How The Federal Budget May Assist The Canadian Tourism Industry

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How The Federal Budget May Assist The Canadian Tourism Industry

What’s green, creates enormous job opportunities and spins billions into local economies at relatively low cost? Here’s a hint – it’s not Monster.com. Tourism is one of Canada’s top industries in job creation, business capitalization, and overall economic benefit to society.

The nice thing about tourism is that it’s green and has a soft impact on the environment when compared to the resource sectors. It not only builds jobs in the service sector directly related to restaurants, resorts, and hotels but the hospitality tourism sector also pumps money back into the economy through mega expenditures on infrastructure, commodity supply, and contract services etc.

Tourism is a win/win industry. One of the most important factors when you attract tourists into the country from other destinations around the world is that you accomplish several goals:
A/ Bring in new money into the economy rather than just recycling dollars inside the country.
B/ Reduce the trade deficit.
C/ Introduce visitors who are potential investors to other Canadian markets and services that they may not have considered before visiting Canada.
D/ Spread international goodwill and the positive word of mouth that can only help re-enforce a positive image of the people, customs, and economy … and everyone knows a fresh look at international hospitality diplomacy is in order following the Bush foreign policy doctrine. Tourism and hospitality are synonymous in the truest sense.
E/ Let’s face it, Canada has a lot to offer and is one of the most desirable countries in the world to live, work, and play ….Canada needs skilled labour to compete, and tourism is the first step to attracting skilled resources to the country.

Canadians are anxiously digesting the outcome of the Jan 27th/09 Conservative budget. While we know that well in advance, sources have leaked out the overall pot of available funding with certain expectations of infrastructure money and tax relief, the specifics are less than clear and may take some months to understand and work their way into the Canadian economy. One thing is for sure, almost everyone is in agreement that some measure of economic stimulus is in order. One would also be hard pressed to find an economist that wouldn’t agree that increasing tourism expenditures is one of the most effective and timely ways to disperse money throughout the economy with little or no lag time on the resulting economic stimulus.

Some areas like Ontario are facing a manufacturing meltdown due to offshore competition, high energy costs, labour costs, inability to secure operating capital, and in some cases, simply bad management and poor planning. The nice thing about the tourism economy is it is well diversified and has beneficial effects on all Canadians. Most importantly, it has low environmental consequences and it benefits the socio-economic groups that have the highest potential of spending earned money into a plethora of other economic sectors.

Ontario by example is a popular tourist destination from many national perspectives. The Canadian dollar is low and an advantage for most out of country visitors, and Ontario has a wide mix of outdoor adventure, cottage country resorts, as well as big city conferences, shopping, and hotel facilities. Ontario is also blessed with a number of world class destination attractions to market. Of importance to many offshore markets, Ontario has easy travel access – one can land in Toronto and be in a pristine lakeside wilderness setting in less than two hours. Good examples are world renowned Algonquin Provincial Park and the well branded Muskoka travel region.

Many are hoping that the Federal budget investment in stimulus will include infrastructure dollars and direct marketing dollars that filter into the tourism sector where there is already some momentum, but with the existing capacity to grow. In Ontario, the tourism sector is a huge economic benefit that can fill the gap and create massive employment opportunities at the same time. Tourism is always a great creator of wealth for all classes of society. The economic downturn is a great opportunity for resorts and hospitality in general to take advantage of low cost money and stimulus incentives to recapitalize tourism infrastructure while at the same time, providing an economic injection of new jobs as a direct result of government increases in tourism marketing.

The formula bears consideration. By attracting a bigger slice of the tourism pie from increased marketing of tourism product the resulting hospitality related new
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construction, renovations, as well as the purchasing of products and services will achieve a fast and far reaching boost to the economy.

Many economists would support the premise that tourism provides perhaps the largest potential for stimulus and most certainly the quickest and widest broadcast method to pump money into the economy and get things flowing again. Hospitality operators, associations, and developers are pouring over the fine print of the budget hoping in earnest that it will help their industry and allow them their contribution to help bring this economy out of its economic funk.

By: Rick Breckbill

Article Directory: http://www.articledashboard.com

The historic Severn Lodge has been a favourite Ontario resort for family vacations, romantic couple’s getaways, corporate retreats, and wedding receptions. For information on inclusive resort vacation packages & other affordable getaway packages, call toll free 1-800-461-5817 or visit Severn Lodge.

Inactive Realtors in Ontario have the option to join an Ontario real estate Brokerage that help you keep your license active during your inactive times.  Save on real estate board fees and all your other needless office expenses too.  Park your license with a reputable and successful license holding Brokerage and still earn high commissions on all your sales, if any and your referrals.  Commissions are paid to you ASAP!

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