In 2023, the number of tourist accommodation nights in Canada was recorded at 264.53 million. Moving forward, the forecasted data for 2024 through 2028 show a gradual decline: 262.56 million in 2024, 260.65 million in 2025, 258.77 million in 2026, 256.94 million in 2027, and 255.14 million in 2028. The year-on-year variation indicates a decrease of approximately 0.75% from 2024 to 2025 and a further decrement of around 0.72% from 2025 to 2026. The average compound annual growth rate (CAGR) for the years 2024 to 2028 is approximately -0.74%.
Future trends to watch for include changes in international travel patterns, economic conditions, and the impact of potential new tourism policies. Additionally, technological advancements and evolving consumer preferences may significantly shape the tourist accommodation market.
