Ottawa, ON November 29, 2017
- 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
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,
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