Tourism in Canada shoots up despite weak Canadian dollar

Published on : Friday, January 6, 2017

destination canadaConsidering the last 20 years, tourism spending in Canada increased the most in the third quarter of 2016. This was pushed up in part by a weak Canadian dollar that has cut the cost of travel. As per Statistics Canada, total spending by foreign and domestic tourists increased by 2.2% from the second quarter to hit $21.3 billion, the largest percentage increase since the second quarter of 1997. To quote Rob Taylor of the Tourism Industry Association of Canada, “It is a perfect storm of a lot of great conditions.” He said that the slumped domestic currency is keeping Canadians at home and attracting foreigners.

The Canadian dollar has dropped in value on the back of a slide in oil prices. Last summer one U.S. dollar bought around C$1.32, compared to C$1.06 two years previously. Taylor said that Prime Minister Justin Trudeau, a close ally of U.S. President Barack Obama could be another reason for Canada’s popularity. He has traveled the world for promoting the image of Canada as a progressive nation. The New York Times has ranked Canada as No. 1 in its list of top 52 places to go in 2017. The Lonely Planet travel guide last October named Canada as the world’s top tourist destination for 2017, citing Canada’s PM as a reason for its popularity.

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