Travel and Tourism in Canada to 2018

Travel and Tourism in Canada to 2018

  • Submitted By: jimmies026
  • Date Submitted: 03/26/2015 10:50 PM
  • Category: Business
  • Words: 845
  • Page: 4
  • Views: 1


Recovering from a deceleration in 2009 due to the financial crisis, Canada’s tourism sector flourished during the historic period, with tourist volumes increasing in the years following the crisis. The growth can be attributed to the country’s strong economic position and the promotional efforts of the Canadian Tourism Commission (CTC). During the historic period (2009-2013), Canada’s domestic tourist volumes expanded at a compound annual growth rate (CAGR) of 4.68%.

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Key Findings

Domestic tourism drives the travel and tourism sector in Canada, which registered growth during the historic period, with the total number of trips rising from 91.4 million in 2009 to 109.7 million in 2013, at a CAGR of 4.68%. The growth was driven by improving economic conditions, rising consumer confidence and higher disposable incomes.
The total number of inbound tourist arrivals in Canada is expected to reach 19.0 million by 2018, recording a CAGR of 2.67% during the forecast-period. Government initiatives will support the expected growth in inbound tourist volumes. The Canadian government has taken several initiatives to develop and promote Canada’s tourist offerings. For example, Nova Scotia’s 2014 tourism marketing campaign, which is a multi-year brand campaign first launched in 2013, was also relaunched in March 2014 to attract first-time visitors in Canada to Nova Scotia, attract tourists from north-eastern US and other overseas visitors.
MICE tourism attracts 2.0 million visitors each year, accounting for total spending in excess of CAD1.7 billion. According to the International Congress and Convention Association (ICCA), Canada was the third-most-popular conference and business tourism destination in Latin and North America in 2013.

The growing cruise market significantly benefits the British Columbian economy, and generated CAD1.6 billion in 2013....

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