Tourism Investment Module, 2022
Released: 2024-01-25
In 2022, tourism industries invested $25.4 billion in non-residential capital assets, which accounted for 6.2% of all non-residential capital investment in Canada.
This release isolates the investment in non-residential capital assets undertaken by tourism industries at a detailed industry level. The specific industries included are outlined in the Note to readers.
Non-residential assets include four broad asset categories: non-residential buildings, non-residential engineering structures, machinery and equipment, and intellectual property products.
The share of total non-residential investment by tourism industries decreased from 6.6% in 2021 to 6.2% in 2022. The loss in share was primarily driven by lower investment in the passenger car rental and urban transit system industries.
Chart 1
Tourism industries' share of non-residential investment, 2013 to 2022
In 2022, four industries accounted for 60.5% of total tourism investment: urban transit systems ($9.1 billion), scheduled air transportation ($2.5 billion), passenger car rental ($1.9 billion) and limited-service eating places ($1.8 billion).
In real terms, capital investment by tourism industries decreased 2.7% in 2022, after increasing 6.4% in 2021. The decline in 2022 was largely attributable to the urban transit systems (-15.1%) and passenger car rental (-32.6%) industries.
Chart 2
Investment by tourism industries, 2013 to 2022
The private sector leads investment by tourism industries, posting its first gain since 2016
Of the overall investment in capital assets by tourism industries in 2022, 46.2% originated in the private sector, up from 41.1% in 2021. This was the first increase in the private sector's share of tourism investment since 2016.
Capital investment by private sector tourism industries was highest in Ontario, at $4.9 billion in 2022, followed by British Columbia ($2.1 billion), Alberta ($1.7 billion) and Quebec ($1.7 billion). Ontario contributed 41.8% of the total private sector capital investment by tourism industries in Canada.
Around three-fifths (60.8%) of capital investment by public sector tourism industries in 2022 was at the provincial, territorial and Indigenous general government level ($8.3 billion), followed by local governments ($4.4 billion) and the federal government ($0.9 billion). Public sector industries also include government business enterprises.
Investment by public sector tourism industries was highest in Ontario ($6.8 billion), representing 58.3% of all non-residential capital investment by tourism industries in the province in 2022.
Chart 3
Investment by tourism industries, share by sector, 2022
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Note to readers
All estimates in this release are expressed in current dollars unless otherwise stated. Initial estimates from 1981 up to 2021 have been revised as a result of revisions to source data and methodological updates.
Tourism industries are a subset of all industries in Canada and include those related to transportation, accommodation, food and beverage services, recreation and entertainment, and travel services that are likely to cater directly to tourists. Although these industries also have non-tourism activities, they are considered essential for tourism activities. As such, these estimates contain investments that benefit tourists and non-tourists. For some tourism industries (e.g., urban transit systems), these investments mostly benefit non-tourists.
Tourism industries are composed of the following six-digit North American Industry Classification System (NAICS) 2022 codes:
481110, 481214, 481215, 482114, 483115, 483116, 483213, 483214, 485110, 485210, 485310, 485320, 485410,
485510, 485990, 487110, 487210, 487990, 512130, 532111, 532120, 561510, 561520, 561590, 711111, 711112,
711120, 711130, 711190, 711213, 711214, 711215, 711217, 711311, 711319, 711321, 711322, 711329, 711511,
711512, 711513, 712111, 712115, 712119, 712120, 712130, 712190, 713110, 713120, 713210, 713291, 713299,
713910, 713920, 713930, 713950, 713991, 713992, 713999, 721111, 721112, 721113, 721114, 721120, 721191,
721192, 721198, 721211, 721212, 721213, 722410, 722511 and 722512.
A two-step procedure is used to provide the required levels of detail.
The first step is to derive a weighting based on the Capital and Repair Expenditures Survey (CAPEX) data. This weighting is calculated according to the province, the sector of activity (private, federal, provincial, territorial, local and Indigenous), and the two-digit and six-digit levels of NAICS. As detailed CAPEX data are only available from 2015 to 2021, weights were extrapolated to earlier years (2014 to 1981) using a backward moving average of a maximum length of five. The 2022 data were estimated using the average of the weights from 2015 to 2021.
The second step consists of applying the weights obtained in the first step to the published non-residential capital investment data, thereby ensuring coherence with the stock and consumption of fixed capital program.
This produces detailed investment data by province, asset and sector of activity and at the six-digit level of NAICS, consistent with the stock and consumption of fixed capital program.
Data are available upon request.
Products
The Economic accounts statistics portal, accessible from the Subjects module of the Statistics Canada website, features an up-to-date portrait of national and provincial economies and their structure.
The Latest Developments in the Canadian Economic Accounts (13-605-X) is available.
The User Guide: Canadian System of Macroeconomic Accounts (13-606-G) is available.
The Methodological Guide: Canadian System of Macroeconomic Accounts (13-607-X) is available.
Contact information
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