From 2013 to 2019, inbound tourism expenditure on passenger transport services in Canada displayed a consistent upward trend, peaking at 6.98 billion CAD in 2019. The COVID-19 pandemic caused a significant drop to 1.32 billion CAD in 2020, and further to 1.14 billion CAD in 2021. Recovery began in 2022, bringing expenditure back to 6.0 billion CAD, and growth surged by 22.98% in 2023 to reach 7.38 billion CAD. Projected values indicate continued growth, reaching 8.43 billion CAD by 2028, with a five-year CAGR of 2.09% from 2023 onwards.
Future trends to watch for include potential fluctuations due to geopolitical stability, economic shifts affecting travel affordability, and innovations in transportation technology which could impact tourism dynamics significantly. Monitoring these factors will be crucial for anticipating changes in inbound tourism expenditure.
