Tour Operators in Canada - Industry Market Research Report
Description
Tour Operators in Canada
Canadian tour operators have been extremely volatile in recent years. With the domestic economy's expansions prior to the COVID-19 pandemic, international trips taken by Canadians increased. Greater international exposure for the Canadian tourism industry, coupled with overall global economic growth, motivated more foreigners to visit and book tours in Canada, leading to increased inbound international travel. The COVID-19 pandemic shocked the global tourism sector, with countries closing borders, government authorities keeping only essential businesses open and strict travel restrictions being put in place. Many travellers cancelled their trips while people that were planning trips ended up delaying them indefinitely, decimating demand for tour operators as revenue fell nearly 90.0% between 2019 and 2021. Revenue is forecast to decline at a CAGR of 7.3% to $7.3 billion over the five years to 2023. This includes an increase of 26.3% in 2023 as the tourism industry continues to normalize and COVID-19 restrictions are fully removed. Tour operators are also expected to return to profitability in 2023.
Companies in the Tour Operators industry in Canada primarily arrange, market and conduct tours, including wholesale tours, of cities, museums, natural attractions and other places of interest. The industry excludes companies that primarily provide travel information on an area’s attractions (IBISWorld report 56159CA), as well as travel agencies (IBISWorld report 56151CA).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Canadian tour operators have been extremely volatile in recent years. With the domestic economy's expansions prior to the COVID-19 pandemic, international trips taken by Canadians increased. Greater international exposure for the Canadian tourism industry, coupled with overall global economic growth, motivated more foreigners to visit and book tours in Canada, leading to increased inbound international travel. The COVID-19 pandemic shocked the global tourism sector, with countries closing borders, government authorities keeping only essential businesses open and strict travel restrictions being put in place. Many travellers cancelled their trips while people that were planning trips ended up delaying them indefinitely, decimating demand for tour operators as revenue fell nearly 90.0% between 2019 and 2021. Revenue is forecast to decline at a CAGR of 7.3% to $7.3 billion over the five years to 2023. This includes an increase of 26.3% in 2023 as the tourism industry continues to normalize and COVID-19 restrictions are fully removed. Tour operators are also expected to return to profitability in 2023.
Companies in the Tour Operators industry in Canada primarily arrange, market and conduct tours, including wholesale tours, of cities, museums, natural attractions and other places of interest. The industry excludes companies that primarily provide travel information on an area’s attractions (IBISWorld report 56159CA), as well as travel agencies (IBISWorld report 56151CA).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Table of Contents
38 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
