to status jeans, because next year the prices may not be as good.

When U.S. merchants rebuild their inventories of luxury and other status goods next year, some analysts say they may feel some pain as manufacturers overseas start passing on higher prices to stores — dealing a blow to shoppers both from the U.S. and abroad.

"When tourists are coming, they are not buying the stuff that we make. They are buying the stuff that we imported," said Peter Schiff, CEO of Euro Pacific Capital, a brokerage firm in Darien, Conn. "U.S. retailers are getting a shot in the arm, but by next year, the discrepancy won't be there."

As the dollar weakened in recent years, prices of European handbags, clothing and shoes have already started to creep up, and the cumulative effect has some stores concerned. According to luxury consultant Robert Burke, some Italian ready-to-wear brands have seen prices rise as much as 20 percent in the past two years; consumers are now paying 10 percent to 15 percent more on status shoe brands like Jimmy Choo, which now average between $600 to $700, Burke said.

But for now, U.S. merchants are enjoying the swarms of shoppers from abroad. Manolo Blahnik opened its New York shoe store Sundays during the Christmas shopping season, and toy retailer FAO Schwarz will be open tomorrow for the first time, in part to accommodate foreign visitors.

In New York City, the top U.S. destination for foreign tourists, 2 million visitors from abroad are expected this holiday season, up 3.5 percent in the year-ago period, according to NYC & Company, the city's official tourism and marketing organization. For the calendar year, NYC & Company expects up to 8 million foreign visitors, up 11 percent from 7.2 million in 2006. More importantly, foreign tourists' spending has increased 25 percent to $1,750 per person this year, from $1,400 in 2005.

"This is my big shopping trip. And it was well worth it," said Ali Costello from London, who was at Lord & Taylor's Manhattan location last week, buying Australian UGG sheepskin boots for her daughter. She plans to spend about $2,000 and had two bright red suitcases by her side that she had just purchased at Macy's to shove all the bargains into.

George Malkemus, president of Manolo Blahnik's U.S. division, said that foreign tourists this holiday season account for 40 percent of the trendy shoe company's business in New York, compared with 20 percent a year ago.

Bloomingdale's, which tracks foreign visitors at its visitors' centers in New York, Chicago, San Francisco and Miami, reports at least a 30 percent increase in foreigners in October and November from a year ago. Among the popular brands are Chanel, Armani, Juicy Couture, Seven for All Mankind and the hugely popular UGGs, company officials said.

Foreign shoppers, armed with lists, are focusing on specific status labels, and are doing plenty of price comparisons.

Yong Feng Zhang, a 30-year old international law student from China, recently eyed a $795 Burberry bag at a Bloomingdale's store in Chevy Chase, Md.

"I can buy two bags (here) instead of one in China with the dollar so undervalued compared to the Chinese yuan," Zhang said. "The brand is very popular in China."

Welsh tourist Allison Watkins, who was at Bloomingdale's Manhattan location last week, said she was there to buy ties, Diesel jeans and makeup. But she passed on an electronic memory card at another store when she realized there wasn't much of a savings. "I compare everything," she said.

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