Travel deficit hit record high in 2006

According to this article at the Globe and Mail, the International travel budget deficit for Canada hit a record high in 2006. This is the difference between money spent by Canadians outside of Canada vs. money spent by others visiting Canada.

The deficit — the difference between spending by Canadians abroad and spending by foreigners in Canada — jumped $1.4-billion to an estimated $7.2-billion in 2006. The travel deficit has increased every year since 2002, more than quadrupling in the process.

The burgeoning deficit was the result of record spending abroad: Canadian residents spent an estimated $23.6-billion outside the country in 2006, up 6.2 per cent from the previous high in 2005. Foreigners in Canada spent about $16.4-billion in 2006, a slight decline from the previous year.

So although foreign tourism dollars have declined slightly, most of the difference is accounted for by increased spending by Canadians traveling.

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quack
quack
13 years ago

TickTock said… [a bunch of stuff debunking the myth about Vancouver being in the same league as the great cities of the world].Thanks for that. I get tired of hearing the BS about Vancouver.

TickTock
TickTock
13 years ago

Interesting article speaking of a travel deficit to Canada…http://www.upstatehouse.com/rss-display.php?id=inmannews62337I applaude Mexico for dumping hundreds of millions of dollars into their economy to draw all that foreign investment just like we're doing with the Olympics. Oh wait…silly me…I keep getting those pesos and dollars mixed up.

TickTock
TickTock
13 years ago

there are tonz of place like Vancouver in the world I'll agree with you on that one point satv.Having said that, Vancouver isn't like San Fran, definitely not a transportation dream like Zurich, the library does not even compare with the Coliseum in Rome, our beaches are oil pits next to Miami, our lofts are matchboxes compared to New York, and our night life is unfun next to the vibrant lights of London, and well…next to Paris…I suggest you take a trip there.I've been to all of these cities in the last two years…and as much as we all love Vancouver…it's undisputable that Vancouver is behind in so many ways which is more and more evident in articles like this one.One thing these cities didn't do is add water and poof…instant city. Cities cannot be planned to perfection….funny when you… Read more »

Paul
Paul
13 years ago

LOL! licketyclit

Jim
Jim
13 years ago

satv = vhb with not = ip address.

machoslob
machoslob
13 years ago

Wow!Looks like satv finally found someone that dances to the same tune….whatever the hell that might be.

licketyclit
licketyclit
13 years ago

Dear Satv,wen all is don vanbc to go allout or never.otoh who know watwill happenthen best place everor never.ofcurse to prepared for the worse is no harm neither,16.4 billion no bg deel.you thinck halifax anybeter?even time travler dont now,never minde wat difrence could bring.onmy way home hom from us i saw lots stuf youwoud not dreamof,so theyr yo goif everbody want vacuver wat youthink woud com next.evry streat is dfrent fron the next or havnt you hearde?no pointin spiling milk over lost couse cuZ somone hadto tel you

satv
satv
13 years ago

SO FAR SO GOODBaby you're all that I wantWhen you're lyin' here in my armsI'm findin' it hard to believeWe're in heavenAnd love is all that I needAnd I found it here in your heartIt isn't too hard to seeWe're in heavenWOW WOW WOW la la la la la la

quack
quack
13 years ago

looting,rapes,and murder's are involvedsatv, I am a time traveller. You have described Vancouver as it will be shortly before 2010.

satv
satv
13 years ago

JUST IMAGINEafa Vancouver concern its realy a good news see that 16.4 billions goes to Vancouver or Toronto.yes there are tonz of place like Vancouver in the world.they are not realy Icoustic,no eye candy,street level are single lanes going to mountains and very unsecure on your hand driving.mostly polluted and less trafic rules,also looting,rapes,and murder's are involved but hardly ever heard anything in Vancouver world's best

Paul
Paul
13 years ago

I hear Halifax is nice this time of year…

the pope
the pope
13 years ago

digi: Simple solution, only home owners are allowed to leave the country from now on. This will act to reduce temptation to leave our little 'paradise'.

digi
digi
13 years ago

What happens if our potential FTBs find out there are mountains and water in other places of the world where you can buy a house for less than $500k?