Key Takeaways
- Canada launches ‘A World of Opportunity’ to boost tourism competitiveness and revenue.
- Strategy aims for $160 billion annual revenue by 2030.
- Collective action and innovation are key for success.
Destination Canada, the country’s national tourism marketing organization, has launched an ambitious new strategy called ‘A World of Opportunity’ aimed at transforming the sector and propelling Canada back into the top 7 global destinations for tourism by 2030.
The strategy was unveiled by Destination Canada President and CEO Marsha Walden and Tourism Minister Soraya Martinez Ferrada at the Rendez-vous Canada tourism marketplace in Edmonton on May 16. It sets a target of generating $160 billion in annual tourism revenue by the end of the decade, up from the industry’s current potential of $140 billion.
Canada has seen its global competitiveness in tourism decline in recent years, slipping to 13th place in the World Economic Forum’s Travel and Tourism Development Index in 2023 – its first time outside the top 10.
Walden warned that without a “transformative shift”, Canada risks stagnation and vulnerability to future economic shocks despite tourism currently outpacing growth in the wider economy.
“We know tourism is already outpacing the global and Canadian economies, but without a transformative shift, we risk stagnation and vulnerability to future economic shocks,” she said.
The new strategy outlines four key drivers for transformative growth: enhancing competitiveness through industry-identified levers, strategically targeting new visitor markets, developing destinations through investment in infrastructure and services, and empowering businesses with expanded data and insights.
Martinez Ferrada said the plan aligns with the federal government’s own Tourism Growth Strategy and will help the sector reach its full potential as a job creator across the country.
“Canada is a tourism superpower – because we have what the world wants,” she stated. “In a world where nations are investing in tourism, we’re ensuring that Canada can compete with the best.”
However, the strategy acknowledges that the tourism industry cannot deliver this growth alone and calls for “collective action” involving governments, businesses and communities.
Beth Potter, head of the Tourism Industry Association of Canada, said success will require operators to “innovate their offerings” by enhancing sustainability, promoting local experiences and expanding into new seasons.
Meanwhile, Keith Henry from the Indigenous Tourism Association of Canada welcomed the goal of tripling Indigenous tourism through the strategy as a path toward “true economic reconciliation.”
With the $160 billion revenue target representing over $20 billion in growth, Destination Canada is optimistic about the future if stakeholders buy into the new collaborative approach.
