United Kingdom
United States
Asia Pacific
Economist: Canadian Business Travel may slow
The business travel industry in Canada is bound to feel the effects of the economic slowdown in the US, according to a senior economist from Scotiabank.
That impact could also be felt in the meetings market.
Canada’s business travel industry is expected to continue growing, but at a slower rate compared to recent years, said economist Adrienne Warren.
She said most service sectors are not as exposed to troubles in the US as other parts of the Canadian economy, but travel and tourism will likely be an unfortunate exception.
“We have already seen some pressure from the high Canadian dollar, at least in terms of US travel to Canada,” she said.
“In terms of the travel industry that probably means higher fuel costs, higher air fares,” she said.
“We saw some announcements today from Air Canada and WestJet, passing on higher prices. You can carry it for so long, but eventually these prices will begin to creep into restaurant prices, hotel prices.”
Although she later added that the price of oil might return to the range of US$95/barrel, she said the problem will not go away in the next couple of years. “Get used to it,” she advised.
She made her remarks to more than 225 travel managers and suppliers during a two-day conference sponsored by the National Business Travel Association (NBTA) Canada, reported the organization.
Report by David Wilkening
Related News Stories:
David
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
BA pilot dies during layover
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls