Forecast: Internal Tourism Consumption of Accommodation Services for Visitors in Canada

In 2023, Canada's internal tourism consumption of accommodation services for visitors reached 17.28 billion Canadian Dollars. Over the last two years, there has been a noticeable recovery with year-on-year variations of 54.6% in 2022 and 15.11% in 2023, following the significant drop due to the COVID-19 pandemic in 2020. The Compound Annual Growth Rate (CAGR) over the past five years stands at 2.18%, indicating a stable yet modest recovery.

Looking forward, the forecast suggests continued growth with a forecasted five-year CAGR of 2.51%, translating to a 13.21% total growth by 2028. Future trends to watch include:

• Continued recovery post-COVID-19 with potential gains as international tourism resumes fully.
• Influence of economic factors such as inflation and disposable income on domestic travel spending.
• Emerging travel trends like sustainability and digital solutions shaping consumer preferences.