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 â€” the difference between spending by Canadians abroad and spending by foreigners in Canada â€” 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.