News & Articles - economy

  • 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.…

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  • 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…

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  • 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…

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  • Strength in global economy means higher travel pricing in 2018

    Air, hotel and ground transportation all see upticks on back of rising inflation, higher oil prices and emerging markets According to the 2018 Global Travel Forecast, travel prices are expected to rise sharply in the coming year, reaching nearly 4 per cent increases in some sectors. The fourth annual forecast, by the GBTA Foundation in partnership with Carlson Wagonlit Travel, and with the support of the Carlson Family Foundation, shows global airfares are expected to rise 3.5 per cent in…

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  • Cruise industry contributed $3.2 billion to the Canadian economy in 2016

    Economic impact expected to continue growing as passenger visits rise again in 2017 Cruise ships, together with their passengers and crew, make a significant annual contribution to the Canadian economy – and cruise industry spending is increasing at a healthy rate in all three of Canada’s major coastal cruise regions – BC, Quebec and Atlantic Canada. Those are among the findings of a new study detailing the economic impact of the cruise industry in Canada – including everything from spending by cruise lines home-porting and making port…

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  • China solidifies newfound position as world’s largest business travel market

    China accounts for nearly 25 per cent of global business travel spending Despite a moderating economy, China remains one of the fastest growing business travel markets in the world, according to the GBTA Foundation’s latest business travel forecast, GBTA BTI™ Outlook – China 2016 H2. Total business travel spending is expected to grow 9.2 per cent this year reaching US$317.9 billion. In 2017, another 8.4 per cent increase is expected bringing total Chinese business travel spend to US$344.6 billion. By…

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