A total of $59.2 billion financial loss and a 53 percent decrease in contribution to GDP has been caused by the Coronavirus pandemic to Canada’s travel and tourism sector last year.
In addition, the devastating situation provoked by the COVID-19 left 373,000 people engaged in the country’s travel and tourism sector jobless, facing many difficulties.
According to WTTC’s Senior Vice President, Virginia Messina, such losses revealed by the World Travel & Tourism Council (WTTC) ’s Economic Impact Report (EIR) have left “huge numbers of people fearing for the future”.
Based on EIR’s report, in 2019, Canada’s travel and tourism sector contribution to GDP was $111.6 billion or 6.4 percent, while just 12 months later, it marked a 3.2 percent decrease to $52.4 billion.
In addition, the number of women, youth, and minorities employed in the travel and tourism sector in the North American country declined from 1.8 million in 2019 to 1.4 million in 2020, or (20.9 percent decrease).
Domestic visitor spending decreased by 51 percent last year. In comparison, international spending dropped by 71.1 percent due to stringent travel restrictions imposed to prevent the virus’s further spread.
Even though the decrease in the travel and tourism sector was profound last year, the figures could have been worse if not for the government’s Emergency Wage Subsidy scheme, which helped employers keep their jobs amid the COVID-19 situation, EIR’s report stressed.
“However, the situation could have been far worse if it were not for the government’s Emergency Wage Subsidy scheme which supported up to 75 percent of wage subsidy to eligible employers and in turn, allowed many to keep their jobs in the suffering Travel & Tourism sector,” WTTC’s Senior Vice President pointed out.
Read more details about this news here.