The Canadian Tourism Industry Annual Report
Published in 2013
In this, our second annual report on the state of the Canadian travel and tourism industry, the Tourism Industry Association of Canada in collaboration with The Canadian Tourism Commission, HLT Advisory and Visa Canada, are endeavouring to tell the story behind the numbers and illustrate the intrinsic importance of our dynamic sector within the broader Canadian economy.
Travel and tourism is a complex, diverse and lucrative industry. It is also, due to its unique nature, one of the least understood industrial sectors from a public policy perspective. Unlike traditional industries that produce tangible goods in factories utilizing various distribution systems to reach markets around the world, travel and tourism generates export revenue by temporarily importing foreign travellers to purchase “experiences,” goods and services.
Travel and tourism is among the highest performing sectors of the global economy, experiencing average growth of 4% and generating over $1trillion of annual revenue. Canada is a highly sought after international destination and is poised to be globally competitive, be it for a few fixable policy issues currently impeding growth.
Canadians love to travel, both domestically and abroad. The Canadian travel industry has benefited from strong and sustained travel by Canadians within Canada offsetting a steady decline in international visitation. Travel and tourism’s added value to the Canadian economy however, is best realized through incremental increases in international visitation to Canada. Such increases will drive real economic development through investment in a broad range of travel product such as hotels ,attractions, recreational real estate and other support industries.
We hope that this report helps to contextualize the unique characteristics of Canada’s travel and tourism sector and illustrates the tremendous opportunities offered by this sector to produce real and sustainable economic development, jobs and prosperity for Canadians.
~David Goldstein, President & CEO, Tourism Industry Association of Canada and Lyle Hall, Managing Director, HLT Advisory