The Canadian Industrial Outlook Service includes detailed five-year forecasts in 16 key Canadian industries. The report examines the short- and medium-term economic and profitability outlooks for these industries.
Canada’s Accommodation Industry: Industrial Outlook, Winter 2008
Canada’s Accommodation Industry: Industrial Outlook, Winter 2008
Industry Economic Analysis
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Key Issues
- Dollar—The strong Canadian dollar has made Canada a relatively expensive destination for travellers, limiting demand for accommodation as foreigners and Canadians choose to travel in other countries.
- Travel Deficit—The gap between spending in Canada by foreign residents and spending in foreign countries by Canadians is steadily growing. Canadian travel spending in foreign countries is also increasing at a stronger pace than domestic spending.
- Occupancy Rates—Strong national occupancy rate for hotels have allowed average daily room rates to increase and have pushed up investment in the accommodation services industry.
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