April 26, 2016 10:45 pm
There’s no denying that the weaker Canadian dollar has impacted how Canadians choose their travel plans.
Residents are considering more staycations and road trips this summer, while an increased rate of foreign visitors are heading to the big cities. Ultimately, the pace of Canada’s tourism growth is affected by higher prices and the financial concerns of consumers.
Cities Benefiting From The Rise In Staycations
Vancouver, Calgary, Edmonton, Quebec City, Montreal, Ottawa, Toronto, Winnipeg and Halifax are all feeling the benefits of higher inner country tourism. The dollar has helped make Canadian travel destinations more price competitive for other travellers, especially coming from the U.S. At the same time, lower gas prices are reducing costs of road trips for residents.
More Road Trips Mean More Local Spending
Not only are the bigger cities seeing a climb in tourism from other places due to the lower dollar; but the local spots that many Canadian residents enjoy are going to be focused on this summer. You can guarantee places in BC like the Okanagan Valley are going to see an increased number of local and Albertan visitors. The shift is also being seen where more residents are considering the area as their new destination for permanent residency, rather than just a vacation home.
Overnight travel from the U.S. is estimated to increase by 7% in 2016, with the strongest growth since 1998. But overall, travellers will pay an extra 2.8% for accommodations, 2.6% for transportation and 2.5% for food and beverage services this year due to the current economic climate. (1)
What You’ll See This Summer
If there’s something in Canada you’ve been itching to see, this is the “perfect time to do it,” said Esrock (2)
Staying in Canada this summer is going to be popular across the country, and the weak dollar and cheaper gas certainly has something to do with it. Due to the ability to travel by car for staycations, this summer is going to include a lot of road trips and local spending.
There are tons of activities going on in the Okanagan Valley to enjoy this summer.
Sources: 1. http://www.conferenceboard.ca/press/newsrelease/15-12-15/canadian_staycations_to_continue_to_trend_in_2016_but_prices_are_set_to_increase.aspx 2. http://www.cbc.ca/news/canada/calgary/low-cad-travel-tips-1.3415916
This post was written by Aldebaran Homes