logo

Hospitality Industry In Canada Market Size (2024 - 2029)

The market size of the hospitality industry in Canada is projected to experience significant growth over the forecast period, driven by increasing demand for adventure and outdoor activities in key destinations. The Canadian government's substantial investment in the tourism sector has enhanced infrastructure and facilities, making the country a prime location for adventure tourism. Additionally, the rise of social media has played a crucial role in inspiring more travelers to visit Canada. Domestic travel is also witnessing a boom as Canadians seek to compensate for missed gatherings and vacations, contributing to the industry's expansion.

Home Market Analysis Hospitality and Tourism Research Hospitality Research General Hospitality Research Hospitality Industry in Canada Market Size

Market Size of Hospitality Industry In Canada

Canada Hospitality Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 39.20 Billion
Market Size (2029) USD 50.68 Billion
CAGR (2024 - 2029) 5.27 %
Market Concentration Low

Major Players

Canada Hospitality Market Major Players

*Disclaimer: Major Players sorted in no particular order

Canada Hospitality Market Analysis

The Hospitality Industry In Canada Market size is estimated at USD 39.20 billion in 2024, and is expected to reach USD 50.68 billion by 2029, growing at a CAGR of 5.27% during the forecast period (2024-2029).

The demand for adventure and outdoor activities is on the rise, particularly in Canada’s top outdoor destinations, such as Banff, Whistler, Toronto, and Vancouver. The city centers are also seeing an increase in international visitors. Adventure tourism in Canada is growing due to several factors. For example, the Canadian government has invested heavily in the tourism sector, making Canada a top destination for adventure tourism. This investment has resulted in better infrastructure and facilities for tourists to enjoy their trips. More people are using social media and sharing their travel experiences. As more people share their experiences and showcase the beauty of Canada, more people are inspired to travel to the country and experience it themselves.

As Canadians become more confident in their travel choices, they also look to make up for missed gatherings and vacations. Domestic travel is booming, and it is expected to stay strong into the coming future.

Canada Hospitality Industry Segmentation

The hospitality industry comprises services such as lodging, food and drinks service, event planning, theme parks, travel, and tourism. It also covers hotels, tourism agencies, restaurants, and bars. The hospitality industry in Canada is segmented by type and segment. By type, the market is segmented into chain hotels and independent hotels. By segment, the market is segmented into service apartments, budget and economy hotels, mid and upper-mid-scale hotels, and luxury hotels. The report offers a forecast and market size for the Canadian hospitality industry in value (USD billion) for all the above segments.

By Type
Chain Hotels
Independent Hotels
By Segment
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid-scale Hotels
Luxury Hotels
Need A Different Region Or Segment?
Customize Now

Hospitality Industry In Canada Size Summary

The hospitality industry in Canada is poised for significant growth, driven by increasing demand for adventure and outdoor activities in popular destinations like Banff, Whistler, Toronto, and Vancouver. The sector is benefiting from substantial government investments, which have enhanced infrastructure and facilities, making Canada a prime destination for adventure tourism. The rise of social media has further fueled this trend, as travelers share their experiences, inspiring others to visit. Domestic travel is also experiencing a boom, as Canadians seek to make up for missed vacations and gatherings. This robust demand is expected to sustain the industry's growth trajectory over the forecast period.

Canada's tourism and hospitality sector is a major contributor to the national economy, employing hundreds of thousands and supported by government initiatives. The industry has seen a strong recovery, attracting investor interest due to anticipated income growth. The increase in land and construction costs has made existing assets more appealing compared to new developments, although new hotel projects are still being announced, particularly in Ontario, British Columbia, Quebec, and Alberta. The market is characterized by a mix of independent and branded hotels, with international brands like Wyndham Worldwide, Choice Hotels Canada, Best Western International, and Coast Hotels holding significant market shares. Recent expansions, such as those by Coast Hotels and Wyndham Hotels & Resorts, highlight the ongoing growth and development within the sector.

Explore More

Hospitality Industry In Canada Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Awareness among Hotels & Resorts to Implement Eco-Friendly Measures

      2. 1.2.2 Rising Mobile Reservations & Contactless Check-In/Out

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Skilled Labour

      2. 1.3.2 Reputation Management is One of the Most Important Tasks in the Hospitality industry

    4. 1.4 Market Opportunities

      1. 1.4.1 Health and Wellness Tourism will Become Increasing Popular in the Hospitality Industry

      2. 1.4.2 Increase in the Number of Airport Construction Projects

    5. 1.5 Value Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Threat of New Entrants

      2. 1.7.2 Bargaining Power of Buyers/Consumers

      3. 1.7.3 Bargaining Power of Suppliers

      4. 1.7.4 Threat of Substitute Products

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Chain Hotels

      2. 2.1.2 Independent Hotels

    2. 2.2 By Segment

      1. 2.2.1 Service Apartments

      2. 2.2.2 Budget and Economy Hotels

      3. 2.2.3 Mid and Upper Mid-scale Hotels

      4. 2.2.4 Luxury Hotels

Hospitality Industry In Canada Market Size FAQs

The Hospitality Industry In Canada Market size is expected to reach USD 39.20 billion in 2024 and grow at a CAGR of 5.27% to reach USD 50.68 billion by 2029.

In 2024, the Hospitality Industry In Canada Market size is expected to reach USD 39.20 billion.

Hospitality in Canada Market Report Snapshots

Hospitality Industry in Canada Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)