Forecast: Internal Tourism Consumption of Tourism Characteristic Products in Canada

Canada’s internal tourism consumption of tourism characteristic products has shown dynamic change from 2013 to 2023. Initially, there was steady growth with an average year-on-year increase around 5% until 2019. In 2020, the COVID-19 pandemic caused a significant drop by 56.56%, but subsequent years saw a considerable recovery, peaking at 96.52% increase in 2022. By 2023, the internal tourism consumption stood at 74.35 billion Canadian dollars, marking a 16.8% year-on-year growth, reflecting resilience in the sector.

Forecasts for 2024 and beyond suggest a continued recovery with a projected 5-year CAGR of 2.46%, culminating in an expected internal tourism consumption of 86.83 billion Canadian dollars by 2028. This indicates a moderate and consistent growth trajectory.

Future trends to watch for include:

• Post-pandemic travel behavior shifts.
• Impact of inflation on travel costs.
• Adoption of sustainable tourism practices.
• Technological advancements in travel services.