Tourism operators struggle with heavy debt despite business resurgence in efforts to survive

Maureen Gordon, the co-owner of ecotourism outfit Maple Leaf Adventures, has faced her fair share of challenges over the years. Starting the business just a month before the 9/11 terrorist attacks in 2001, she and her husband navigated through the aftermath and saw a relatively quick rebound. However, the impact of the COVID-19 pandemic has proven to be much more prolonged and devastating.

As the pandemic hit, Gordon’s business came to a standstill due to government shutdowns and travel restrictions. The uncertainty and financial strain were overwhelming, with high debt loads becoming a common burden for many small businesses in the tourism industry.

While 2022 showed signs of recovery as domestic travel surged, 2023 brought new challenges with rising interest rates dampening spirits. The tourism industry as a whole has been slow to return to pre-pandemic levels, with debt remaining a significant obstacle for operators across the country.

Beth Potter, head of the Tourism Industry Association of Canada, has called on the government to provide support through low-interest loans and a temporary foreign worker stream specific to the tourism sector. Despite some government pledges to support the industry, challenges persist, especially for businesses in tourism-dependent regions like Northern Canada and Niagara Falls.

As the sector continues to grapple with the aftermath of the pandemic, Gordon remains cautiously optimistic about the future. While the road to recovery may be unpredictable, she believes in the resilience and determination of those in the industry. The struggle may be ongoing, but the benefits that tourism brings to Canada and its global reputation are worth fighting for.