Canada’s tourism industry experienced a 4.9% growth in spending by international Visa cardholders, according to the 2014 Summer Travel Snapshot released by Visa Canada and the Tourism Industry Association of Canada (TIAC).
In addition, general retail purchases captured the largest share of tourism spending on Visa accounts with international travellers spending a combined $878 million, an 8.9% increase over 2013.
The 2014 Summer Travel Snapshot (May through September) reveals other interesting findings, including:
- The top 10 cities visited by travellers from the top five inbound countries – USA, China, France, the UK and Germany. The report also looks at five year trend data for the top 10 inbound countries.
- Insights into the categories of spending from the top five countries including visitors from China spending a much higher proportion on retail purchases than on lodging compared to US visitors.
- Top outbound country destinations for Canadians.
- Visa card spend by visitors to Canada and Canadians abroad from May to September 2013 – 2014.
Click the following for the full report:
“Visa’s global network connects thousands of financial institutions, tens of millions of merchants and billions of cardholders every day providing a unique opportunity to share spending trends and preferences over time. We are pleased to partner with TIAC to utilize this data in the first semi-annual Travel Snapshot and to support tourism growth in Canada,” said Robert Livingston, president, Visa Canada.
“The Travel Snapshot report gives the tourism industry great insight into where and how much Visa cardholders are spending in Canada. This data is vital as we work to better understand our customers and strengthen Canada’s competitiveness as a top global destination,” added TIAC interim CEO Rob Taylor.
Tourism is an $84 billion industry that directly employs over 600,000 Canadians in every region of the country. In 2013, 79% of tourism revenue came from domestic travellers. However, with international visitors spending on average three times more than their domestic counterparts, TIAC is looking to boost international travel by 5% to match global growth rates and capitalize on this booming industry.