Published on : Friday, December 1, 2017
International Visa cardholders spent $4.4 USD billion in Canada from May to September 2017, according to the 2017 Summer Travel Snapshot released by Visa Canada and the Tourism Industry Association of Canada (TIAC). The report highlights a 12.1% increase over what visitors spent in 2016, with the United States once again ranked the top spender, followed by China and France.
Quick facts from the 2017 Summer Travel Snapshot:
“Visa Canada is pleased to once again partner with the Tourism Industry Association of Canada to present the annual Summer Travel Snapshot,” said Stacey Madge, Country Manager and President, Visa Canada. “As Canada sees an increase in international visitors, we will continue to deliver innovations that provide travellers’ with safe and seamless new ways to pay. Whether they are shopping in store, online or on-the go, Canadians travelling abroad and visitors to our country can count on Visa’s fast, convenient and secure payment experience.”
“The Travel Snapshot provides invaluable insights tourism businesses are able to capitalize on, as visitor spending patterns and impact from market trends are reflected in the numbers” said Charlotte Bell, President and CEO, TIAC. “With 2018 forecasting even higher numbers of expected inbound travel, this report aligns with the path TIAC has set for companies across Canada to be ready to meet the demands of an increasingly competitive international visitor market.”
With over 200,000 businesses in Canada employing 1.7 million Canadians, the tourism industry is a major economic driver worth $91.6 billion and is Canada’s largest service export, generating an estimated $20 billion in export revenues annually. Tourism is Canada’s largest employer of youth with over half of the workforce under the age of 35. Summer 2017 has been a great year for tourism, with visitation increasing by more than 340 000 international travellers between May and August. TIAC believes tourism’s market trends pave the way for Canadian businesses to remain a catalyst of economic prosperity and employment across the country.