Signal49 Research’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, Signal49 Research 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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