TIAA’s vision is that Alberta’s tourism industry will be the driving force of sustainable, community economic development.
We represent all aspects of the diverse tourism ecosystem in Alberta; ensuring that future opportunities are leveraged and issues affecting the industry are addressed.
Tourism's voice matters more than ever. And, TIAA’s voice as a proxy for the sectors that comprise the visitor economy matters more than ever. The single most important thing we can do at this time is ensure tourism operators are aware of TIAA so we can offer our support. In these challenging times, we cannot stress how important it is to work together, elevate our collective needs to decision makers, and join forces to reduce industry risks during our recovery.
The Latest from TIAA - June 2023
Potential EI Premium Increases and the Impact on Alberta’s Tourism Industry
The Federal government released the 2023 Actuarial Report on the Employment Insurance Premium Rate. The program is facing a deficit of $27.2 billion, with the vast majority of this deficit ($23.6 billion) accrued as a result of pandemic related extended benefits. In order to erase the program’s deficit, the report estimates that premiums would need to increase to an average of 1.74 per cent for each of the 7 years between 2023 and 2029.
The incremental revenues that would need to be collected from business in Canada over this period are estimated at $13.6 billion. The proportion of this burden that would be borne by the 11,600 Alberta tourism businesses, employing approx. 243,000 employees equates to $166.3 million. This is a cost that the industry simply cannot afford to bear at this time. TIAA is advocating on behalf of Alberta’s visitor economy to prevent our sector from bearing even more of the financial burden from the COVID-19 pandemic.
Read TIAA’s letter to the Minister and share the message here.
Notice of Annual General Meeting
COVID-19 Related Debt Management Impacts on Alberta’s Visitor Economy
New First-of-its-Kind Study Reveals the Economic Impacts & Employment Contribution of Alberta’s Tourism Industry
Anyone can sign up for TIAA's newsletter, which offers tailored content on tourism policy and advocacy, industry and government news, and events in Alberta. Simply fill out the fields below and click "subscribe".