A new report from the World Travel & Tourism Council predicts the Canadian tourism and travel industry is poised for a major rebound and is close to recovering to 2019 levels. The council’s 2023 Economic Impact Research (EIR) reveals the Canadian Travel & Tourism sector continues to show strong signs of post-pandemic recovery. According to the latest report, the sector is set to contribute $162.6 billion to the Canadian economy this year, up 17.2% from last year and within touching distance of the previous peak of $173.9 billion in 2019. WTTC is also forecasting that Travel & Tourism will create Read more
World Travel and Tourism Council
World tourism and travel is almost back to pre-pandemic levels, and 2024 should see travel numbers surpassing 2019 levels. The World Travel & Tourism Council’s Economic Impact Research shows the Travel & Tourism sector has reached more than 95% of its 2019 peak. In 2023, the sector is forecast to reach $9.5 trillion (USD) in spending, just five per cent below 2019 pre-pandemic levels, when travel was at its highest. Thirty four countries around the world have already exceeded 2019 levels. In 2021 the global sector grew 24.7% year-on-year, and last year it grew a further 22% to reach a GDP Read more
A top Air Canada executive says business travel in Canada could reach pre-2019 levels by the end of this year. There’s also encouraging news about a Canadian leisure travel rebound. In an interview with Reuters, Air Canada Chief Commercial Officer Lucie Guillemette said Canada could even be close to pre-pandemic business travel numbers by Labour Day. “We’re actually very encouraged,” she said this week. “We’re certainly not close to 2019 levels yet, but we are thinking, based on what we’re seeing, most probably by the time we hit Labour Day, or get into 2023 it should be quite close.” That’s Read more
Business travel is on the mend, according to a new study from the World Travel and Tourism Council and McKinsey & Company consultants. The latest WTTC/McKinsey report suggests that, following a 61% decline in 2020, global business travel spending is expected to rise by 26% this year and by 34% in 2022. Overall, they expect business travel to recover to two-thirds of 2019 levels by next year. But the report, titled Adapting to Endemic Covid-19: The Outlook for Business Travel, says recovery will vary by region. In the Asia-Pacific region, business travel is expected to rise 32% this year and Read more
With the Canadian tourism and travel sectors in a state of disaster, some of the world’s most important and influential business leaders and the World Travel and Tourism Council today demanded action from Canadian Prime Minister Justin Trudeau. “The World Travel & Tourism Council (WTTC) has urgently called on the Canadian government for strong leadership and unprecedented international collaboration, to save the struggling Travel & Tourism sector and recover the millions of jobs already impacted,” said the letter, obtained by TravelPulse Canada. “Over 100 of the world’s major travel and global business leaders, from major airlines, airports, hotels, tour operators Read more
