According to GlobalData, the Canadian government’s plans to connect 98% of Canadians to high-speed internet by 2026 will only accelerate online travel demand.
The global data and analytics company points out that the online travel intermediary market value already easily exceeds that of offline, reaching US$14.1 billion in 2019 compared to US$9.2 billion for in-store in Canada.
GlobalData said that a significant investment of US$1.75 billion to develop universal broadband across Canada will only increase internet penetration and accelerate online travel bookings.
In its third quarter 2019 consumer survey, GlobalData found that Canadian tourists’ booking trends favoured online travel platforms.
Johanna Bonhill-Smith, travel & tourism analyst at GlobalData, said that: “GlobalData forecasts international departures from Canada will decline by a staggering 43.9% over 2020 due to COVID-19 and associated international travel restrictions. Therefore, travel and tourism companies are facing significant difficulties.”