National

Tourism spending may recover sooner than expected

Darpan News Desk The Canadian Press, 22 Nov, 2022 01:19 PM

VANCOUVER - Tourism spending in Canada is expected to recover sooner than previously anticipated.

Destination Canada published its latest tourism outlook today, which says it predicts tourism spending to recover to 2019 levels by 2024, up from 2025 as predicted last spring.

The government organization says that Canada's domestic travel market spending is recovering at an even faster pace and is expected to reach 92 per cent of 2019 levels in 2022 and fully recover in 2023.

It says the U.S. market is positioned to grow with spending reaching 91 per cent of 2019 levels in 2023 and expects a full economic recovery by 2024.

Destination Canada chief executive Marsha Walden says international revenue will be slower to recover due to stalls from the global recession and pandemic restrictions and should reach 2019 spending levels by 2025.

According to the report, Canada’s tourism sector could generate more than $142 billion by 2030, a 35 per cent growth over the course of the next decade.

Prev Next

MORE National ARTICLES

More ground to search in Kamloops, expert says

Prof. Sarah Beaulieu of the University of the Fraser Valley says the search has covered less than a hectare and there is another 65 hectares to search. Beaulieu says the investigation also has evidence from those who were as young as six at the time being woken in the night to dig graves.

More ground to search in Kamloops, expert says

WHO chief says it was 'premature' to rule out COVID lab leak

In a rare departure from his usual deference to powerful member countries, WHO Director-General Tedros Adhanom Ghebreyesus said getting access to raw data had been a challenge for the international team that traveled to China earlier this year to investigate the source of COVID-19. The first human cases were identified in the Chinese city of Wuhan.

WHO chief says it was 'premature' to rule out COVID lab leak

B.C. fire 'wake-up call' to take precautions: TSB

A wildfire in Lytton, B.C., during historically high temperatures points to a serious need to prevent similar occurrences, says the chairwoman of the Transportation Safety Board, which is investigating the possibility that a freight train could have been linked to the disaster.

B.C. fire 'wake-up call' to take precautions: TSB

Macklem: BoC will respond if inflation too hot

Tiff Macklem says the central bank largely expects higher prices right now are temporary and the inflation rate will fall back to the bank's two-per-cent target as the economy opens further.

Macklem: BoC will respond if inflation too hot

Wildfires prompt evacuation orders, alerts in B.C.

Evacuation orders affecting more than 1,400 properties are posted for 10 of the 26 fires currently listed by the B.C. Wildfire service as potentially threatening or highly visible.

Wildfires prompt evacuation orders, alerts in B.C.

NDP leader waves off one-time wealth tax

In a report today, parliamentary budget officer Yves Giroux estimates that a one-time tax of three per cent and five per cent on Canadians with net wealth over $10 million and $20 million respectively would yield between $44 billion and $61 billion.