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
- Canada’s tourism industry benefited from a solid rebound in travel demand during 2004. However, for many tourism businesses, profits have not kept pace with the growth in demand, because prices remain low. While the rebound in overseas travel to Canada exceeded expectations, U.S. travel to Canada struggled to regain ground.
- Uncertainty surrounding the American election combined with a weaker-than-expected U.S. labour market and the high value of the Canadian dollar dampen overnight U.S. travel to Canada during the year. Moreover, skyrocketing oil prices took their toll, not only on the relative cost of travel but also on the discretionary spending of potential travellers.
- Looking ahead into 2005, there are still many reasons to be optimistic that a recovery has taken root. Signal49 Research’s latest Travel Intentions Survey continues to show that Canadian winter vacation intentions remain quite strong for both domestic travel and international sun destinations. Furthermore, consumer confidence and economic prospects for Canadians remain solid. Combined with greater political stability throughout the world, more travellers appear eager to travel abroad again.
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