Market Size of Canada Travel And Tourism Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 16.19 Billion |
| Market Size (2029) | USD 17.20 Billion |
| CAGR (2024 - 2029) | 1.17 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Canada Travel And Tourism Market Analysis
The Canada Travel And Tourism Market size is estimated at USD 16.19 billion in 2024, and is expected to reach USD 17.20 billion by 2029, growing at a CAGR of 1.17% during the forecast period (2024-2029).
The expansion of the travel market in Canada will likely benefit from the government's increased efforts to revive the economy by injecting money into the system and helping a variety of businesses launch new ventures. Additionally, it is anticipated that the evolving trend of transformational travel, which focuses on wellness travels to heal, balance, and transform the mind, spirit, and body, will drive throughout the projection period. The travel and tourist industry in Canada also includes firms that provide food and drink, lodging, financial services, entertainment, and travel brokers. One of the most competitive and well-established markets is the travel and tourism sector in Canada. The standard of the services being provided determines the market's viability.
Because of COVID-19, there was uncertainty about everything from policies for refunds (for hotel reservations, airline tickets, and corporate event planners) to various entry requirements at international borders, such as the number of nationals who could be admitted, the conditions under which they could be admitted, the length of the quarantine, and other requirements.
