Tourism to Benefit from Economic Recovery Expected for Alberta: November Market Monitor
Both ATB Financial and Toronto-Dominion Bank predict a modest recovery for Alberta’s economy in 2017. In addition, the Conference Board of Canada’s autumn 2016 Travel Market Outlook for Metropolitan Areas, forecasts that overall overnight visits in Calgary and Edmonton will increase by 2.6% and 2%, respectively, in 2017, compared to its forecasted numbers for 2016.
Summary of findings:
Decreases Recorded in Calgary and Edmonton occupancy rates
- Decreased 6.7 and 4.1 points respectively, between January and September 2016 over the same period last year.
- Average daily room rates year-to-date also decreased 8.6% in Calgary and 5.1% in Edmonton over 2015.
2016 Shaping up to be a good year for tourism in the Alberta Resorts region
- Between January and September 2016, the occupancy rate and average daily room rate in the Alberta Resorts region (which include the resort communities of Banff, Lake Louise, Kananaskis, Canmore, and Jasper) were 69% and $261 respectively. This represents an increase of 2.8 points and 10% respectively, over the same period in 2015.
- Mountain parks of Banff, Jasper, and Waterton Lakes welcomed 5.8 million visitors between January and September 2016; an increase of 6.4% over 2015.
Good news for Banff, AB
Banff was named to National Geographic Traveler’s Best of the World list for 2017, a highlight of 21 of must-see places in the world to visit. The City of Edmonton received similar accolades from Canadian Geographic for one of the top Canadian cities to visit in winter. These publications have a wide readership, including potential visitors around the world.
View the complete 2016 November Market Monitor.
Annual editions and past editions of the Market Monitor are also available.