TORONTO — Are foreign tourists finally cluing in to Canada’s charms? Canada went through a 15-year tourism slump after 9/11, as security-conscious Americans stayed home in droves, a trend exacerbated by the financial crisis and a strong loonie, RBC Economics reported.
“The steep drop in the Canadian dollar since oil prices plunged in 2014 has provided a boost to the travel sector. But Americans lured by a low loonie aren’t the only ones visiting,” said Economist Laura Cooper. “Last year, a record one in five tourists who came to Canada were from countries other than the United States, double the rate seen a decade ago.”
That, alongside the Canadian government’s efforts to promote the country’s 150th birthday, has set the stage for Canada to post a record year for tourism in 2017,” she explained.
RBC Economics has prepared a report on Canadian tourism that can be downloaded free.
SOURCE: RBC Economics press release