Fast Market Research

Market Report, "the Future of Travel and Tourism in Canada to 2016", Published

New Consumer Goods market report from Timetric: "The Future of Travel and Tourism in Canada to 2016"

 
Repost This

Boston, MA -- (SBWIRE) -- 01/15/2013 -- The Travel and Tourism Competitive Index (TTCI) ranked Canada as the second-most-attractive destination in the Americas - and the ninth worldwide - to develop business in the travel and tourism sector in 2011. Canada's travel and tourism sector contributed 4.6% to national GDP in 2011, and accounted for 13.9% of the country's total employment. During the review period, the total number of trips undertaken by residents, both domestic and outbound, increased from 239.8 million in 2007 to 264.8 million in 2011, registering a CAGR of 2.50%. The key drivers for this growth are a rebound in the economy, increasing employment, rising disposable incomes and government initiatives to improve tourism in the country.

Key Highlights

- The Travel and Tourism Competitive Index (TTCI) ranked Canada as the second-most-attractive destination in the Americas - and the ninth worldwide - to develop business in the travel and tourism sector in 2011.
- During the review period, the total number of trips undertaken by residents, both domestic and outbound, increased from 239.8 million in 2007 to 264.8 million in 2011, registering a CAGR of 2.50%.
- According to the United Nations World Tourism Organization (UNWTO), Canada accounted for the third-largest number of inbound tourist arrivals in the Americas in 2011. There were 30.9 million inbound tourist arrivals in the country in 2011, with the US, UK and France accounting for 88.4% of total inbound arrivals.
- Canada's tourism sector relies heavily on domestic tourism, and in 2011, domestic tourists accounted for 79% of total tourism spending in the country.
- The government launched its Federal Tourism Strategy to enhance the competitiveness of the tourism sector and position it for long-term growth. By 2015, Canada intends to generate US$100 billion in tourism revenue and the Federal Tourism Strategy will help meet this target.
- According to the World Economic Forum (WEF), Canada is ranked first for its air transport infrastructure. The country also got a high rating for its tourism and information and communication technology (ICT) infrastructure, and is ranked fourth for its policy rules and regulations, denoting that they are conducive for the development of the tourism sector and the airlines industry.
- Investors in the Canadian hotel industry have largely been domestic in the past because foreign investors were more attracted towards large markets such as the US and the fast-growing Asian markets. However, hoteliers expect the scenario to change with more foreign investors entering into the financially stable Canadian market, which offers good prospects for capital growth.

View Full Report Details and Table of Contents

Companies Mentioned in this Report: Air Canada Inc, WestJet Airlines Ltd, Chorus Aviation Inc., Air Transat AT Inc., Porter Airlines, Fairmont Raffles Hotels International Inc, Westmont Hospitality Group, Inc., InterContinental Hotels Group, Best Western International, Delta Hotels & Resorts, Discount Car & Truck Rentals Ltd, Alltime Car Rental Corporation, Budget Rent-A-Car BC Ltd, RIZ Rent a Car and Truck Ltd, CanaDream Corporation, Expedia Canada Corp., Flight Network, Red Tag Vacations, Voyages a Rabais, Sunwing Travel Group Inc

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Consumer Goods research reports at Fast Market Research

You may also be interested in these related reports:

- The Future of Travel and Tourism in South Korea to 2016
- The Future of Travel and Tourism in India to 2016
- The Future of Travel and Tourism in China to 2016
- The Future of Travel and Tourism in Brazil to 2016
- The Future of Travel and Tourism in Russia to 2016
- Future of Travel and Tourism in Mexico to 2016
- The Future of Travel and Tourism in Turkey to 2016
- The Future of Travel Intermediaries in the Philippines to 2016: Market Profile
- The Future of Travel Intermediaries in South Korea to 2016: Market Profile
- The Future of Travel Intermediaries in Brazil to 2016: Market Profile