After an incredibly positive outdoor recreation season in 2020, the forecast looks great for 2021.
In this time of uncertainty and the unpredictable nature of the pandemic, it is crucial for Alberta tourism businesses to have up to date information on the current and forecasted economic impact of COVID-19. Travel Alberta is working with Tourism Economics to develop forecasts a few times throughout the year. While forecasting can be challenging, we use information available to build a set of assumptions that will be the basis of the report to help inform business plans and strategies moving forward.
The extent of the impact on tourism has been more severe than originally predicted due to the duration of the pandemic.
Key highlights of the Travel Impact Scenarios and Spending Segmentation for Alberta include key assumptions and Alberta conditions factored in that make up the most likely scenario. The assumptions were developed by Destination Canada and are also being used in their forecasting. The Lower Bound seems to be the most realistic scenario for our industry. It summarizes that borders remain closed* until January 2021, and Canadians convert a fraction of their international leisure travel spending towards domestic destinations.