A third of Canadian tourism operators are planning to call it quits due to rising operational costs, unpredictable business demand, and government regulations they experienced during the COVID-19 pandemic, a report by a federal commerce regulator says.
Released on Aug. 15, the report by Innovation, Science and Economic Development Canada (ISED) noted that small and medium-sized enterprises (SMEs) in the tourism sector have expressed more interest in closing their businesses for good than from other sectors.
