This report offers an in-depth analysis and forecast for the tourism industry in Canada and the provinces, with a special focus on five key international travel markets.
Document Highlights
- The tourism industry in Canada is expected to begin recovering this year but not rebound. After a lackluster year, we expect that overall domestic trips will grow by 5.4 per cent in 2004.
- The war in Iraq and especially SARS hit the Canadian tourism industry hard in 2003. The domestic travel recovery is being supported by solid personal income growth as well as a level of pent-up demand.
- Overnight visits from the United States—Canada’s largest international market—are expected to increase by 6.8 per cent in 2004. The lingering effects of SARS and the historically high level of the Canadian dollar will limit growth in travel from the United States and delay a full recovery until 2005.
- After a terrible 2003, overnight overseas visits are expected to increase by 9.1 per cent in 2004. Nevertheless, it may take at least three years for Asian markets like Japan to recover to 2002 levels. Overseas visits from risk-adverse Asia were hit especially hard in 2003. European visits fared relatively better.
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