Canada’s tourism industry exhibits strong indications of recovery and is poised to contribute over $162 billion to the country’s economy in 2023, according to recent economic impact research conducted by the World Travel & Tourism Council (WTTC).
The study highlights that the Canadian travel industry is nearing its pre-pandemic peak of $173.9 billion from 2019. Furthermore, the report projects the creation of approximately 90,000 jobs in 2023 alone, resulting in a total of 1.64 million jobs in the sector. This recovery trajectory would signify the restoration of nearly all jobs lost during the global coronavirus pandemic.
In 2022, Canada’s travel and tourism industry experienced a remarkable growth of 41.4%, contributing more than $138 billion to the economy. This figure accounted for 5% of Canada’s total economic output, with one out of every $20 being generated by the travel industry.
The sector demonstrated its resilience by creating an additional 169,000 jobs in comparison to 2021, reaching a national total of 1.55 million jobs. This represents approximately one in every 13 jobs across Canada. The industry has now recovered 124,000 of the 283,500 jobs lost during the pandemic.
The return of international travelers to Canada became evident in 2022, as spending by overseas visitors surged by 64%, amounting to nearly $23 billion. However, this figure remained 47% below the peak of $42.9 billion recorded in 2019.
“The sector is a vital driver of economic growth and job creation in Canada with cities such as Vancouver, Toronto and Montreal remaining must-see global destinations for international visitors” Julia Simpson, WTTC President & CEO, said in a statement. “As overseas visitors continue to return to Canada, we will see international visitor spending recovering quickly, to reach 2019 levels in the coming years.”