ALBANY, N.Y. — Research firm Canadean has released its “Travel and Tourism in Canada to 2020” report, which analyses 2015 industry results and forecasts the next five years.
According to the report, American tourists flocked to Canada last year, taking advantage of the weaker Canadian dollar. This trend is expected to continue through 2016.
The low dollar has also made outbound travel costlier, which is expected to benefit domestic tourism over the coming years. Domestic trips are projected to grow at a compound annual growth rate of 4.3 per cent to reach 142.8 million by 2020.
International tourism is also expected to continue its positive trend. In 2015, international arrivals increased by 6.3 per cent and are expected to grow at an average annual rate of 4.7 per cent, reaching 23 million by 2020.