Pre-Election Business Conditions Survey
In a recent survey by the Tourism Industry Alberta Association in partnership with Travel Alberta, tourism businesses were polled on their business performance the current state of the industry - including job losses, financial losses and business viability, sustainability efforts and labour force challenges. Results of the survey show that Alberta’s tourism businesses are optimistic about their business outlook for the remainder of year but inflation and labour supply issues continue to pose challenges to the industry.
- Almost three-fourths (72%) of businesses are positive (optimistic (23%) or somewhat optimistic (49%)) about their organization’s outlook for 2023. This is significantly higher than their positive outlook a year ago in Feb 2022 (59%). Uncertainty has also significantly declined compared to last year (Feb 2022: 39% and Feb 2023: 27%).
- Just under half (48%) of businesses estimate that it will take 1-3 years for their operations to return to their pre-pandemic level. This is significantly lower than last year, where 63% of businesses estimated that it would take 1-3 years to recover. Almost a quarter (23%) of businesses have either returned/surpassed their pre-pandemic levels.
- Businesses continue to feel the impact of the COVID-19 pandemic, especially from higher operating costs (75%), different customer base (45%) and reduced business activity compared to pre-pandemic (42%).
Download the full report here.