The internal tourism expenditure on food and beverage serving services in Canada was valued at 17.43 billion CAD in 2023. Analyzing the year-on-year variations, the data demonstrates a substantial growth trajectory from 2013 to 2019, with positive annual changes despite a dip in growth rates in 2019. Notably, 2020 saw a dramatic drop of 42.74% due to the pandemic, followed by a notable rebound in 2021 and remarkable recovery in 2022. The average change per year over the last five years showed a modest growth of 2.14%.
Forecasts indicate continued growth in expenditure over the next five years, with a predicted average annual increase of 2.38%, amounting to a cumulative growth rate of 12.46% by 2028. Observing these trends, stakeholders should watch for factors such as changes in tourism patterns, economic recovery rates, and consumer spending behaviors that could influence future expenditure on food and beverage services.
