The latest research from WTTC, in partnership with Oxford Economics, highlights a sector brimming with opportunities, supporting 1.84 million Canadian jobs—an increase of 120,000 jobs compared to the previous high point in 2019. Spending by both international and domestic tourists is also anticipated to reach unprecedented levels, with forecasts indicating total expenditures of $43.7 billion and $95.2 billion respectively, underscoring robust demand and vibrant growth within the sector.
Reflecting on last year’s performance, the Travel & Tourism sector’s GDP contribution surged by nearly 25% year-on-year to almost $172 billion, accounting for 6% of Canada’s total economic output and demonstrating the sector’s integral contribution to the national economy. Moreover, the sector proved to be a substantial source of employment, generating 85,000 new jobs and elevating the total to 1.7 million nationwide. This solidifies Travel & Tourism’s position as a major employment driver, representing one in every 12 jobs across the country.
The resurgence of international visitors to Canada has been remarkably strong, with international spending escalating by 42% to reach $41.3 billion, highlighting Canada’s allure as a premier global destination. Julia Simpson, WTTC President & CEO, expressed optimism, stating, “Travel & Tourism is poised to shatter all records in Canada. The government-supported Tourism Growth Program, with its $108MN in federal funding, will further propel both the economy and employment over the coming year.”
She emphasized, “The Travel & Tourism sector is robust, generating economic value and employment. Vancouver, Toronto, and Montreal stand out as popular destinations among international visitors.”
The outlook for the next decade shines exceptionally bright, according to WTTC projections. By 2034, the travel and tourism sector is anticipated to significantly boost Canada’s economy, contributing an estimated $248 billion and accounting for 7.1% of the total economic landscape. This flourishing industry is also projected to be a major source of job creation, with employment for 2.3 million people nationwide. This translates to 10% of the workforce being engaged in the sector, underscoring the pivotal role of travel and tourism in fostering Canadian employment.
The forthcoming decade promises not just growth, but a transformative period for travel and tourism. Canada stands on the cusp of an era defined by prosperity, innovation, and connectivity on an unprecedented scale, heralding a golden age for the sector that is eagerly anticipated by both consumers and businesses alike.
