Paul Martin’s Business Update – January 14th, 2015

It might be the value of the Canadian dollar or it could just be that we are more interested in seeing our own country but tourism spending by Canadians who have opted for domestic travel is rising.

At the same time, foreigners are spending more on tourism in Canada as well.

National figures are tourism expenditures are tracked quarterly and all this activity has resulted in the tenth consecutive quarterly increase in tourism-related jobs as well.

Opting to do more domestic travel may well be the result of a declining Canadian dollar which is making travel abroad, particularly to the US, more expensive. Conversely it is cheaper for Americans to come here which may be a factor in the international visit spend going up in the latter part of 2014.

However, it is more likely that we’re simply spending more on vacations as 12 of the last 13 quarters saw increases in the amount we were laying out for domestic tourism activity, significantly stronger than foreign spending in Canada which was up only six out of the last ten quarters.

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