Canada Sees Surge in Domestic Visitor Spending
Skift Take
Canada's domestic visitor spending is projected to grow more than 8.3%, more than double the year-on-year growth from last year. Plus, hotel deals and development news.
The DJIA rose 114 points while the Nasdaq was up 98, the S&P 500 was up 14, and the 10-year treasury yield was down another .04 to 4.05%. Lodging stocks were modestly lower. The only mover of note was SOND, down 7% on the day.
Canada’s travel and tourism sector is forecast to contribute almost $183 billion to the economy in 2025, setting a new record and continuing the country’s growth streak, according to new data from the World Travel & Tourism Council (WTTC). In 2025, domestic visitor spending is projected to reach nearly $104 billion, more than double the year-on-year growth from last year (8.3%). International visitor spending is continuing to recover, forecast to hit $34 billion, just 2.9% below 2019 levels. WTTC forecasts that by 2035, Canada’s travel and tourism sector will contribute $233.5 billion to the national economy, 6.3% of GDP, and support more than 2.1 million jobs. International visit
