Cambridge Chamber of Commerce

Summer is nearly here and the outlook for the local tourism sector is expected to be a hot one thanks to the continued interest of visitors seeking getaways that won’t break the bank.

 

“Our main market is leisure travel from the GTA and given current inflation, people are considering staying a little closer to home, perhaps to save a little money,” says Explore Waterloo Region CEO Michele Saran. “We feel we’re in a good position for those quick little getaways if you can’t afford a full-on trip somewhere overseas.”

 

In fact, while international travel numbers to Canada continue to slowly rebound according to Destination Canada, the domestic market has long since fully recovered following the pandemic.

 

“Research shows Canada is the top international destination for Americans and where they want to go in 2024,” says Michele, adding Waterloo Region is in a much better position than places that rely on international travel. “I’m hearing a lot of positivity from local operators, and everyone seems to be excited about the summer season; the only thing they’re wishing for is good weather.”

 

Tourism in Waterloo Region contributes approximately $557 million annually to the local economy, and it’s a sector that takes in more than just leisure travel.

 

“When we’re talking about tourism it’s not just about leisure visitation. It’s also about business events and conventions, as well as sporting events,” says Michele, pointing to the 2024 Special Olympics Ontario Spring Games (May 23-26) in Waterloo Region as a prime example and the fact more than 700 athletes and their families would be in the area.

 

Economic impact

 

On the business side, she says the region has secured $49.5 million in economic impact last year for business events in the coming years. 

 

“Tourism is big business,” says Michele, adding Explore Waterloo Region continues to build on that by creating attractions which combine urban and rural experiences. “We’re putting all kinds of packages together to give people a reason to want to come here.”

 

This includes providing visitors the chance to ‘walk with an alpaca’ courtesy of a local farm near Bright, or the opportunity to go ‘glamping’ in one of the luxury containers at Bingemans. As well, visitors can also canoe down the Grand River this summer topped off by experiencing an authentic Indigenous meal along the journey.

 

Michele says food remains a popular local attraction, noting the creation of a ‘FarmGate’ app that will guide visitors to local farms so they can learn more about where their food comes from, as well as the Farm To Fork television show, hosted by chef Nick Benninger on Bell Fibe TV-1, to promote local cuisine. 

 

Also, wellness-focused excursions have become a growing trend as more Canadians prioritize ways to rejuvenate their body and mind.

 

“We have some great spas in our area, and they all offer great experiences which can all be part of your wellness getaway,” says Michele, adding Waterloo Region’s hundreds of kilometres of hiking and cycling trails also play a role in that trend.

 

Last year, Explore Waterloo Region partnered with Ontario By Bike to create a cycling app that not only highlights various trails and their difficulty levels, but features ‘bike friendly’ businesses along the way, and businesses wishing to be included can apply for certification. 

 

“It’s all about promoting things that you can’t do in Toronto that captures your imagination,” says Michele, referring to local tourism.

 

 

According to the Destination Canada report, Tourism Outlook: Unlocking Opportunities for the Sector, total tourism revenue was poised to exceed 2019 levels. Key report highlights include:

 

  • Demand for travel is projected to grow by 30% by 2030 and will outpace the capacity to host in peak seasons, limiting Canada’s growth potential.
  • The report identifies a $160 billion revenue potential for the tourism industry by 2030, but only if a transformational path is taken that addresses constraints and shifts demand to change how growth occurs.
  • Destination Canada proposes a transformative path to secure an additional $20 billion in annual revenue by 2030, driving real prosperity for tourism businesses across the country and contributing a 14% increase in GDP generated by tourism, 84,000 more jobs and $5.3 billion more in tax revenue for all levels of Government.
  • Industry transformation will close the $20 billion opportunity gap, but it will require sector-wide collaboration on seven key levers: revenue and yield growth, brand leadership, investment, access, workforce and digital readiness, environmental sustainability, and support from Canadians.
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