Canadian Economy to Receive Record $182 Billion Boost from Travel and Tourism Sector in 2021

The Canadian Travel & Tourism sector is gearing up for a record-breaking year, with the World Travel & Tourism Council (WTTC) forecasting a historic economic contribution of almost $182 billion in 2024. This represents a significant increase of $8.1 billion over the previous peak, highlighting the sector’s vital role in driving economic activity.

According to WTTC’s latest research in partnership with Oxford Economics, the Travel & Tourism industry in Canada supports 1.84 million jobs, with an additional 120,000 jobs compared to 2019. Both international and domestic tourist spending is expected to reach unprecedented levels, with forecasts indicating total expenditures of $43.7 billion and $95.2 billion respectively.

Looking back at last year, the sector’s GDP contribution grew by almost 25% to reach nearly $172 billion, representing 6% of Canada’s total economic output. The industry also created 85,000 new jobs, bringing the total to 1.7 million nationwide.

The resurgence of international visitors to Canada has been strong, with international spending increasing by 42% to reach $41.3 billion. WTTC President & CEO, Julia Simpson, expressed optimism about the sector’s future, citing the government-backed Tourism Growth Program and the $108 million in federal funding as key drivers of economic growth and job creation.

Looking ahead to the next decade, WTTC forecasts continued growth for the Travel & Tourism sector in Canada, with an estimated contribution of $248 billion by 2034. This industry is expected to be a major source of job creation, providing employment for 2.3 million people nationwide.

The future looks bright for the Canadian Travel & Tourism sector, with a promising era of prosperity, innovation, and connectivity on the horizon. Consumers and businesses alike are eagerly anticipating the golden age of the industry in the coming years.