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.
Document Highlights
Canada’s tourism industry is bouncing back from some difficult years, with profits expected to reach a healthy $642 million this year, matching the 1999 level.
Strong passenger demand has helped to boost revenues in the transportation sector. But competition is keeping airfares and profit margins low. The accommodation sector is expected to return to profitability this year, thanks to solid growth in the number of Canadian and foreign travellers and slowly rising room rates. Travel-related spending on food and beverages is expected to continue to grow, as will spending on other travel-related activities, such as sporting events, casinos and theatre.
Over the next few years, the outlook for tourism remains positive. But challenges remain: world economic growth is expected to slow, and competition will be intense for new tourists, such as the emerging middle class in China and India.
The report includes special features on how major airlines have delayed necessary restructuring and on how the strong loonie is affecting Canada’s tourism industry.
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