The Canadian Industrial Outlook sets the stage for the Canadian economy by examining 10 key industries. Revenues and costs are projected to analyze the profitability of each industry through to 2008.
Canada’s Tourism Industry: Industrial Outlook, Summer 2006
Canada’s Tourism Industry: Industrial Outlook, Summer 2006
Canadian Tourism Analysis
Industry Economic Analysis
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Healthy gains in tourism spending by Canadians in their own country will continue to offset weakness in foreign spending this year, allowing profits in the tourism sector to reach a high of $1.05 billion. But the growth in profits will end there.
New rules that will require everyone to show a passport or some other secure document when they enter the United States will further reduce the number of U.S. visitors to Canada and place downward pressure on prices—especially once the rules come into effect for land border crossings in 2008.
As a result, overall tourism profits will stagnate in 2007 and actually fall in 2008. Profits will begin to recover thereafter, climbing to $1.1 billion by the end of the forecast period in 2010.
The outlook includes special features on the recent drop in U.S. visitors and on changes to airline fleets that are boosting growth in the airline industry.
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