Could this be the year

By on Wednesday, June 3, 2015

Could this be the year that Canada finally recovers from its 15

The number of American visitors has climbed back to levels seen before the Great Recession, although it's still far off from thehighs seen just before 9/11."The steep drop in the Canadian dollar that followed the plunge in oil prices in 2014 provided a much needed boost to the travel sector," wrote Cooper. visits, especially, which have been steadily rising since dropping to a 20 year low in early 2014.The weak loonie likely also fuelled a surge of nearly 185,000 in the number of European visitors last year, according to the report.READ MORE:Think you don't need insurance when travelling in Canada? Think againCanada: beautiful, notjust cheapBut the exchange rate isn't the whole story, noted Cooper.Visitors from China and South Korea were up by cheap jerseys a whopping 164,000, or 23 per cent, in 2016, even though the Canadian dollar appreciated against China's Yuan and was roughly at parity with South Korea's Won last year.Similarly, the numberof Mexicans and Britons recorded double digit percentage increases despite sharp currency depreciation against the loonie. stood at an eight year high in 2016, according to Cooper.READ MORE:To buy or rent a cottage? These 5 questions will help you decideMore tourism jobs across CanadaRBC's analysis suggests growing visitorinflows may outlast currency swings and that would be good news for Canadian pocketbooks.The tourism industryaccounts for only 2 per cent of GDP but has expanded faster than the broader economy since 2014, according to RBC.The sector, which accounts for about 1.7 million jobs across the country, outpaced overall employed growth in most provinces, the RBC report shows."Nearly every province saw its share of tourism related employment increase to near record highs, with jobs in the sector making up anywhere from 7 11 per cent of total employment," wrote Cooper.Canada 150 effectCanada's big birthday bash will likely build on last year'smomentum, RBC notes.Guidebook giantLonely Planet and theNew York Times have both ranked Canada at the top of their list of places to visit in 2017, gushing over our country'sreputation for friendliness and national beauty.

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