Canadians continue to have a good appetite for travel with many determined to resume their travel activities after the government removed all COVID-19 restrictions in the second half of 2022. As a result, the travel industry is expected to continue growing at a rapid pace in 2023.
The easing of COVID-19 travel restrictions brought a return of leisure and business travel in the second half of 2022, a trend that has continued into 2023. Low cost and full-service carriers are expected to stand at 80% and 90% of pre-pandemic levels, respectively, in terms of sales and number of travellers.
Strong leisure travel and a rapid rebound in the average daily rate in the main destination cities in Canada are producing a strong hotel performance in 2023. Overnight visits from the US continues to recover, along with visitation from other key international markets, especially Europe.
Leisure travel remains dominant, as business travel’s recovery continues to struggle. Most leisure categories are expected to recover pre-pandemic levels by the end of 2023.
Inflationary pressures, economic uncertainty and labour shortages will be some of the main challenges that the travel industry will have to face for the remainder of 2023 and the forecast period. As Canadians become more environmentally conscious and intend to make more sustainable decisions, the availability of sustainable travel products and experiences will play a key role in the travel industry in the upcoming years.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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