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 ReportsnReports.com. Contact sales@reportsandreports.com 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%.

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Scope

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

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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

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Peru In & Outbound Travel and Tourism Market 2017

RnRMarketResearch.com adds “Travel and Tourism in Peru 2017” new report on its database.

The report provides detailed market analysis, information and insights, including:

- Historic and forecast tourist volumes covering the entire Peruvian travel and tourism sector

- Detailed analysis of tourist spending patterns in Peru

- The total, direct and indirect tourism output generated by each category within the Peruvian travel and tourism sector

- Employment and salary trends for various categories in the Peruvian travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others

- Detailed market classification across each category with analysis using similar metrics

- Detailed analysis of the airline, hotel, car rental and travel intermediaries industries

Tourism has a significant contribution to GDP as well as employment. According to the world Travel and Tourism Council, the tourism sector contributed 8.9% to the total gross domestic product (GDP) in 2012 and 7.4% to the total employment in Peru. The National Strategic Plan for Tourism (PENTUR 2008 – 2018) was prepared by the Ministry of Commerce and Tourism and details the guidelines for developing tourism. The four main areas of the plan include the development of tourist destinations, business development, communication, promotion & marketing and institutional coordination and management.

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Domestic tourist volume increased to 13.8 million trips in 2012, increasing at a CAGR of 2.99% between 2008 and 2012.  It is expected that, between 2013 and 2017, tourist trip volumes are expected to increase at a CAGR of 3.19% to reach 16.2 million trips. Domestic demand for tourism will be driven by rising income levels and government promotion or domestic tourism.

The number of inbound tourists increased from 2.1 million in 2008 to 2.8 million expanding at a CAGR 0f 8.44%. The number of inbound tourists is expected to reach 3.9 million by 2017 at a CAGR of 6.36%. The key drivers for growth include improving economic conditions in key markets, access to travel at competitive prices and the government’s efforts to promote tourism on an international level.

The outbound tourist volume increase at a CAGR of 4.67%, increasing from 1.9 million in 2008 to 2.3 million in 2012. Outbound tourism is expected between 2012 and 2017, at a CAGR of 4.38% reaching 2.8 million trips by 2017. Changing travel habits of Peruvians, the expansion in air transport services and the stability of the currency will continue to be the major factors driving the trend.

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The unemployment rate eased from 7.8% in 2011 to a historic low of 6.8% in 2012, in line with healthy economic performance, while real wages growth accelerated from 9.7% in 2011 to 10.7% in 2012. Increased real wage has induced greater consumer confidence which has contributed to consumer spending. The government’s move to increase the wages of public sector employees will further boost the consumer confidence, which will support the expansion of domestic demand over the forecast period.

Reasons to buy

- Stay one step ahead of the industry by understanding the flow of tourists including domestic, inbound and outbound.

- Understand where the potential lies within the Peruvian travel and tourism industry by viewing data and forecasts with regards to Airlines, Hotels, Car rental, etc.

- Stay ahead of your competitors by taking a look into their company profiles, including Peruvian Airlines, Marriott Hotels and Avis rent-a-car.

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