The Canadian hotel real estate market continued its positive momentum through the first quarter of 2016 with aggregate transaction volume of approximately $331 million. Download the Q.1 transaction report which also includes a Canadian Tourism Snapshot from Destination Canada.
Tourism generates 1 in 11 jobs in Canada and supports employment in every community across the country. The tourism sector is the number one employer of Canadians under 35 as well as our biggest service export and we continue to grow our global market share, year-over-year.
Turbulence in the world economy in 2015 did not preclude Canada’s tourism industry from attaining heightened results across major indicators: Canada welcomed close to 18 million overnight visitors in 2015, a remarkable increase of 7.5% from the previous year and, for the rst time in over a decade, notably higher than the global
4.4% international arrivals growth rate.
These visitors spent a combined $16.8 billion across Canada, contributing to the livelihood of more than 190,000 small and medium-sized tourism businesses and supporting over 650,000 jobs. Upwards of three million of Canada’s visitors arrived from the 10 leisure markets in which Destination Canada (“DC”) and their partners invested in 2015.
Five of these markets – Australia, Brazil, China, France and India – registered a record number of arrivals to Canada. A weakened Canadian dollar, air capacity increases, international marketing and the implementation of the CAN+ Visa program all created conditions that we can leverage to boost Canada’s share of world arrivals.
Amid the economic recovery south of the border and the stronger purchasing power of the greenback, overnight arrivals from the US – Canada’s main inbound market – rose significantly to surpass 12 million.
With one billion international travellers on the move spending over $1.3 trillion USD in 2015, predictions for sustained growth are strong over the next decade. This continuing momentum within the global tourism industry represents significant opportunity for Canadian economic prosperity and diversication.