About Tourism

Canada’s economy is expected to grow 4.5% per year from 2024 to 2030. Spending within Canada’s tourism industry will grow faster than the overall economy, increasing at an annual rate of 5.8%.

According to Destination Canada, tourism in 2019 generated $105 billion in revenue, supported approximately 1 in 10 jobs in communities like ours across Canada and contributed an estimated $43.6 billion in Gross Domestic Product.

 

 

Tourism Highlights:

  • Overall tourism spend from leisure and business travel is projected to exceed preCOVID levels in 2023, reaching $109.5 billion (104% of 2019 levels), earlier than previously forecasted and largely driven by inflation.
  • By the end of this year, leisure revenue alone will stand well above 2019 levels. However, overall visits are not projected to recover to pre-COVID levels until 2024 when they will reach 101% of 2019 levels.
  • Domestic spend is on track to reach 107% of 2019 levels by the end of 2023 reaching $82 billion. Canadians are set to spend more on tourism goods and services – engage in more trips – in 2023 than they did pre-COVID.
  • Over the last two years leisure was the main driver of travel, recovering to 2019 levels in 2022 with $72.4 billion in revenue.
  • However, business travel is picking up. Total spending by business travellers will recover to $14.4 billion in 2024, reaching 102% of 2019 levels, but will still lag behind leisure spending.
  • Overall, the number of guests on business trips to Canada from domestic and international origins will reach prepandemic levels in 2026.
  • Business events travel, which includes corporate meetings and association conferences or incentives, will recover by 2028.
  • International visits will surpass 2019 levels in 2025, with the US remaining Canada’s largest market. International visits were at 22.1 million in 2019 and these levels will be surpassed in 2025 reaching 23.5 million visitors.
  • International tourist visits have grown swiftly, climbing 319% in 2022 and a projected 47% in 2023, year-over-year. Growth in visits is projected to increase by 13% next year despite a weak global economic outlook for 2024. The United States will remain the largest single source of visitors and tourism spending.
  • By 2030, China will be the largest overseas market for spending and second for visits.

Destination Canada – Quarterly Tourism Snapshot

Tourism in Ontario: 

  • Tourism receipts – 38B.
  • 4.1 per cent of provincial GDP.
  • Tourism employment represents 5.2% of provincial employment.
  • Ontario consumer spending on tourism: 7.4%.

Tourism in Oakville:

The Town of Oakville is located within the Hamilton, Halton and Brant (region 3) collection of Ontario’s regional tourism designations.

2022 statistics from Ontario Ministry of Tourism Culture and Sport:

  • This region welcomed 7,762,381 visitors in 2022.
  • Visitor spending in this region totaled just over $704 million.
  • Visitors from other Canadian regions spent more on food and beverage than the other categories. Followed by transportation.

For more information about Visit Oakville, follow this link: visitoakville.com.