Between 2013 and 2019, Tourism Direct Employment in Canada showed a modest upward trend, with year-on-year variations generally fluctuating around 1% and the Compound Annual Growth Rate (CAGR) varying around 0.5%. The COVID-19 pandemic severely impacted employment figures in 2020 and 2021, with a drastic decline of over 22% and 6.43% respectively. However, a significant recovery began in 2022, leading to a 30.53% increase in employment. By 2023, the employment rate rose by 4.09%, reaching 3.56 units.
Forecasts for 2024 and beyond suggest a stabilization in tourism employment, though with a slight downward trend. The 5-year projected CAGR indicates a minor decline of 0.17%, with a total decrease of 0.85% over this period.
Future trends to watch for in the tourism sector include the impact of global travel restrictions, economic recovery rates, and consumer confidence in travel. Monitoring these factors will be crucial for understanding and anticipating changes in employment within the tourism industry in Canada.
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