News & Articles - economy

  • Meetings and Events Drive TO Visitors in 2023

      Visitor spending reached a record $7 billion in 2023 but the number of visitors in Toronto remains below pre-pandemic levels, according to the year-end Toronto’s Visitor Economy: 2023 Market Performance Highlights report published today by Destination Toronto. While visitor spending surpassed pre-pandemic levels for the first time, the city is still at 93 per cent of pre-pandemic arrivals, welcoming 8.95 million visitors in 2023. Before the pandemic, Toronto welcomed 9.56 million visitors in 2019 with $6.7 billion in visitor spending and…

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  • Hard Rock Ottawa

    Hard Rock Hotel Ottawa Breaks Ground

      Construction has officially started on Ottawa’s newest tourism and entertainment destination, the future Hard Rock Hotel & Casino Ottawa. The project includes a 150-room Hard Rock Hotel, including 22 suites; an expanded Hard Rock Casino with 1,500 slot machines, 40 live action table games, Sportsbook, high-limit gaming and a Baccarat room, an 1,800-seat Hard Rock Livetheatre with standing room for 2,200, more than 10 restaurants, bars and lounges, including the award-winning and iconic Hard Rock Café and Council Oak Steakhouse and Rock Shop and Unity Store. “We are…

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  • Toronto Events Below Pre-COVID Pace

      Destination Toronto revealed business events in 2023 are on pace to bring an estimated $624 million in economic impact to the Toronto economy. While these visitors will have a welcome impact in 2023, this represents 55 per cent of what meetings and events contributed in 2019. Toronto is on the road to rebuilding the impact of the meetings industry, but remains well short of pre-pandemic levels. Currently, 2024 is on pace to deliver only 21 per cent of the…

    Breaking News, Uncategorized

  • Vancouver Hotel Shortage Looms

      Without new investment, the lack of hotel supply in Metro Vancouver will translate into significant losses to the provincial economy, according to a new study released by Destination Vancouver. To close the gap between current supply and projected demand, 20,000 new hotel rooms are needed in Metro Vancouver by 2050; with 10,000 of those new hotel rooms necessary just in Vancouver. Between 2022 and 2050, the cumulative economic impacts are projected to be: $30.6 billion in foregone output. $16.6 billion in…

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  • Study to Evaluate Events Industry Losses Spurred by Pandemic

    The Events Industry Council (EIC) has launched a new study that will examine the events industry’s impact on the global economy and, for the first time, quantify the cumulative losses experienced in 2020 due to the COVID-19 pandemic. “This study will provide critical data,” says EIC CEO, Amy Calvert. “Understanding those important points will help with advocacy efforts as we navigate towards the recovery.” The high-profile project will cover the full economic impact of events, using 2019 as a watermark,…

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  • Survey: 2021 will be a Hybrid Year

    Nearly three-quarters of meeting planners are moving their face-to-face events to virtual or hybrid next year, according to the most recent Meetings and Events Pulse Survey conducted by Global DMC Partners. This despite the majority of surveyed planners predicting the return of in-person events in the first half of 2021, though 57 per cent believe events will be downsized in the future, with the largest events topping out at 250 attendees. A majority also believe average event attendee numbers will…

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  • Study of 17 major Canadian events backs up request for federal program dedicated events industry

    Press Release A new economic impact study of 17 major Canadian events published today shows that Festivals and Major Events Canada’s request for the federal government to establish a program dedicated to the growth of the events industry is more relevant and timely than ever. The KPMG study estimates that a group of 17 events generated a combined $290.8 million in economic benefits (added value at market prices). This calculation is based on $396.4 million in eligible expenditures (operations and tourist). The study estimates…

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  • Air Canada unveils expanded Economy fare structure to satisfy every customer’s travel needs

    New comfort fare offers key amenities plus options to enhance travel Air Canada has unveiled an expanded range of North America Economy fares to give its customers greater flexibility to select the airport and onboard amenities they want when travelling. In redesigning its existing Economy fares the airline is introducing a new comfort fare that provides customers a wide range of features, including complimentary access to Preferred Seats, and the option to purchase other amenities such as Maple Leaf Lounge access.…

    Breaking News, Corporate Travel & Incentives, Meeting Community, Travel Tips & News

  • Navigating the ever-changing world of corporate travel

    Navigating the ever-changing world of corporate travel can overwhelm even the most seasoned travel professional. From artificial intelligence to the sharing economy to cryptocurrency, myriad factors play a role in shaping the industry, and, in turn, how your organization operates and manages its travellers. Staying updated on the latest trends, changes, and progressions in the industry is essential for any organization looking to grow. At GBTA Conference 2018 – Toronto, we’ll be discussing the biggest trends expected to impact managed…

    Breaking News, Corporate Travel & Incentives, Meeting Community, Travel Tips & News

  • Life sciences generate four conferences for Québec City

    The life sciences industry is booming in the Québec City area and features prominently in the economy. The city is an innovation hub brimming with expertise and development potential thanks to its key players, research centres, businesses, and investment. This vitality is also reflected in the growing number of Canadian, American, and international organizations in this field choosing Québec City and the Québec City Convention Centre for their events. Plus, more than 30 per cent of events held at the…

    Breaking News, Meeting Community

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