In 2024, the share of travel services imports in Canada's services imports is forecasted at 16.32%. From 2024 to 2028, a slight downward trend is observed, with the share decreasing annually, reaching 15% by 2028. This trend indicates a consistent, albeit gradual, decline with a Compound Annual Growth Rate (CAGR) reflecting a modest decrease each year.
Key trends to watch for in the future include:
- Fluctuations in international travel demand affecting the share of travel services.
- Potential shifts in Canadian consumer preferences towards domestic over international services.
- Impacts of global economic conditions and exchange rate fluctuations on travel services.