Canada grew at an annualized rate of 6.1% in the first quarter. The US grew at half that rate and we're all aware of Europe's struggles with national debts and a weaker Euro. Canadian destinations are keenly aware that the best prospects for a good tourism season this summer are right here at home. Canada has been creating thousands of jobs for several months now. And while the Bank of Canada raised interest rates last week, the rate is still low enough that it won't stop the economy in its tracks. Canadians are cautiously optimistic about their financial situation and might just decide to travel more this summer than previously expected.
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The challenge for Canadian destinations is to persuade more Canadians to travel at home given the myriad of places that are also aware that Canadian consumers are in much better financial situation than their counterparts in most other countries. Travel deals to the US and Europe this summer will be the best we've seen in recent times. Price and convenience will be key this season.
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