Paul Thomen

Wednesday, 4 September 2013

New Study: Travel and Tourism in Canada to 2017 Market Report

The report Travel and Tourism in Canada to 2017 by Timteric is now available at Contact with report name in subject line and your contact details to purchase this report or get your questions answered.

Despite a deceleration in 2009 due to the financial crisis, Canada’s tourism sector flourished during the review period, with tourist volumes increasing in the years following the crisis. The growth can be attributed to the country’s strong economic position and the promotional efforts of the Canadian Tourism Commission (CTC). During the review period (2008−2012), Canada’s domestic tourist volumes expanded at a CAGR of 1.04%.

This report provides an extensive analysis related to tourism demands and flows in Canada:
- It details historical values for the Canadian tourism sector for 2008–2012, along with forecast figures for 2013–2017
- It provides comprehensive analysis of travel and tourism demand factors with values for both the 2008–2012 review period and the 2013–2017 forecast period
- The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Canada
- It provides employment and salary trends for various categories of the travel and tourism sector
- It provides a comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries with values for both the 2008–2012 review period and the 2013–2017 forecast period

Key highlights
Based on current forecast, Canada’s real GDP is expected to grow by 1.6% in 2013 before strengthening to around 2.4% in 2014, fuelled by investment and export growth on the back of a recovery in global demand, especially with its main trading partner − the US. Timetric expects the economy to post an average growth of 2.4% over 2016−2017, led by robust domestic demand and improved demand for exports.

Canada was ranked eighth in the World Economic Forum’s (WEF’s) Travel and Tourism Competitiveness Index 2013, moving up one position from its 2011 ranking. The country is ranked fifth for natural and qualified human resources. However, rising currency rates have made tourism-related services expensive, resulting in a rank of 124th in terms of price competitiveness.

Domestic tourism has always accounted for a significantly higher share of total tourist volumes and earnings. Factors that have contributed to domestic tourism growth are the country’s infrastructure improvements, improved consumer confidence and higher discounts offered by travel suppliers. Domestic tourism is highly seasonal, with most trips taking place during the summer months of July, August and September. Short-length domestic trips in Canada are usually made on weekends with leisure being the main purpose, while most long trips are undertaken for business purposes.

The Canadian government launched the Federal Tourism Strategy in 2011 to increase the tourism sector’s competitiveness in the global market and position it for long-term growth. The strategy focuses on four key areas: to promote Canada as a world-class tourism destination; to ensure the safety of tourists and facilitate the ease of access to the country; to increase the quality of services offered; and to encourage product innovation and investment. Canada set a tourism revenue target of US$100 billion for 2015 and its federal tourism strategy will guide policies and actions set by the federal government to help meet this target.

Canadian airports lack price competitiveness compared to American airports, due to excessive taxation and high operating costs. Pricing in the Canadian airline market is changing in view of the federal government’s new laws to regulate advertised prices. Many major airline companies such as WestJet, Air Canada, Air Transat and Porter Airlines have consequently implemented all-inclusive pricing for their fares. The regulation is aimed at improving transparency in pricing.

Toronto is a key tourist location and an important business hub in Canada. The city has over 200 hotels with all major brands having a market presence. The Waterloo region in Ontario has been developed into a technology park and Niagara Falls and the Pacific Rim National Park also have a high density of hotels.

Canada’s car rental market is undergoing a phase of consolidation. Canadian citizens are permitted to bring a US-based rental vehicle across the border for non-commercial purposes for a period of 30 days. However, the surcharge for dropping the car off at a different location from where it was picked up is high in Canada.

Spa packages registered strong growth during the review period as an increasing number of Canadians preferred to spend on spa retreats. To meet the growing demand, travel intermediaries increased spa product offerings in Canada and abroad.

Reasons to buy
- Take strategic business decisions using historic and forecast market data related to the Canadian travel and tourism sector
- Understand the demand-side dynamics within the Canadian travel and tourism sector, along with key market trends and growth opportunities
- Identify the spending patterns of domestic, inbound and outbound tourists by individual categories
- Analyze key employment and compensation data related to the travel and tourism sector in Canada

For more details contact Mr. Priyank Tiwari: / +18883915441

No comments:

Post a Comment

Note: only a member of this blog may post a comment.