OTTAWA, Nov. 29, 2017 /CNW/ - International Visa cardholders spent $4.4 USD billion in Canada from May to September 2017, according to the 2017 Summer Travel Snapshot released today by Visa Canada and the Tourism Industry Association of Canada (TIAC). The report highlights a 12.1% increase over what visitors spent in 2016, with the United States once again ranked the top spender, followed by China and France.
Quick facts from the 2017 Summer Travel Snapshot:
- A breakdown of U.S. visitor spending by state reveals California, New York and Washington are leading for the third year in a row
- The top five countries with visitors to Canada - USA, China, France, the UK and Germany
- Insights into international visitor spending reveal they spend almost seven times more on sit-down restaurants than quick-serve restaurants (i.e. fast food).
"Visa Canada is pleased to once again partner with the Tourism Industry Association of Canada to present the annual Summer Travel Snapshot," said Stacey Madge, Country Manager and President, Visa Canada. "As Canada sees an increase in international visitors, we will continue to deliver innovations that provide travellers' with safe and seamless new ways to pay. Whether they are shopping in store, online or on-the go, Canadians travelling abroad and visitors to our country can count on Visa's fast, convenient and secure payment experience."
"The Travel Snapshot provides invaluable insights tourism businesses are able to capitalize on, as visitor spending patterns and impact from market trends are reflected in the numbers" said Charlotte Bell, President and CEO, TIAC. "With 2018 forecasting even higher numbers of expected inbound travel, this report aligns with the path TIAC has set for companies across Canada to be ready to meet the demands of an increasingly competitive international visitor market."
With over 200,000 businesses in Canada employing 1.7 million Canadians, the tourism industry is a major economic driver worth $91.6 billion and is Canada's largest service export, generating an estimated $20 billion in export revenues annually. Tourism is Canada's largest employer of youth with over half of the workforce under the age of 35. Summer 2017 has been a great year for tourism, with visitation increasing by more than 340 000 international travellers between May and August. TIAC believes tourism's market trends pave the way for Canadian businesses to remain a catalyst of economic prosperity and employment across the country.
The Tourism Industry Association of Canada (TIAC) is the only national organization representing the full cross section of the tourism industry in Canada. Our membership is derived of businesses representing transportation, accommodations, destinations and attractions from coast to coast to coast. TIAC's mission seeks to encourage a healthy Canadian tourism market by increasing international visitation to Canada.
About Visa Inc.
Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.ca, visacorporate.tumblr.com and @VisaNewsCA.
SOURCE TOURISM INDUSTRY ASSOCIATION OF CANADA
For further information: Marcela Diaz, Director of Public Affairs and Communication, Tourism Industry Association of Canada, 613-238-6378, [email protected]