The amusement and recreation industries in Canada have seen significant fluctuations in revenue over the past decade. From 2013 to 2019, the industry experienced consistent growth, peaking at 3.19 billion CAD in 2019. However, the sector faced a steep decline in 2020 due to the COVID-19 pandemic, plunging by nearly 24%. A modest recovery started in 2021, and by 2023 the industry had reached 3.48 billion CAD, indicating a healthy rebound. The year-on-year growth from 2022 to 2023 was 9.57%, and the compound annual growth rate (CAGR) over the past five years stands at 2.94%.
Looking forward, the forecast shows continued growth, with revenues expected to reach 4.11 billion CAD by 2028. The forecasted CAGR for the next five years is 2.56%, resulting in an overall growth rate of 13.5% from 2024 to 2028.
Future trends to watch for include the impact of technological advancements such as virtual reality and augmented reality on amusement experiences, sustainable and eco-friendly recreational activities, and the potential shift in consumer preferences towards outdoor and wellness-focused activities post-pandemic.
