chicot60
02-26-2011, 12:26 AM
By QMI Agency
Canada's travel deficit with the world hit $3.8 billion in the fourth quarter, as the high-flying loonie encouraged Canadians to take trips south of the border.
The international travel deficit grew by $157 million from the third quarter, as spending by Canadian travellers outside the country jumped 2.4%, Statistics Canada said Friday.
Much of that money was spent in the U.S.
Canadian travellers took 9.7 million car trips and left $4.7 billion with American merchants in the fourth quarter, up 3% from the previous quarter, pushing the country's travel deficit with its neighbour to the south up to $2.9 billion.
Same-day road trips to the U.S. were up 8.5%, representing the highest quarterly increase on record. This was largely due to the lofty loonie. The Canadian dollar rose 2.6% in the period to hover around parity.
Canadians also spent a record $3.2 billion overseas, StatsCan said.
Tourists to Canada spent slightly more within the country's borders in the quarter.
On an annual basis, the travel deficit grew by $1.9 billion to hit $14.1 billion in 2010. In total, Canadians spent $30.4 billion on travel abroad, while visitors to Canada spent $16.3 billion
http://travel.canoe.ca/Travel/News/2011/02/25/17409541.html
Canada's travel deficit with the world hit $3.8 billion in the fourth quarter, as the high-flying loonie encouraged Canadians to take trips south of the border.
The international travel deficit grew by $157 million from the third quarter, as spending by Canadian travellers outside the country jumped 2.4%, Statistics Canada said Friday.
Much of that money was spent in the U.S.
Canadian travellers took 9.7 million car trips and left $4.7 billion with American merchants in the fourth quarter, up 3% from the previous quarter, pushing the country's travel deficit with its neighbour to the south up to $2.9 billion.
Same-day road trips to the U.S. were up 8.5%, representing the highest quarterly increase on record. This was largely due to the lofty loonie. The Canadian dollar rose 2.6% in the period to hover around parity.
Canadians also spent a record $3.2 billion overseas, StatsCan said.
Tourists to Canada spent slightly more within the country's borders in the quarter.
On an annual basis, the travel deficit grew by $1.9 billion to hit $14.1 billion in 2010. In total, Canadians spent $30.4 billion on travel abroad, while visitors to Canada spent $16.3 billion
http://travel.canoe.ca/Travel/News/2011/02/25/17409541.html