Canada economy

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					                            Tourism and Canada’s Economy

  Importance of tourism to Canada’s economy
      Tourism activity in Canada represents about 2% of Canada’s overall GDP, with a
      GDP value similar to that of Agriculture, Fishing, Forestry and Hunting combined.

      Tourism’s contribution to Canada’s GDP reached $28.6 billion in 2007, a 5.9%
      increase over 2006.

      Tourism generated $21.2 billion in government revenues in 2007, up 4.3% over
      2006). Tourism generated over 653,400 jobs in 2007 (up 2.0% from 2006).

Canada’s Tourism Performance in 2007

  •   Total tourism spending reached $70.8 billion (up 6.1% from 2006).

  •   Domestic spending reached $54.6 billion (up 8.7% from 2006)

  •   Foreign spending fell to $16.2 billion (down 1.7% from 2006)

  •   Total U.S. spending fell to $8.08 million (down 7.0% from 2006)

  •   Total overseas spending reached $8.34 million (up 2.5% from 2006)

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Description: Despite a very challenging external environment, Canada’s economy has outperformed its G7 peers in many respects. It weathered the financial and economic crisis better than most industrialized countries and it staged an impressive turnaround. Real GDP grew 4.9 per cent (annualized) in the final quarter of 2009 and a resounding 5.6 per cent in the first quarter of 2010, fueled by a strong rebound in consumer spending, residential investment and government expenditures.