The hospitality employment market in Canada experienced a steady growth from 2013 to 2019, with year-on-year increases ranging from 0.41% to 4.34%. However, the industry faced a steep decline in 2020, with a 34.92% decrease, primarily due to the COVID-19 pandemic. A recovery began in 2021 and accelerated in 2022, with year-on-year increases of 3.12% and 39.57%, respectively.
In 2023, the sector stood at 145.3 thousand jobs, marking an 8.56% increase from the previous year. The Compound Annual Growth Rate (CAGR) over the last five years turned positive at 0.92%, reflecting a more stable recovery phase.
Forecasts from 2024 onwards predict modest year-on-year growth, with an overall five-year forecast CAGR of 0.73% and a projected total growth of 3.7% by 2028. Key factors to watch for include technological advancements in service delivery, evolving consumer preferences post-pandemic, and potential impacts of global economic conditions on tourism rates.
