The Economic Impact of SARS

The Conference Board of Canada, 3 pages, May 2, 2003
Special Briefing by
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The Conference Board’s Canadian Tourism Research Institute (CTRI) has analyzed the impact of SARS on all aspects of business and leisure travel for both Toronto and Canada as a whole. In addition, using its economic model for Toronto, the Conference Board has estimated the losses from SARS on Toronto’s GDP, including induced effects.

Document Highlights

  • The outbreak of SARS in Canada is forecast to lower real GDP by approximately $1.5 billion,or 0.15 per cent,in 2003.
  • Roughly two-thirds of this impact will be felt by the City of Toronto,lowering its real GDP by 0.5 per cent this year.
  • Tourism receipts in Toronto are forecast to be lower by 8.9 per cent this year as a direct result of SARS, not counting a substantial drop in activity at Pearson International Airport.
  • By far, the largest impact of SARS is felt in the travel and tourism industry, which nationally is expected to lose about $1.1 billion in real economic activity in 2003.

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