The forecast from the World Travel & Tourism Council (WTTC), shows the sector’s contribution to Canada’s GDP could reach CAD157 billion next year, just 0.8% below 2019 levels.
Looking to this year, the report shows the sector’s contribution to GDP is expected to grow 25.4% to CAD138 billion, amounting to 5.3% of the total economic GDP.
However, employment levels in the sector are set to grow at a slower rate, only 3% this year, reaching just over 1.5 million jobs.
Over the next decade, Travel & Tourism’s GDP is expected to grow at an average of 4.4% annually, more than twice the 1.9% growth rate of the country’s overall economy, to reach nearly CAD213 billion - 6.8% of the total economy.
The forecast also reveals the sector is expected to create more than half a million jobs over the next decade, averaging more than 50,000 new jobs every year.
Julia Simpson, WTTC President & CEO, said: “After the agony suffered by Canada’s Travel & Tourism, businesses across the country can finally breathe a sigh of relief as the sector begins to recover from the ravages of the pandemic.
“Following two years of severe and highly disruptive travel restrictions, which decimated the sector, the outlook for the future is much brighter for both jobs and the economy.”
Before the pandemic, Canada’s Travel & Tourism sector’s contribution to GDP was 6.3% (CAD158.1 billion) in 2019, falling to just 3.7% (CAD88.8 billion) in 2020, which represented a shocking 43.8% loss.
The sector also supported almost 1.7 million jobs in 2019, falling to just below 1.4 million in 2020, when the pandemic devastated the sector.
Following the significant decline in 2020, the global tourism body’s latest EIR report reveals that 2021 saw the beginning of the recovery for Canada’s Travel & Tourism sector.
Last year, its contribution to GDP climbed 24.4% year on year, to reach CAD 110.4 billion.
The sector also saw a recovery of more than 116,000 Travel & Tourism jobs, representing a positive rise of 8.4% to nearly 1.5 million.
The sector’s contribution to the economy and employment could have been higher if it weren’t for the impact of the Omicron variant, which led to the recovery faltering around the world, with many countries reinstating severe travel restrictions.
Image Credit: © AA
The most interesting news
Hundreds evacuated as fire in southern France burns over 1,700 acres
More than 118,600 acres of land destroyed this year in forest fires in France.
Emirates adds flights to Mauritius
Boosts connectivity to Mauritius with thrice-daily services from 1 October 2022.
Boeing to resume 787 Dreamliner aircraft deliveries, says FAA
Deliveries were suspended for almost 2 years due to some flaws in manufacturing.
Strong facilities and services help Istanbul Airport outdo most European hubs
Thanks to maintaining its staffing levels during pandemic, Turkish Airlines now managing to meet boom in summer travel demand.
Lufthansa reaches agreement with ver.di on significant salary increases for ground staff
In the third round of negotiations, Lufthansa and the trade union ver.di have agreed on a new collective pay agreement for Lufthansa ground staff.
Finnish premier urges EU to restrict Russian tourism amid Ukraine war
EU should extend sanctions to limit travel by Russian citizens, says Prime Minister Sanna Marin.
Viking Celebrates 25 Years Of Award-Winning Exploration
Viking® (www.viking.com) is celebrating today the company's 25th anniversary and its leadership in travel. To commemorate the anniversary, Viking has released a new video message from Chairman Torstein Hagen as he reflects on the company's key miles
Qatar Airways to Resume Flights to Qassim, Saudi Arabia
The national carrier of the state of Qatar will operate more than 100 weekly flights to the Kingdom of Saudi Arabia.
Dominican Republic Among UNWTO Members Reporting Strong Tourism Rebound
UNWTO has warmly welcomed the first data on summer arrivals from its Member States.
Asia Pacific Travel Rush Driven by Need to Reconnect: Hilton Study
As pent-up travel demand continues to be unleashed across the region, a recent study by Hilton (NYSE: HLT) reveals that Asia Pacific consumers are quickly embracing travel once more with renewed motivations: to rebuild family bonds, and to revive the
Emirates invites First Officers to let their careers take flight
Emirates, the world’s largest operator of Airbus A380s and Boeing 777s, is looking to recruit First Officers who meet the airline’s exceptional standards in safety, technical prowess and customer experience.
Turkeys Amasra Harbor hosts 1st passenger ship
Cruise ship Astoria Grande with 350 passengers arrives at Black Sea harbor.
Kempinski Hotel Hangzhou Appoints Christoph Knichel As General Manager
Christoph Knichel has been appointed as the new General Manager of Kempinski Hotel Hangzhou and will take responsibility for all aspects of Kempinski Hotel Hangzhou’s operations and management to create a haven in a remarkable constellation with Eu
Poland’s First Curio Collection by Hilton Debuts in the Heart of Krakow
With a 200 year long legacy in Poland’s cultural capital, Hotel Saski Krakow, Curio Collection by Hilton couples carefully restored historic features with modern design elements.
W Hotels Open W Costa Navarino On the Greek Coast
W Hotels, part of Marriott Bonvoy's portfolio of 30 extraordinary hotel brands, today announced the opening of W Costa Navarino.
Kempinski Takes Over Beach Hotel in Cancun
White sandy beaches and a crystal-clear ocean await guests in the newest five-star addition to the Kempinski Hotels portfolio: Starting from September 2022, Europe’s oldest luxury hotel group will take over a luxurious beach hotel in the attractive
Strong travel summer for TUI Group
Strong travel summer for TUI Group: TUI continues to expect return to significantly positive underlying EBIT for the full year – First near-breakeven quarterly result since the pandemic already in Q3 2022 – Holiday Experiences segment and the Cen
WTTC welcomes Inflation Reduction Act of 2022
Global tourism body says provisions will help accelerate Travel & Tourism's climate commitments.
Emirates invests over US$ 2 billion to take its on-board customer experience to new heights
Priding itself on a brand promise of ‘Fly Better’, Emirates is investing over US$ 2 billion to enhance its inflight customer experience, including a massive programme to retrofit over 120 aircraft with the latest interiors, plus an array of other
Israeli airlines obtain permit to fly over Saudi airspace
Permission reduces trips between Israel, other destinations.
St Regis Hotels & Resorts Unveils Champagne Sabrage Masterclasses
Honoring St. Regis Hotels & Resorts’ long-standing tradition of sabrage, the brand is delighted to announce the launch of private champagne sabrage masterclasses at all properties across North America.