Forecast: International Tourism Receipts for Travel Items in Canada

The forecast for international tourism receipts for travel items in Canada shows a consistent upward trend from 2024 to 2028, starting at $31.77 billion in 2024 and reaching $35.375 billion in 2028. These values represent a steady year-on-year increase: 2.88% from 2024 to 2025, 2.77% from 2025 to 2026, 2.67% from 2026 to 2027, and 2.57% from 2027 to 2028.

Comparing these projections with the actual data from 2023, where receipts were at $30.90 billion, the anticipated growth showcases a positive trend. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 2.72%, indicating a healthy growth rate for the sector over the forecast period.

Future trends to watch for:

• Technological advancements in travel and tourism, potentially increasing efficiency and convenience.
• Changes in global economic conditions that could impact travel spending.
• Environmental policies and sustainability efforts influencing travel behaviors.
• Market competition and new travel destinations emerging globally.