Forecast: Tourism International Receipts in Canada

From 2013 to 2019, Canada's international tourism receipts experienced a generally positive trend, showing year-on-year increases with occasional declines. The value stood at $24.19 billion in 2013 and rose to $33.41 billion by 2019. The average annual growth rate was positive prior to the pandemic.

In 2020, the COVID-19 pandemic resulted in a substantial drop of 57.83% in international tourism receipts, followed by a slight recovery in 2021 with a 1.03% increase. The receipts rebounded strongly in 2022 with a dramatic 110.86% rise. In 2023, the value stood at $34.8 billion, with a year-on-year increase of 15.96%.

Looking forward, the forecast from 2024 onwards shows a steady increase in international tourism receipts, with a forecasted value reaching $38.99 billion by 2028. The forecasted 5-year CAGR is 1.8%, indicating a moderate but steady growth trajectory.

Future trends to watch for:

- Recovery and growth strategies post-COVID-19.

- Impacts of global economic conditions on tourism.

- Influences of climate change and sustainability trends on travel preferences.

- Advancements in technology enhancing traveler experiences.