Internal tourism expenditure on passenger transport services in Canada stood at 27.39 billion Canadian Dollars in 2023. The data shows that the expenditure suffered significantly in 2020 and 2021 due to external factors, notably the pandemic, but rebounded strongly from 2022 onwards. The recent year-on-year variation of 20.6% in 2023 indicates a robust recovery, and the compound annual growth rate over the last five years is 2.51%. Future forecasts predict a steady, albeit slower growth rate, with the CAGR expected to be 2.35% from 2024 to 2028, showing a 12.34% growth over the period.

Future trends to watch for include:

The potential impact of fluctuating fuel prices and environmental regulations on transport costs.
Technological advancements in transport services, including the adoption of electric and autonomous vehicles.
Changes in consumer travel preferences and behaviors post-pandemic.
Economic factors like inflation and income levels influencing discretionary spending on tourism.
Policy shifts that could impact tourism promotion and infrastructure investments.