06:38:08 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 358,427,794
Close 2023-05-15 C$ 21.14
Market Cap C$ 7,577,163,565
Recent Sedar Documents

Globe/CP say Air Canada, others told tourism rebounding

2023-05-16 08:59 ET - In the News

Also In the News (C-ONEX) Onex Corp
Also In the News (C-QSR) Restaurant Brands International Inc
Also In the News (C-SRV) SIR Royalty Income Fund

The Globe and Mail reports in its Tuesday edition that Canada's travel and tourism sector is poised for a big postpandemic rebound, according to a report from the World Travel and Tourism Council. A Canadian Press dispatch to The Globe says that the industry is set to contribute $162.6-billion to the Canadian economy in 2023, up 17 per cent from last year, the council said in its latest research. The forecast also comes within sight of the previous peak of $173.9-billion in 2019. If achieved, the activity would furnish about 90,000 more jobs to reach 1.64 million this year, recovering nearly all the travel and tourism positions scrapped during the COVID-19 pandemic. Last year, spending from overseas travellers bound for Canada ballooned by 64 per cent to $23-billion. Council president Julia Simpson said the trend is likely to continue, bringing the expected total this year closer to 2019's $43-billion. Canada's transportation and hospitality businesses were among the most battered by the pandemic, which shut borders and restricted travel and restaurant dining. The recovery from COVID-19 is far from complete. Bankruptcy filings by restaurants, caterers and other food services have risen by 116 per cent since 2022.

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