Canada’s travel industry continues to see robust growth in 2024 with sales, inbound arrivals and outbound departures all set to exceed pre-pandemic levels. Despite this, a challenging economic environment and high inflation, has resulted in travel seeing slower growth in 2024 compared to 2023 both in value and volume terms.
Air Canada Inc and WestJet Airlines Ltd continue to dominate the airlines market in Canada in 2024. WestJet consolidated its position as Air Canada’s main rival after the government of Canada approved its acquisition of Sunwing and Swoop in 2023.
Hotels are new embracing new technology, sustainability, and personalised experiences as they look to adapt to evolving guest preferences and lodging industry trends. While there has been an increase in the number of luxury and upscale branded hotels in 2023 and 2024, mid-market and budget hotels still account for 75% of the available outlets in Canada.
Booking is set to see a full recovery to pre-pandemic sales levels in current value terms by the end of 2024. Booking online continues to take share from booking offline.
The outlook for travel in Canada looks fairly bright although challenges and obstacles will likely remain. Demand for travel is projected to keep growing although it might outpace capacity, especially during peak seasons, which might limit growth potential.
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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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