New Travel Report Reveals Increased Spending by International Visitors During Summer 2014
2014 Summer Travel Snapshot from TIAC and Visa shows US visitors are top spenders with visitors from China ranking second; Top spending categories include retail and lodging with full-service restaurant spending up 9.4%
OTTAWA, ON, December 17, 2014 - Canada's tourism industry experienced a 4.9% growth in spending by international Visa cardholders, according to the 2014 Summer Travel Snapshot released by Visa Canada and the Tourism Industry Association of Canada (TIAC). In addition, general retail purchases captured the largest share of tourism spending on Visa accounts with international travellers spending a combined $878M, an 8.9% increase over 2013.
The 2014 Summer Travel Snapshot (May through September 2014) reveals other interesting findings including:
- The top ten cities visited by travellers from the top five inbound countries - USA, China, France, the UK, and Germany. The report also looks at five year trend data for the top 10 inbound countries.
- Insights into the categories of spending from the top five countries including visitors from China spending a much higher proportion on retail purchases than on lodging compared to US visitors.
- Top outbound country destinations for Canadians.
- Visa card spend by visitors to Canada and Canadians abroad from May to September 2013 - 2014.
"Visa's global network connects thousands of financial institutions, tens of millions of merchants and billions of cardholders every day providing a unique opportunity to share spending trends and preferences over time. We are pleased to partner with TIAC to utilize this data in the first semi-annual Travel Snapshot and to support tourism growth in Canada," stated Robert Livingston, President, Visa Canada.
"The Travel Snapshot report gives the tourism industry great insight into where and how much Visa cardholders are spending in Canada. This data is vital as we work to better understand our customers and strengthen Canada's competitiveness as a top global destination," added TIAC interim CEO Rob Taylor.
Tourism is an $84 billion industry that directly employs over 600 000 Canadians in every region of the country. In 2013, 79% of tourism revenue came from domestic travellers. However, with international visitors spending on average 3 times more than their domestic counterparts, TIAC is looking to boost international travel by 5% to match global growth rates and capitalize on this booming industry.
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For more information, please contact:
President & CEO (Interim)
Tourism Industry Association of Canada