Canadian travellers have been giving the US the chilly shoulder since President
Donald Trump
ramped up
tariffs and sovereignty assaults
— however they don’t seem to be the one ones.
The newest journey information reveals that worldwide arrivals to the U.S. dropped throughout the board as commerce tensions and stricter border insurance policies spurred worldwide travellers to cancel or postpone journeys, mentioned Ksenia Bushmeneva, an economist with Toronto Dominion Financial institution,
in a report out yesterday
.
“Destructive sentiment amongst potential travellers has risen, prompting boycotts and broader hesitancy to go to the U.S.,” she mentioned.
Abroad arrivals to the US dropped about 12 per cent in March from final yr, with the states hottest with abroad guests — New York, Florida, California, Nevada and Texas — struggling essentially the most, she mentioned.
Air arrivals from the Caribbean and Central America led the decline by proportion, adopted by Mexico, Western Europe and Canada.
Travellers from Western Europe, which account for about 18 per cent of worldwide guests to the U.S. and are the principle supply for New York State, had been down by 190,000 guests.
America’s nearest neighbours Canada and Mexico characterize 50 per cent of worldwide site visitors and each noticed steep declines in March, mentioned Bushmeneva.
Airport arrivals from Canada, the biggest supply of worldwide travellers to the U.S., had been down 13.5 per cent (about 112,000 guests) and return journeys by automobile declined much more, falling 32 per cent or 700,000. The drop-off will hit Florida, New York, Washington, California and Michigan the toughest.
Neither is it wanting just like the summer season journey season will flip this development.
“Future flight bookings from Canada have collapsed, declining by 70 per cent for each month by means of September,” mentioned Bushmeneva. Lodge bookings have fallen 7.8 per cent from a yr in the past, and are down 13 per cent in New York Metropolis.
Journey and tourism
is a multi-trillion-dollar business in the US, the most important on the planet, and the slowdown in overseas guests will weigh not solely on this sector but additionally on the entire economic system. Final yr worldwide guests spent $286 billion within the U.S. — which equals about what People spent shopping for used vehicles, mentioned Bushmeneva.
New information from the World Journey & Tourism Council (WTTC), shared completely with Bloomberg, tasks that the U.S. is on observe to lose US$12.5 billion in journey income this yr. Of the 184 economies analyzed by WTTC, America is the one nation set to lose tourism {dollars}.
“Different international locations are actually rolling out the welcome mat, and it feels just like the U.S. is placing up a ‘we’re closed’ signal at their doorway,” mentioned WTTC chief government Julia Simpson.
Tourism makes up about 3 per cent of U.S. gross home product, and employs 20 million individuals.
“As a labour-intensive sector, it’s a highly effective engine for job creation — final yr alone, leisure and hospitality accounted for 16 per cent of all personal sector new jobs,” mentioned Bushmeneva.
Whereas overseas travellers are essential, home tourism is the actual money-maker, accounting for about 75 per cent of spending within the U.S. Now it too is displaying indicators of pressure. Fewer People plan to journey this yr, together with inside their very own nation, as risky inventory markets, financial uncertainty and the specter of rising inflation undermine confidence, the newest information reveals.
Join right here to get Posthaste delivered straight to your inbox.
Lastly some excellent news on Canada’s commerce. March information might have proven a steep decline in exports to the US, nevertheless it was offset by an increase in shipments to the remainder of the world, as
at present’s chart from Toronto Dominion financial institution reveals
.
One other shiny facet, about 50 per cent of Canadian items heading to the U.S. had been compliant with the Canada-United-States-Mexico Settlement (CUSMA) in March, up from the typical of 38 per cent in 2024. Which means extra items are dodging Donald Trump’s tariffs.
“Nonetheless, so long as the uncertainty concerning the commerce relationship persists, companies are understandably cautious. With the malaise hanging over the economic system it’s unlikely issues will flip a nook quickly,” wrote Andrew Hencic, TD senior economist.
- Prime Minister Mark Carney reveals his new cupboard. Members might be sworn in at a ceremony in Ottawa this morning.
- Right this moment’s Knowledge: United States inflation, NFIB small enterprise optimism
- Earnings: Energy Corp of Canada, CAE Inc., Endeavour Silver Corp.
- Canada’s unicorn downside: New research explores why our greatest startups fail to take flight
- Ask your self as an investor: What would Buffett do?
- Donald Trump seeks bromance and billions as he heads to Gulf
Married couple Gerard, 56, and Penelope, 54, need to depart the grind of company Canada sooner slightly than later — however provided that their investments are capable of generate the $90,000 a yr they consider will enable them to reside the retirement they need. Is retiring in 4 years, and even higher in two to a few years, potential?
Discover out what Household Finance says.
McLister on mortgages
Need to study extra about mortgages? Mortgage strategist Robert McLister’s
Monetary Publish column
can assist navigate the complicated sector, from the newest traits to financing alternatives you gained’t need to miss. Plus verify his
mortgage price web page
for Canada’s lowest nationwide mortgage charges, up to date every day.
Monetary Publish on YouTube
Go to the Monetary Publish’s
YouTube channel
for interviews with Canada’s main consultants in enterprise, economics, housing, the power sector and extra.
Right this moment’s Posthaste was written by Pamela Heaven with further reporting from Monetary Publish employees, The Canadian Press and Bloomberg.
Have a narrative concept, pitch, embargoed report, or a suggestion for this article? E mail us at
posthaste@postmedia.com
.
Bookmark our web site and assist our journalism: Don’t miss the enterprise information it’s essential know — add financialpost.com to your bookmarks and join our newsletters right here
Canadian travellers have been giving the US the chilly shoulder since President
Donald Trump
ramped up
tariffs and sovereignty assaults
— however they don’t seem to be the one ones.
The newest journey information reveals that worldwide arrivals to the U.S. dropped throughout the board as commerce tensions and stricter border insurance policies spurred worldwide travellers to cancel or postpone journeys, mentioned Ksenia Bushmeneva, an economist with Toronto Dominion Financial institution,
in a report out yesterday
.
“Destructive sentiment amongst potential travellers has risen, prompting boycotts and broader hesitancy to go to the U.S.,” she mentioned.
Abroad arrivals to the US dropped about 12 per cent in March from final yr, with the states hottest with abroad guests — New York, Florida, California, Nevada and Texas — struggling essentially the most, she mentioned.
Air arrivals from the Caribbean and Central America led the decline by proportion, adopted by Mexico, Western Europe and Canada.
Travellers from Western Europe, which account for about 18 per cent of worldwide guests to the U.S. and are the principle supply for New York State, had been down by 190,000 guests.
America’s nearest neighbours Canada and Mexico characterize 50 per cent of worldwide site visitors and each noticed steep declines in March, mentioned Bushmeneva.
Airport arrivals from Canada, the biggest supply of worldwide travellers to the U.S., had been down 13.5 per cent (about 112,000 guests) and return journeys by automobile declined much more, falling 32 per cent or 700,000. The drop-off will hit Florida, New York, Washington, California and Michigan the toughest.
Neither is it wanting just like the summer season journey season will flip this development.
“Future flight bookings from Canada have collapsed, declining by 70 per cent for each month by means of September,” mentioned Bushmeneva. Lodge bookings have fallen 7.8 per cent from a yr in the past, and are down 13 per cent in New York Metropolis.
Journey and tourism
is a multi-trillion-dollar business in the US, the most important on the planet, and the slowdown in overseas guests will weigh not solely on this sector but additionally on the entire economic system. Final yr worldwide guests spent $286 billion within the U.S. — which equals about what People spent shopping for used vehicles, mentioned Bushmeneva.
New information from the World Journey & Tourism Council (WTTC), shared completely with Bloomberg, tasks that the U.S. is on observe to lose US$12.5 billion in journey income this yr. Of the 184 economies analyzed by WTTC, America is the one nation set to lose tourism {dollars}.
“Different international locations are actually rolling out the welcome mat, and it feels just like the U.S. is placing up a ‘we’re closed’ signal at their doorway,” mentioned WTTC chief government Julia Simpson.
Tourism makes up about 3 per cent of U.S. gross home product, and employs 20 million individuals.
“As a labour-intensive sector, it’s a highly effective engine for job creation — final yr alone, leisure and hospitality accounted for 16 per cent of all personal sector new jobs,” mentioned Bushmeneva.
Whereas overseas travellers are essential, home tourism is the actual money-maker, accounting for about 75 per cent of spending within the U.S. Now it too is displaying indicators of pressure. Fewer People plan to journey this yr, together with inside their very own nation, as risky inventory markets, financial uncertainty and the specter of rising inflation undermine confidence, the newest information reveals.
Join right here to get Posthaste delivered straight to your inbox.
Lastly some excellent news on Canada’s commerce. March information might have proven a steep decline in exports to the US, nevertheless it was offset by an increase in shipments to the remainder of the world, as
at present’s chart from Toronto Dominion financial institution reveals
.
One other shiny facet, about 50 per cent of Canadian items heading to the U.S. had been compliant with the Canada-United-States-Mexico Settlement (CUSMA) in March, up from the typical of 38 per cent in 2024. Which means extra items are dodging Donald Trump’s tariffs.
“Nonetheless, so long as the uncertainty concerning the commerce relationship persists, companies are understandably cautious. With the malaise hanging over the economic system it’s unlikely issues will flip a nook quickly,” wrote Andrew Hencic, TD senior economist.
- Prime Minister Mark Carney reveals his new cupboard. Members might be sworn in at a ceremony in Ottawa this morning.
- Right this moment’s Knowledge: United States inflation, NFIB small enterprise optimism
- Earnings: Energy Corp of Canada, CAE Inc., Endeavour Silver Corp.
- Canada’s unicorn downside: New research explores why our greatest startups fail to take flight
- Ask your self as an investor: What would Buffett do?
- Donald Trump seeks bromance and billions as he heads to Gulf
Married couple Gerard, 56, and Penelope, 54, need to depart the grind of company Canada sooner slightly than later — however provided that their investments are capable of generate the $90,000 a yr they consider will enable them to reside the retirement they need. Is retiring in 4 years, and even higher in two to a few years, potential?
Discover out what Household Finance says.
McLister on mortgages
Need to study extra about mortgages? Mortgage strategist Robert McLister’s
Monetary Publish column
can assist navigate the complicated sector, from the newest traits to financing alternatives you gained’t need to miss. Plus verify his
mortgage price web page
for Canada’s lowest nationwide mortgage charges, up to date every day.
Monetary Publish on YouTube
Go to the Monetary Publish’s
YouTube channel
for interviews with Canada’s main consultants in enterprise, economics, housing, the power sector and extra.
Right this moment’s Posthaste was written by Pamela Heaven with further reporting from Monetary Publish employees, The Canadian Press and Bloomberg.
Have a narrative concept, pitch, embargoed report, or a suggestion for this article? E mail us at
posthaste@postmedia.com
.
Bookmark our web site and assist our journalism: Don’t miss the enterprise information it’s essential know — add financialpost.com to your bookmarks and join our newsletters right here
Canadian travellers have been giving the US the chilly shoulder since President
Donald Trump
ramped up
tariffs and sovereignty assaults
— however they don’t seem to be the one ones.
The newest journey information reveals that worldwide arrivals to the U.S. dropped throughout the board as commerce tensions and stricter border insurance policies spurred worldwide travellers to cancel or postpone journeys, mentioned Ksenia Bushmeneva, an economist with Toronto Dominion Financial institution,
in a report out yesterday
.
“Destructive sentiment amongst potential travellers has risen, prompting boycotts and broader hesitancy to go to the U.S.,” she mentioned.
Abroad arrivals to the US dropped about 12 per cent in March from final yr, with the states hottest with abroad guests — New York, Florida, California, Nevada and Texas — struggling essentially the most, she mentioned.
Air arrivals from the Caribbean and Central America led the decline by proportion, adopted by Mexico, Western Europe and Canada.
Travellers from Western Europe, which account for about 18 per cent of worldwide guests to the U.S. and are the principle supply for New York State, had been down by 190,000 guests.
America’s nearest neighbours Canada and Mexico characterize 50 per cent of worldwide site visitors and each noticed steep declines in March, mentioned Bushmeneva.
Airport arrivals from Canada, the biggest supply of worldwide travellers to the U.S., had been down 13.5 per cent (about 112,000 guests) and return journeys by automobile declined much more, falling 32 per cent or 700,000. The drop-off will hit Florida, New York, Washington, California and Michigan the toughest.
Neither is it wanting just like the summer season journey season will flip this development.
“Future flight bookings from Canada have collapsed, declining by 70 per cent for each month by means of September,” mentioned Bushmeneva. Lodge bookings have fallen 7.8 per cent from a yr in the past, and are down 13 per cent in New York Metropolis.
Journey and tourism
is a multi-trillion-dollar business in the US, the most important on the planet, and the slowdown in overseas guests will weigh not solely on this sector but additionally on the entire economic system. Final yr worldwide guests spent $286 billion within the U.S. — which equals about what People spent shopping for used vehicles, mentioned Bushmeneva.
New information from the World Journey & Tourism Council (WTTC), shared completely with Bloomberg, tasks that the U.S. is on observe to lose US$12.5 billion in journey income this yr. Of the 184 economies analyzed by WTTC, America is the one nation set to lose tourism {dollars}.
“Different international locations are actually rolling out the welcome mat, and it feels just like the U.S. is placing up a ‘we’re closed’ signal at their doorway,” mentioned WTTC chief government Julia Simpson.
Tourism makes up about 3 per cent of U.S. gross home product, and employs 20 million individuals.
“As a labour-intensive sector, it’s a highly effective engine for job creation — final yr alone, leisure and hospitality accounted for 16 per cent of all personal sector new jobs,” mentioned Bushmeneva.
Whereas overseas travellers are essential, home tourism is the actual money-maker, accounting for about 75 per cent of spending within the U.S. Now it too is displaying indicators of pressure. Fewer People plan to journey this yr, together with inside their very own nation, as risky inventory markets, financial uncertainty and the specter of rising inflation undermine confidence, the newest information reveals.
Join right here to get Posthaste delivered straight to your inbox.
Lastly some excellent news on Canada’s commerce. March information might have proven a steep decline in exports to the US, nevertheless it was offset by an increase in shipments to the remainder of the world, as
at present’s chart from Toronto Dominion financial institution reveals
.
One other shiny facet, about 50 per cent of Canadian items heading to the U.S. had been compliant with the Canada-United-States-Mexico Settlement (CUSMA) in March, up from the typical of 38 per cent in 2024. Which means extra items are dodging Donald Trump’s tariffs.
“Nonetheless, so long as the uncertainty concerning the commerce relationship persists, companies are understandably cautious. With the malaise hanging over the economic system it’s unlikely issues will flip a nook quickly,” wrote Andrew Hencic, TD senior economist.
- Prime Minister Mark Carney reveals his new cupboard. Members might be sworn in at a ceremony in Ottawa this morning.
- Right this moment’s Knowledge: United States inflation, NFIB small enterprise optimism
- Earnings: Energy Corp of Canada, CAE Inc., Endeavour Silver Corp.
- Canada’s unicorn downside: New research explores why our greatest startups fail to take flight
- Ask your self as an investor: What would Buffett do?
- Donald Trump seeks bromance and billions as he heads to Gulf
Married couple Gerard, 56, and Penelope, 54, need to depart the grind of company Canada sooner slightly than later — however provided that their investments are capable of generate the $90,000 a yr they consider will enable them to reside the retirement they need. Is retiring in 4 years, and even higher in two to a few years, potential?
Discover out what Household Finance says.
McLister on mortgages
Need to study extra about mortgages? Mortgage strategist Robert McLister’s
Monetary Publish column
can assist navigate the complicated sector, from the newest traits to financing alternatives you gained’t need to miss. Plus verify his
mortgage price web page
for Canada’s lowest nationwide mortgage charges, up to date every day.
Monetary Publish on YouTube
Go to the Monetary Publish’s
YouTube channel
for interviews with Canada’s main consultants in enterprise, economics, housing, the power sector and extra.
Right this moment’s Posthaste was written by Pamela Heaven with further reporting from Monetary Publish employees, The Canadian Press and Bloomberg.
Have a narrative concept, pitch, embargoed report, or a suggestion for this article? E mail us at
posthaste@postmedia.com
.
Bookmark our web site and assist our journalism: Don’t miss the enterprise information it’s essential know — add financialpost.com to your bookmarks and join our newsletters right here
Canadian travellers have been giving the US the chilly shoulder since President
Donald Trump
ramped up
tariffs and sovereignty assaults
— however they don’t seem to be the one ones.
The newest journey information reveals that worldwide arrivals to the U.S. dropped throughout the board as commerce tensions and stricter border insurance policies spurred worldwide travellers to cancel or postpone journeys, mentioned Ksenia Bushmeneva, an economist with Toronto Dominion Financial institution,
in a report out yesterday
.
“Destructive sentiment amongst potential travellers has risen, prompting boycotts and broader hesitancy to go to the U.S.,” she mentioned.
Abroad arrivals to the US dropped about 12 per cent in March from final yr, with the states hottest with abroad guests — New York, Florida, California, Nevada and Texas — struggling essentially the most, she mentioned.
Air arrivals from the Caribbean and Central America led the decline by proportion, adopted by Mexico, Western Europe and Canada.
Travellers from Western Europe, which account for about 18 per cent of worldwide guests to the U.S. and are the principle supply for New York State, had been down by 190,000 guests.
America’s nearest neighbours Canada and Mexico characterize 50 per cent of worldwide site visitors and each noticed steep declines in March, mentioned Bushmeneva.
Airport arrivals from Canada, the biggest supply of worldwide travellers to the U.S., had been down 13.5 per cent (about 112,000 guests) and return journeys by automobile declined much more, falling 32 per cent or 700,000. The drop-off will hit Florida, New York, Washington, California and Michigan the toughest.
Neither is it wanting just like the summer season journey season will flip this development.
“Future flight bookings from Canada have collapsed, declining by 70 per cent for each month by means of September,” mentioned Bushmeneva. Lodge bookings have fallen 7.8 per cent from a yr in the past, and are down 13 per cent in New York Metropolis.
Journey and tourism
is a multi-trillion-dollar business in the US, the most important on the planet, and the slowdown in overseas guests will weigh not solely on this sector but additionally on the entire economic system. Final yr worldwide guests spent $286 billion within the U.S. — which equals about what People spent shopping for used vehicles, mentioned Bushmeneva.
New information from the World Journey & Tourism Council (WTTC), shared completely with Bloomberg, tasks that the U.S. is on observe to lose US$12.5 billion in journey income this yr. Of the 184 economies analyzed by WTTC, America is the one nation set to lose tourism {dollars}.
“Different international locations are actually rolling out the welcome mat, and it feels just like the U.S. is placing up a ‘we’re closed’ signal at their doorway,” mentioned WTTC chief government Julia Simpson.
Tourism makes up about 3 per cent of U.S. gross home product, and employs 20 million individuals.
“As a labour-intensive sector, it’s a highly effective engine for job creation — final yr alone, leisure and hospitality accounted for 16 per cent of all personal sector new jobs,” mentioned Bushmeneva.
Whereas overseas travellers are essential, home tourism is the actual money-maker, accounting for about 75 per cent of spending within the U.S. Now it too is displaying indicators of pressure. Fewer People plan to journey this yr, together with inside their very own nation, as risky inventory markets, financial uncertainty and the specter of rising inflation undermine confidence, the newest information reveals.
Join right here to get Posthaste delivered straight to your inbox.
Lastly some excellent news on Canada’s commerce. March information might have proven a steep decline in exports to the US, nevertheless it was offset by an increase in shipments to the remainder of the world, as
at present’s chart from Toronto Dominion financial institution reveals
.
One other shiny facet, about 50 per cent of Canadian items heading to the U.S. had been compliant with the Canada-United-States-Mexico Settlement (CUSMA) in March, up from the typical of 38 per cent in 2024. Which means extra items are dodging Donald Trump’s tariffs.
“Nonetheless, so long as the uncertainty concerning the commerce relationship persists, companies are understandably cautious. With the malaise hanging over the economic system it’s unlikely issues will flip a nook quickly,” wrote Andrew Hencic, TD senior economist.
- Prime Minister Mark Carney reveals his new cupboard. Members might be sworn in at a ceremony in Ottawa this morning.
- Right this moment’s Knowledge: United States inflation, NFIB small enterprise optimism
- Earnings: Energy Corp of Canada, CAE Inc., Endeavour Silver Corp.
- Canada’s unicorn downside: New research explores why our greatest startups fail to take flight
- Ask your self as an investor: What would Buffett do?
- Donald Trump seeks bromance and billions as he heads to Gulf
Married couple Gerard, 56, and Penelope, 54, need to depart the grind of company Canada sooner slightly than later — however provided that their investments are capable of generate the $90,000 a yr they consider will enable them to reside the retirement they need. Is retiring in 4 years, and even higher in two to a few years, potential?
Discover out what Household Finance says.
McLister on mortgages
Need to study extra about mortgages? Mortgage strategist Robert McLister’s
Monetary Publish column
can assist navigate the complicated sector, from the newest traits to financing alternatives you gained’t need to miss. Plus verify his
mortgage price web page
for Canada’s lowest nationwide mortgage charges, up to date every day.
Monetary Publish on YouTube
Go to the Monetary Publish’s
YouTube channel
for interviews with Canada’s main consultants in enterprise, economics, housing, the power sector and extra.
Right this moment’s Posthaste was written by Pamela Heaven with further reporting from Monetary Publish employees, The Canadian Press and Bloomberg.
Have a narrative concept, pitch, embargoed report, or a suggestion for this article? E mail us at
posthaste@postmedia.com
.
Bookmark our web site and assist our journalism: Don’t miss the enterprise information it’s essential know — add financialpost.com to your bookmarks and join our newsletters right here
