The output of sports activities, amusement, and recreation activities in Canada saw a steady increase from 2013 to 2019, with year-on-year growth rates varying between 0.31% and 7.91%. However, 2020 experienced a severe decline of nearly 30% due to the COVID-19 pandemic. The sector rebounded robustly in 2021 and continued to grow through 2023, reaching a value of 12.51 billion CAD in 2023 with a 9.58% year-on-year increase. The five-year CAGR from 2019 to 2023 was approximately 3.01%, showing a moderate average growth rate per year despite the dip in 2020.
Future trends to watch for:
- Post-pandemic recovery continuation and its possible impact on long-term recreational and sports activities.
- Potential technological innovations, such as augmented reality sports and digital amusement options, that could drive further growth.
- Increased consumer spending on experiences rather than goods, influencing the recreation sector positively.