Tourism businesses in a 'dire' state, with debt mounting and demand meager: industry
BNN Bloomberg
The head of the Tourism Industry Association of Canada says businesses are struggling to stay afloat under a pile of debt and a dearth of overseas visitors.
In a poll of tourism operators, some 45 per cent said they were likely or somewhat likely to shut down within three years unless the government steps in to adjust their loan conditions.
“Unless there's some change to the payback system and the payback requirements, they're in danger of closing in the next three years,” said Beth Potter, CEO of the trade organization.
“Everything from campgrounds to hotels to amusement parks to outdoor adventure,” Potter said.
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