NEW YORK, Nov. 5, 2015 /PRNewswire/ --
Domestic tourism drives the travel and tourism sector in Canada, which registered growth during 2009-2014 at a CAGR of 4.02%. However, after noticing the reduction in the number of tourists from the US, Prime Minister Stephen Harper allocated a budget of CAD29.2 million (US$30 million) in order to boost tourism promotion in the US. Moreover, the weak Canadian currency has impacted the outbound tourism of the country.
- Canada's tourism sector flourished during the historic period (2009-2014). Domestic tourist volumes expanded at a CAGR of 4.02%. International arrivals increased at an average annual growth of 1.62% to 2014, while total inbound tourist expenditure recorded a growth of 3.88%. The reason for slow growth in the arrivals was mainly because of a cut in the tourism budget, which has resulted in a decline of almost 4 million American tourists since 2001. In order to attract tourists back from the US, Canada launched a three year program called "Connecting America" in 2015. On the other side, the US, Canada's key source market has been promoting tourism aggressively in Canada. Outbound trips to the US are projected to reach 25.5 million by 2019 while the overall outbound trips are expected to reach 37.2 million in the same year. Moreover, with the falling Canadian dollar, the international arrivals are projected to reach 18.7 million by 2019
- In 2015, Prime Minister Stephen Harper announced a budget of CAD29.2 million (US$30 million) for three years in order to boost tourism promotion in the US. Moreover, as per the federal budget, under the three year program called "Connecting America", Tourism Industry Association of Canada (TIAC) will be focusing on attracting the U.S. citizens to Canada in order to bring back those 4 million American tourists that the country has lost since 2001. Under this budget, the plan is to enhance the tourist's experience by investing in public transit, cultural centers and historic sites on Canada's 150th birthday celebrations in 2017
- The number of tourists from China to Canada has increased by more than 30% during the first two months of 2015. The weakening of the Canadian dollar against the Chinese yuan was one of the major reasons that supported this growth. Moreover, by the end of this year, following the increase in the numbers of the tourists, the Chinese flight carrier, Air China is set to launch its direct nonstop flights between Beijing and Montreal
Canadean's report - Travel and Tourism in Canada to 2019 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
- Historic and forecast tourist volumes covering the entire Canadian Travel and Tourism sector
- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Canada's Travel and Tourism sector
- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
- Direct the promotional efforts on most promising markets by identifying the key source and destination countries
Read the full report: http://www.reportlinker.com/p03336870-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker reviews, finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.