Issued on April 18 during Global Business Travel Association (GBTA) Conference 2018 - Toronto, the report was produced by GBTA, in partnership with global corporate travel management provider BCD Travel and national carrier Air Canada.
Titled, The Canadian Business Travel Industry: Business Travel’s Impact on Jobs and the Canadian Economy showed business travel was responsible for about 2.6 percent or CAD40.1 billion (USD31.34 billion) of Canadian GDP in 2016.
The economic impact study found that Canadian business travellers took a total of 35.1 million trips, up 5.7 percent from 2015, and spent CAD29.4 billion (USD22.98 billion) on travel goods and services in Canada, up 7.3 percent. Total expenditures to support Canadian business travel reached CAD35.8 billion (USD27.98 billion) when factoring in the CAD6.4 billion (USD5 billion) spent on meetings operations.
“Business travel is the fuel that powers the engine of many corporations around the Canadian marketplace and is a critical driver of the economy,” commented Michael McCormick, executive director, GBTA. “This study clearly demonstrates the importance both face-to-face interactions and enacting pro-travel polices can have on an economy’s bottom line.”